B&M restructures partnership

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.