Macfarlanes expands US ties with revamped international strategy
Macfarlanes has overhauled its international strategy, setting up a number of relationships across the US and closing down its international practice group. The City firm has formed non-exclusive ties with six firms across the US, on top of its existing links with around half a dozen Wall Street firms. Former senior partner Robert Sutton, now a senior adviser to the top 30 law firm, led the review and identified the firms, which cover regions such as Washington DC, Atlanta, Houston, Los Angeles and San Francisco.
December 07, 2010 at 01:56 AM
2 minute read
City firm links with six US firms in bid to expand client offering
Macfarlanes has overhauled its international strategy, setting up a number of relationships across the US and closing down its international practice group.
The City firm has formed non-exclusive ties with six firms across the US, on top of its existing links with around half a dozen Wall Street firms.
Former senior partner Robert Sutton, now a senior adviser to the top 30 law firm, led the review and identified the firms, which cover regions such as Washington DC, Atlanta, Houston, Los Angeles and San Francisco.
The move comes in response to client demand for wider geographical spread as well as lower rates than those offered by Wall Street firms.
Separately, the firm has also closed down its international practice group, which was chaired by banking chief Julian Howard and involved seven partners – including some with country-specific responsibility – in a bid to cut bureaucracy and reduce the time partners spend on administration.
Instead, on international matters, country partners and practice heads will report directly to Howard, who is set to take on the role of managing partner in January 2011.
Macfarlanes senior partner Charles Martin (pictured) said: "Clients sometimes don't want to be paying Wall Street prices for all of their US work. In addition, there is a significant amount of client work which is located, for example, on the West Coast, so it makes sense for us to have reviewed our presence in the US during 2010 and establish a wider network of relationships with firms across the States.
"We have streamlined the way we handle our international activity. All of these moves are designed to sharpen our focus on clients. Our partners want to spend their time with clients, not on internal stuff. What we have done will free up their time to do just that."
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