US and London mergers mooted in new three-year strategy plan

Eversheds is considering mergers in both London and the US as part of an ambitious three-year strategy intended to reposition the law firm as a credible global player.

The firm's management is consulting with partners and staff about what they want to see in the firm's 2012-15 strategy, but it has highlighted the need to form some kind of presence in the US and a possible merger in the City as priorities.

Partners were told about the proposed strategy at a conference last month, with consultations on the plans due to close in May next year and the final strategy likely to be announced in June 2012.

In addition to looking at the US and strengthening its City presence, Eversheds' management has also identified South America and Russia as major gaps in its geographic spread. The firm initially hoped to open in Russia as part of its 2009-12 strategic plan.

Other key priorities up for debate as part of the three-year plan include improving the firm's client focus and service delivery, as well as looking at whether management structure needs to change as Eversheds becomes more international.

Chief executive Bryan Hughes (pictured) told Legal Week: "We anticipate there will be significant consolidation with the emergence of a relatively small number of true global players. It is Eversheds' inten-tion to be one of these and we must put plans in place now."

He added: "Whenever one is considering global positioning one inevitably has to answer the question: do we need a presence in the US? That is one of the biggest questions we have to consider. As our client base looks to do work across the globe we need to consider whether we need a physical presence of our own in the US, through merger or otherwise, to service our clients' needs."

Eversheds currently relies on a network of best friends firms in the US including Foley & Lardner. One Eversheds partner said: "It's taken two years, but partners have finally come round to the idea that the firm needs to be global and this has to mean some kind of US deal."

Eversheds' last three year plan highlighted Russia, Asia and the Middle East as key areas for growth, with the firm securing launches in Hong Kong and Singapore in 2009 and recently appling for a licence in Beijing.