The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Herbert Smith is poised to release the results of a far-reaching strategic review ’imminently’, according to sources close to the firm.
Dubbed internally as ’Project Blue Sky’, the review was launched around the start of the year.
The strategic overhaul is separate from the 12-month review of the firm’s systems and efficiency levels that is being carried out by consultant Pricewaterhouse- Coopers.
A Herbert Smith spokesman confirmed the strategic review was in progress but declined to comment further.
According to insiders, its scope is wide-ranging and likely to address partnership structure, strengths and weaknesses in practice areas, remuneration, internationalisation and employment matters.
“There is a level of expectation that it will be something important and significant,” a source close to the firm said.
Herbert Smith undertakes strategic reviews on a regular basis, but it is understood Project Blue Sky is addressing current concerns including the flagging profitability of the firm’s corporate practice, which missed budget by £20m (The Lawyer, 7 September).