What is a managing partner?

A managing partner is a designated member of a business partnership who is responsible for overseeing the day-to-day operations and management of the company. They are typically one of the senior partners in the firm and have a significant level of authority and decision-making power.

Managing partners are often tasked with setting strategic goals for the firm, developing business plans, and ensuring that the company is operating efficiently and effectively. They may also be responsible for managing the financial aspects of the business, including budgeting, forecasting, and financial reporting.

In addition to their managerial responsibilities, managing partners often play a key role in developing and maintaining relationships with clients, suppliers, and other stakeholders. They may also be involved in business development activities, such as marketing, sales, and networking to help grow the firm's client base and revenue.

Overall, a managing partner is a critical member of a business partnership who plays a key role in shaping the direction and success of the company.