Shearman & Sterling has created the role of management co-ordinator and reduced the size of its management team.
Shearman & Sterling has revamped its management structure, creating the role of management co-ordinator and reducing the size of its management team.
New York partner Fred Sosnick will take up the newly-created role of management team co-ordinator and will oversee the development of five key areas. The firm has created committees dedicated to client development, practice management, partner and associate issues, firm arbitration and risk management.
The executive committee has been reduced in size from six to three with former London managing partner Kenneth MacRitchie (pictured) as well as partners John Madden, Linda Rappaport and German managing partner Georg Thoma all standing down from their positions on the executive committee.
Shearman London managing partner Anthony Ward said: “The purpose of this is to take the firm’s most senior partners, who are the most effective partners in client development and focus their skills and expertise in this area. Client development is crucial in any firm and it is important for us to make sure we are doing this in the right way for the firm.”
Senior partner Rohan Weerasinghe said in a memo sent out firmwide that the changes are designed to spread responsibility across the firm and enable those in management to concentrate on client roles.
While the London office no longer has representation on the global executive committee, London is represented globally with Ward occupying a space on the global policy committee.
Ward said: “We do have representation on a senior level. As well as being on the policy committee, London partner Richard Price is on the global client development committee, which is one of the most important areas. We will also have other partners represented on these committees.”