Top companies are integrating legal and financial leadership. And it works, according to study
In an era marked by rapid regulatory change, geopolitical uncertainty, technological disruption, and market volatility, a new report underscores the pivotal role of executive collaboration, particularly between Chief Legal Officers (CLOs) and Chief Financial Officers (CFOs), in successfully navigating today’s increasingly complex business environment.
Published by ACC, the global organization for in-house legal professionals, and Odgers, a global executive search, leadership advisory, and talent management firm, the report titled “The Power Partnership: Optimizing CLO-CFO Collaboration for Business Success” reveals how organizations that foster strong alignment between their legal and financial leadership are better equipped to manage risk, unlock strategic opportunity, and sustain long-term growth.
Drawing on global survey data from hundreds of CLOs and in-depth interviews with leading CFOs, the report provides unique insights into how high-performing organizations are breaking down traditional functional silos to create integrated, forward-looking executive partnerships. Additionally, the report outlines best practices and practical recommendations for fostering CLO-CFO synergy at the executive and board levels and building resilient operations that can withstand constant change.
“In today’s complex and fast-moving global economy, the partnership between CLOs and CFOs is proving essential to driving sustainable business growth,” said Veta T. Richardson, ACC president and chief executive officer. “When finance and legal leaders collaborate, they bring complementary perspectives that help organizations unlock value, manage enterprise risk, and scale with confidence. Our research shows this impact is especially strong in larger companies and when the CLO has a direct line to the CEO, highlighting the importance of visibility, alignment, and trust across the executive team. As companies expand across borders and navigate evolving regulations, the CLO-CFO alliance is not just a best practice, it’s a strategic imperative for global success.”
Key findings include:
- Communication is the foundation of a strong CLO-CFO partnership. In fact, 81% of CLO respondents said communication between legal and finance is highly effective. CFOs emphasized the importance of consistent, scheduled meetings to discuss key initiatives, establishing a predictable cadence for information sharing and proactive strategic alignment.
- Collaboration is paramount to effectively managing an organization’s risk, compliance, and corporate governance frameworks. 85% of CLO respondents rated collaboration as a critical role in bolstering organizational integrity and stability. CLOs report that educating their financial counterparts on the “cost of non-compliance” and approaching challenges with a solution-oriented mindset helps build trust and strengthen collaboration between legal and finance teams. CFOs, in turn, expressed a desire for legal to serve not only as a safeguard but as a strategic partner, one that actively identifies “offensive opportunities” to drive revenue and create financial value.
“This research reinforces what we consistently observe in our C-suite and board advisory work, the most resilient and high performing organizations are anchored by aligned, cross-functional teams,” said Conrad Woody, Odgers, managing partner, Washington Office. “When financial strategy is integrated with legal foresight, organization are better positioned to mitigate risk, seize strategic opportunities and drive sustainable growth. As the role of the CLO evolves to include revenue enablement – through operational efficiency, proactive counsel on corporate governance, geopolitical risk, and opportunity spotting – forward thinking CFOs increasingly seek legal leaders who possess a deep understanding of the company’s financial architecture. This kind of operational fluency allows legal and finance to function as strategic partners, creating long-term enterprise value.”
