Hammonds London managing partner Paul Groobey has launched a review of the firm’s City strategy in the wake of his election in June.
Groobey’s review is running in tandem with the firm’s firmwide strategic review, overseen by management board member Bernhard Gilbey, which is examining Hammonds’ future direction and focus.
Groobey told The Lawyer: “We’re looking at the role of the London office and how it’s placing itself in the market, as well as at the way the partners interact.”
He said every member of staff is critical to the review’s outcome. A focus group is currently preparing questions to ask London partners, associates and staff.
Groobey said the London review is connected to the firmwide review. “I want to be able to ensure that we match what we do with the firm’s strategy,” he said.
After the first quarter of the current financial year, London was meeting its budget targets in a hopeful start to 2005-06. Hammonds’ London income has dropped every year from 2002, hitting a low of £38m this year, and has traditionally been one of the firm’s least profitable practices. However, Groobey is confident for the future. “We’ve got to build our business in a way that’s sustainable,” he said.