Stacy Ackermann | A Focus on Relationships: The Real Key to Rainmaking and Impactful Leadership

Stacy Ackermann is the global managing partner of K&L Gates, one of the world's leading law firms with more than 45 offices across the globe. A trailblazing leader and accomplished finance lawyer, Stacy brings a rare blend of strategic vision, authenticity, and deep industry insight to her position. Drawing on her extensive experience advising on complex transactions and a long track record in key leadership roles, she's shaping the future of the legal profession with a focus on innovation, collaboration, and inclusive leadership. WHAT'S COVERED IN THIS EPISODE ABOUT RAINMAKING AND IMPACTFUL LAW FIRM LEADERSHIP Many lawyers see business development and firm leadership as entirely different skill sets—rainmaking on one side, management on the other. But attorneys who have done both often discover the gap isn't as wide as it looks. The same strengths that build a thriving book of business—deep relationships, engaged teams, and a genuine understanding of client needs—are the very ones that fuel effective leadership. Stacy Ackermann never set out to become managing partner of K&L Gates. She wanted to work on deals, serve clients, and grow her practice. But she also couldn't sit on the sidelines when important decisions were being made. That tension between wanting to focus on the work and needing to be at the table shaped everything about how she leads today. In this episode of The Lawyer's Edge, Elise speaks with Stacy about her path from summer clerk to leading 1,700 lawyers across 45 offices worldwide. They discuss building teams through relationships, why disagreement strengthens trust when there's mutual respect, how compensation structures can encourage collaboration, and why her closing advice is both simple and hard—take a risk on yourself. 2:57 - Why Stacy never raised her hand for leadership but couldn't stay on the sidelines 5:38 - Building a team isn't about delegation, it's about investing in relationships 8:05 - What loan workouts taught her about taking problems apart and putting them back together 10:27 - Why respectful disagreement from regional managing partners is actually good feedback 13:20 - Learning to be comfortable being uncomfortable as the path to growth 17:35 - Why AI won't replace lawyers  19:35 - The mini MBA program for second-year associates learning the business of law 22:13 - The lateral market is eye-opening and makes your head spin 24:28 - Why first-year classes have gotten smaller and what that means for partner capital 27:26 - How compensation structure encourages collaboration across offices 32:01 - Bringing the voice of the client into every management committee meeting 36:03 - If you're going to take a risk, take a risk on yourself Mentioned In A Focus on Relationships: The Real Key to Rainmaking and Impactful Leadership K&L Gates | LinkedIn Stacy Ackermann on LinkedIn Smart Collaboration and Smarter Collaboration by Dr. Heidi Gardner Get connected with the coaching team: hello@thelawyersedge.com The Lawyer's Edge SPONSOR FOR THIS EPISODE Today's episode is brought to you by the Ignite Women's Business Development Accelerator, a 9-month business development program created BY women lawyers for women lawyers. Ignite is a carefully designed business development program containing content, coaching, and a community of like-minded women who are committed to becoming rainmakers AND supporting the retention and advancement of other women in the profession. If you are interested in either participating in the program or sponsoring a woman in your firm to enroll, learn more about Ignite and sign up for our registration alerts by visiting www.thelawyersedge.com/ignite.