Pinsent Masons has scrapped its chosen markets strategy, replacing it with a core-sector scheme targeting 10 client industries.
Each sector has a lead partner whose job it is to organise multidisciplinary teams across the firm. For example, although Clive Seddon is head of the technology practice area, corporate partner Andrew Hornigold coordinates the firmwide team for the technology client sector.
Pinsents managing partner David Ryan said: “We feel it’s the natural evolution of the chosen markets strategy.”
The chosen markets strategy originated at Pinsent Curtis Biddle in 2000 and targeted six areas: financial services, government, manufacturing, real estate, services and technology.
Management at the merged Pinsents felt the boundaries were too broad and so developed a new strategy seeking cross-selling opportunities in banking, central government, construction, health, insurance, manufacturing, real estate, retail and leisure, support services and technology.
Ryan said: “The aim is to make it instantly clear to the market what specific sectors we’re focusing on.”
He said the scheme helps his lawyers to develop a deeper understanding of the industries their clients worked in.
Pinsents began to see the benefits of the merger this year, posting a 15 per cent rise in turnover to £172m. Ryan said he expected the core-sector strategy to propel turnover to at least £185m in 2007.