Duncan Weston marked the start of his reign as managing partner of CMS Cameron McKenna by setting out a new businessled approach in a five-day leadership conference at the IMD Business School in Lausanne, Switzerland. Weston, who has a degree in business from IMD, is known to place a strong emphasis on detailed financial management.
He told The Lawyer: “The purpose was to take on board some fairly detailed research of the market so we’ll be better informed and to keep ourselves up to date. By the end of the week we’d come out with some clear actions.”
The firm unveiled a new ‘matrix’ system at the event that measures performance, allowing partners to simply break down revenue by practice group and sector. It will be rolled out across the firm from 1 June.
Weston, who took over from Dick Tyler on 1 May, also vowed to continue the firm’s growth by increasing its UK presence with lateral hires and closer integration with the CMS network.
The performance matrix was pioneered by Weston during his five years as Central and Eastern Europe head, a period that saw revenue triple in the region.
He said it was key to the practice’s success, adding: “When you look at your management accounts, you can see the growth coming through each sector group.”