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Baker & McKenzie (B&M) has reorganised its partnership structure becoming the first international law firm to operate as a Swiss Verein.
B&M was an Illinois partnership, reflecting the firm’s roots, but not its status as an international law firm.
Rather than reorganising as a limited liability partnership, as chosen by many firms including Allen & Overy, B&M has chosen the Swiss Verein structure favoured by accountants such as Deloitte Touche Tohmatsu and KPMG.
Each member firm of the Swiss Verein will operate as a separate legal entity, significantly increasing the liability protection for the firm.