Process focused legal services business, Factor, has appointed Carol Lindstrom (pictured) to its board of directors. She has served for 25 years within Deloitte in the US, and was Vice Chair of Deloitte Consulting where she helped build and lead the Big Four firm’s technology consulting group.
She is also a board member of Carrick Capital, which recently took a majority share in Factor (see Artificial Lawyer story). At the time of the investment in August the company said that the new cash ‘will allow Factor to immediately expand its presence in the global marketplace and accelerate its development of innovative, large-scale, customised, legal solutions for clients in the Enterprise, Life Sciences and Financial Services sectors‘.
Factor now has more than 500 lawyers, legal specialists, technologists, and process consultants with offices in New York and Chicago in the US, as well as London and Belfast, plus Poland.
Clearly this is a significant addition to Factor’s team, whether one considers the incredible client network Lindstrom will have developed over 25 years working with large corporates, or whether one focuses on her experience in tech-related consulting. It’s the kind of appointment that will surely help the group get additional traction.
The move comes at the same time as Factor was announced as a founding member of the LexFusion consortium of legal tech companies (see Artificial Lawyer story).
Factor is trying to take market share in the area of complex legal work at scale, i.e. that important band of activity that is more that LPO rote work, but would not perhaps be classified as regulated legal advice. In short, it’s the band of work where traditional law firms have used large-scale associate leverage to generate significant profits for the partners.
A member of the Deloitte & Touche Board of Directors for six years, Lindstrom also served on the Deloitte Touche Tohmatsu Global Board of Directors for eight years and is former President of the Deloitte Foundation.
Varun Mehta, CEO of Factor, said: ‘We are honoured to welcome Carol to our board. Her experience in building Deloitte’s technology consulting practice and in leading a global professional services business coupled with her leadership positions both on the boards of Deloitte and Genpact, makes her an invaluable addition to the Factor board and our growing business.
‘Carol’s guidance and vision will play an important role as we accelerate the development and expansion of our capabilities in next-generation legal solutions, and as we change perceptions of what New Law can accomplish.’
Lindstrom concluded: ‘I am thrilled to join the team at Factor – not just because of their potential for significant growth, but because they recognise an opportunity to add value and change the future of legal services delivery.
‘I have been impressed not only with Factor’s leadership team, but also the company’s commitment to its clients and its proven ability to deliver on very large, complex projects.’