We spoke with Brian Fahrney, Sidley’s new Executive Committee Chair and former co-leader of its global M&A and Private Equity Group, about his perspectives on leadership, growth areas for the firm, and recruiting lateral talent in a highly competitive market.
Brian, you are at the top of one of the most successful law firms in the world. Share a bit about your background and what led to your career in law.
Growing up, I didn’t have any exposure to lawyers or a clear understanding of what they did. My dad was in the Air Force and pursued his undergraduate degree at night, which inspired me to focus on academics in college. I earned an accounting degree from the University of Wisconsin and worked at a CPA firm. While there, I occasionally interacted with lawyers, which sparked my interest in the legal profession – so much so that I took the LSAT and went to law school at Northwestern University.
Sidley recruited on campus and was the most prestigious firm in Chicago, with a strong reputation in both litigation and transactional work, which is what I wanted to do. Joining Sidley turned out to be a great decision.
You have been with the firm for your entire legal career. How has Sidley’s strategic focus evolved over that time?
When I started in the early ‘90s, Sidley felt like more of a Chicago-centric firm. Since then, we’ve expanded globally and now have many strong, diversified offices across the U.S. and the world. This expansion of our footprint and network has transformed us into a truly international firm that emphasizes cross-office collaboration and provides above-and-beyond service to clients worldwide.
On the practice side, the biggest change I’ve seen has been the growth of our private equity and private capital practices, as well as the strong growth of our targeted industry sectors. A decade ago, we weren’t a major player in private equity – now we’re recognized as a market leader. Our industry-focused groups like insurance, energy and infrastructure, life sciences, healthcare, and technology have also enjoyed great success.
Which other areas do you see as ripe for growth potential?
Our main growth opportunities are driven largely by consolidating clients on our platform and taking advantage of our well-balanced portfolio of practices to attract clients and lawyers in practice-based strategies like antitrust, capital markets, litigation, finance, investigations, M&A, private equity, complex regulatory, restructuring, and fund formation. And we continue to identify other industry sectors where we can excel and grow.
You are a trusted legal advisor to clients worldwide. How do your skills as a corporate lawyer inform your leadership style?
M&A deals are collaborative. You have to work closely with your client, the Sidley team, and, to a large extent, the other side. Both parties making the deal have to feel comfortable, or it doesn’t get done. To be effective, you need to step up, do your homework, be credible, and make tough decisions. I bring these qualities to deals I work on for Sidley clients and also on firm leadership matters.
As Executive Committee Chair, where do you intend to focus your attention?
I plan to focus on four key areas. First, I look forward to collaborating with Yvette Ostolaza, who serves as Management Committee Chair. We complement each other well, and share the same strategic goals, vision, and values. Second, we intend to work together with our partners and other Sidley colleagues to attract top talent and continue building deeper, long-term client relationships that emphasize mutual growth and shared business goals. Third, we will set strategy by looking around corners for new opportunities and adapting to market drivers. Finally, we will continue to work hard to preserve our distinctive collegial and supportive culture that permeates everything we do.
If we excel in these four areas, Sidley will continue to thrive. The most successful firms in the next five-to-ten years will be large, global, and multidisciplinary. There will only be so many firms within that group, and we intend to continue to be one of them.
Sidley has a strong track record in recruiting top talent in the competitive lateral market. Is there a specific pitch?
There really isn’t a pitch – it’s reality. We are a full-service, international law firm with an impressive growth story, a promising growth trajectory, strong financials, and a uniquely collaborative, collegial culture – this naturally attracts people who want to be a part of a dynamic and forward-moving organization. We offer them the broad platform and tools necessary to develop and expand their practices.
