The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Last week (5 November), The Lawyer revealed news of Norton Rose's new international strategy to focus on Turkey, Russia, India and China.
They are the TRIC countries, apparently, rather than the BRIC countries, which comprise the same ones, but with Brazil instead of Turkey.
It's been dubbed 'New Horizons', which is unfortunate. It merely adds an 's' to the 'New Horizon' strategy that dragged Hammonds to the brink of bankruptcy.
Hammonds former senior partner Richard Burns and then-managing partner Chris Jones published their glossy strategy document New Horizon in January 2000. The strategy failed.
So the pair relaunched the document, but this time it was purple. In June 2002 it was rechristened the 'New Horizon Implementation Plan'. It promised an average profit per equity partner of £400,000. Again, it failed.
The omens for Norton Rose are not good. But perhaps if it uses its other strategy, 'Headlights', in conjunction with the new one it could be okay. All Norton Rose needs to do is shine its Headlights on the New Horizons, avoid the BRICs, turn a few TRICs and any Hammonds-esque failures will be shadows in the rear-view mirror.