The news that Linklaters was taking a long hard look at its partnership set off endless speculation over which other firms might be doing the same.
The only firms that are safe from conjecture are those that are known to be doing it anyway. And so it is with SNR Denton.
Following legacy firm Denton Wilde Sapte’s merger with Sonnenschein Nath & Rosenthal, the combined firm has been whipping its EMEA business into shape. The latest news to come out of the firm is that a team of three partners and six associates is leaving its Paris office and is in talks with US firm Hughes Hubbard & Reed (see story).
The news comes after The Lawyer reported in July that US-based bankruptcy chair Fruman Jacobson had been parachuted in to strengthen the Paris office.
Matthew Jones, chief executive officer of SNR Denton, was keen to stress that the firm’s strategic review did not just mean contraction – it also meant growth (good luck by the way, in finding it in this market).
He also stressed that the end of the interim strategy review would not mean an end to the firm taking a hard line with underperformers in its pursuit of profitability and constantly managing its partnership.
This is a familiar spin from firms at the moment. That said, to hear it from SNR Denton sounds a lot more poignant. If there’s one firm that knows what happens when you take you eye off the ball in terms of profit…