SJ Berwin: we’ll be a finance firm by 2015
SJ Berwin is planning to reposition itself as a finance firm within three years and aims to double the partner count in its City finance team.
Jeremy Cross
It follows the demise of the firm’s traditionally strong funds, private equity and real estate practices, which have been hit by the downturn and key partner exits.
It aims to increase its finance partner count from six to 15 in an area that saw a 36 per cent turnover hike between 2009-10 and 2010-11, from £17.1m to £23.3m.
“The aim is to grow by bringing in more laterals as well as internal promotions,” finance head Jeremy Cross said. “We’ll be looking at 14 or 15 partners in a relatively short period. I hope we’ll be seen as a finance firm, among other things.”
He admitted that the firm has “good people but needs more” and said he expects a rise on the 60 per cent of clients that come directly to the practice rather than from elsewhere in the firm.
This is not the first time SJ Berwin has targeted growth in finance. Cross said four years ago that he aimed to double the global finance count from 16 to 32 in five years (The Lawyer, 23 July 2007), but the credit crunch scuppered his plans.
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Readers' comments (11)
Dr Watson | 7-Nov-2011 11:33 am
Any minute now the SJBerwin haters will be out and posting but this is not a bad response to a difficult situation. It shows that the management aren't as head in the sand as their detractors like to say they are.
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Anonymous | 7-Nov-2011 12:43 pm
I am looking forward to Julian Hedgefund's post.
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Anonymous | 7-Nov-2011 1:46 pm
SJ Berwin: we’ll be a finance firm by 2015, and we are starting by losing all of our finance partners to rivals and replacing them with 5PQEs.
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Julian Hedgefund | 7-Nov-2011 4:39 pm
I am not being negative for the sake of it, but this is a desperate response to a pretty desperate situation for SJ Berwin. The burnout rate in that department is phenomenal, and becoming a finance partner is to the detriment of your health and social life.
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Julian Hedgefund | 7-Nov-2011 5:27 pm
Except you're not the real Julian Hedgefund. You don't write well enough. I am and do.
My take? Only that a lot of people are waiting for Blake to retire.
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Ricky Dunn | 7-Nov-2011 5:50 pm
I don't care which Julian Hedgefund is real or genuine - you both talk a lot of nonsense.
I bet neither of you have worked at SJ Berwin, and as for Julian Hedgefund 5:27 claiming he writes well - I don't see any publishers clamouring for your signature. Stick to the day job - if you have one.
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Julian Hedgefund | 7-Nov-2011 6:48 pm
I am Julian Hedgefund and I write proper.
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Julian Hedgefund | 7-Nov-2011 7:58 pm
Ricky, I ordered a Big Mac.
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Anonymous | 7-Nov-2011 8:42 pm
SJ Berwin is dying on its feet.
And that's being charitable.
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Yosser Hughes | 7-Nov-2011 11:07 pm
Gis us a job ! I could do that !
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