Top 10 firm aiming for 50% of turnover from international practice

Herbert Smith is on course to generate half of its turnover from international work within five years as the firm places a growing emphasis on its presence in foreign jurisdictions.

The top 10 law firm is putting added weight behind growing its international practice as a key plank of its recently completed strategic review.

Among the jurisdictions singled out for growth, developing a presence in Latin America is high on the agenda. Former Toyko head Steve Lewis will review how the firm should move into the region, with specific regard to Brazil, including the option of opening an office in the region.

Herbert Smith managing partner David Willis said: "We had a look at our strategy just before the credit crunch when we wanted to conquer the world, then the world fell apart. So with a shift in management teams it was a good time to see if there were any material changes in strategy that needed to take place. We see nuances but nothing fundamental."

Herbert Smith senior partner Jonathan Scott added: "I would be surprised if by the end of my term in five years, international was not contributing to 50% of turnover."

Elsewhere, the firm, which currently ranks 40th in the global 100, is looking to strengthen and build upon its Asian presence, bulking up certain practice areas such as finance and capital markets.

Although it ruled out full integration with its alliance firms, Herbert Smith is committed to working more closely with Germany's Gleiss Lutz and Benelux leader Stibbe and together they are targeting potential clients.

Willis commented: "We are looking at getting closer with our alliance firms and have a more joined-up approach to targeting potential clients. We want to make the jump to a situation where we are happy for client relationship partners to be from Herbert Smith or Gleiss Lutz or Stibbe."

The firm kicked off a review of its strategy in April after Scott replaced David Gold as senior partner.