Addleshaw Goddard has put pricing strategy at the top of its agenda by creating the role of commercial director to spearhead the firm’s push to develop new ways of billing clients.
Chris Howe, who was previously divisional business director at the firm, was appointed to the role in the summer.
Howe is responsible for the day-to-day running of the firm’s finance function and will also chair its six-strong pricing team, which was established in 2009.
“I will be focusing on two things – one is the finance function and the other [pricing] relates to external pressures on the firm,” said Howe. “Clients are looking for more certainty and innovation, and we’re trying to bring those strands together.
“We’ve had a pricing team since 2009, but we’ve started to see a bigger picture – that a more strategic approach is needed – and there will be more projects coming down the track in the next few months.
“When you talk about alternative billing a lot of people think that just means fixed fees, but there are a lot of potential variations.”
Previous initiatives by the firm include establishing a transactions services team in November 2010 to provide low-cost support on transactions, and taking on big litigation instructions such as Berezovsky on a conditional fee arrangement.