LAWFUEL – The Law Newswire – Herbert Smith is attempting to reverse the trend of corporatisation of law firms, with its management being decentralised and handed back to the partners, as reported by The Lawyer.
Senior partner David Gold wants to shift the firm’s managerial emphasis, with the onus for driving the firm forward moving away from him and onto every partner in the firm.
Gold said the aim is for the firm to be run as a partnership as opposed to a corporation, with every partner taking responsibility for how it develops.
So far the firm’s litigation practice has been restructured and the intention is to roll out the strategy to other practice areas.
Gold said the reasoning behind the creation of a stand-alone arbitration group was to build a small, focused unit with more responsibility for its own business.