Lovells homes in on financial performance

Lovells homes in on financial performanceLovells managing partner David Harris is mooting a plan to overhaul the firm’s management to create an international group focused specifically ;on ;driving ­financial performance.

Currently ;the ;firm’s ­managing body comprises an international executive, which deals with business development, ;and ;a ­partnership council, which looks at issues such as ­partnership remuneration and lateral hires.

Harris’s plan, which ­partners will vote on in early March, would see the ­establishment ;of ;an ­additional international management group focused on financial performance, something currently dealt with by an international executive subgroup.

The subgroup is made up of the firm’s London managing partner, chief operating officer, finance director and a number of non-management partners.

Current London head Ruth Grant, who is to take on the new role of people development partner, will sit ;on ;the ;new ;group ­alongside Harris, finance director Richard Olver and the firm’s four regional ­managing partners.

As people development partner Grant will chair a new lateral hiring committee designed to improve the efficiency of the hiring process.

The London managing partner ;role ;will ;be ­refocused around financial performance, client development and cross-selling. Harris has recommended ­international banking head Andrew Gamble for the post.

Harris is also proposing that all management roles, aside from that of managing and senior partner, carry three-year terms. Currently the terms for practice
heads and office managing ­partners are openended.