Taylor Wessing has issued an edict to its partnership after discovering that several are failing to capitalise on a significant number of cross-referral opportunities generated from the US.
Taylor Wessing pushes for better cross-referral structure in the US" />Taylor Wessing has issued an edict to its partnership after discovering that several are failing to capitalise on a significant number of cross-referral opportunities generated from the US.
That is the key conclusion of a wide-ranging review by the firm over several months into its approach to the US market. Although Taylor Wessing has long been recognised for the strength of its inbound US practice, in particular for the work generated by corporate partner David Kent, the review found that a lack of coordination between groups and communication between partners meant that many cross-referral opportunities were being missed.
In an attempt to fill the gap, Taylor Wessing has formed a seven-partner committee featuring Kent and chaired by managing partner Michael Frawley. All partners who visit the US on business will now have to report back to the committee and Frawley said partners will be encouraged to "think laterally" about other areas of the practice that a client might need.
"We launched the review because we realised that we had so many contacts in the US but hadn't been coordinating them to the extent that we should, and so we might be missing out on opportunities," said Frawley. "We're now going to take a more combined approach to the US and not just have individual partners look at it from their single perspective. As a partner, your job is to build the business, not just your own fees."