Norton Rose apes KPMG again with Swiss Verein

Norton Rose is set to reorganise its global ­business within the Swiss Verein structure used by accountancy firms Deloitte and KPMG.

Norton Rose is set to reorganise its global business within the Swiss Verein structure used by accountancy firms Deloitte and KPMG.

It is understood that the firm is in the final stages of implementing the model, which is also used by Baker & McKenzie and DLA Piper.

The Swiss Verein ­structure separates liability within an international ­network, so that if one office is sued, for example, the rest of the business is not at risk.

There are also tax and compliance benefits.

Earlier this year Norton Rose also followed KPMG’s lead when it introduced its flexible working scheme, which allows associates to work four-day weeks and be put on part-paid sabbaticals.

KPMG launched an almost identical scheme ­earlier in the year, which was hailed a success when more than 80 per cent of staff signed up.

DLA Piper got the green light for Swiss Verein ­conversion in June 2008, following Bakers, which became the first international law firm to adopt the model in 2004.

A Swiss Verein also means that partners are subject only to regulators in their own jurisdictions rather than in all countries in which a firm operates.