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Osborne Clarke has identified four key sectors in an overhaul of its strategy as it bids to target high end clients.
The new approach, labelled ‘sector first’, will see the Bristol firm focus its attention on four core sector groups, along with two other ‘rising star’ sectors.
The four groups include the newly created digital business group, financial services, real estate and infrastructure, and energy and natural resources. In addition, the firm has identified retail and life sciences as its two ‘rising star’ sectors.
Managing partner Simon Beswick said the sector approach, which has been in development for two years, would allow the firm to push extra resources into the six targeted areas.
He commented: “We want to focus on areas in the market where we can be one of the leading law firms. We’re trying to play in the higher value legal marketplace.
“Our success over the years has been based on having clients across a whole range of different sectors. And we’re not going to change that winning formula. Looking forward, we’re targeting new clients in the sectors in which we’re already viewed as both delivering excellent technical advice and possessing a real sector perspective.”
The overhaul has also seen the firm reduce its number of practice groups from seven to four. These include two transactional practices - one covering real estate, finance and projects and the other corporate and commercial.
There will also be a standalone litigation team and an advisory practice to include competition, tax, pensions and employment.
Adrian Bott, head of corporate under the firm’s previous structure, and Omar Al-Nuaimi will head the two transactional practices, with Peter Clough heading litigation and Paul Matthews becoming advisory chief.
The four group heads will sit on a slimmed down executive board alongside Beswick and the newly appointed head of markets Greg Leyshon.
Head of tax Michael Bell, commercial chief Paul Gardner and the incoming head of real estate Katherine Almond will no longer hold positions on the board but will continue in their roles as group heads.