Travers Smith set to target five key sectors in strategy overhaul
Travers Smith is refocusing its business around a number of key sectors in a bid to deepen relationships with existing clients and attract new work. The firm has initially outlined five key sectors: financial services, leisure, healthcare, retail and infrastructure, which will operate alongside the firm's practice group structure.
August 03, 2011 at 07:03 PM
2 minute read
Top 50 firm overhauls strategy around five sectors in bid to attract new clients and deepen relationships
Travers Smith is refocusing its business around a number of key sectors in a bid to deepen relationships with existing clients and attract new work.
The firm has initially outlined five key sectors: financial services, leisure, healthcare, retail and infrastructure, which will operate alongside the firm's practice group structure.
It is now in the process of allocating two or three partners to take responsibility for each sector, with the designated partners to be handed a brief to stay up-to-date on relevant changes affecting the sector, with a view to identifying new work and better service for existing clients.
Travers corporate head Chris Hale is taking responsibility for the initiative, which is due to launch in September.
He said: "The deals that we have been working on and are continuing to work on fall across a number of different sectors and we decided that it would be sensible to assign a group of partners to the main sector areas that we are seeing work in, to enable us to both extend our service to existing clients and target new ones.
"The selected partners will be expected to make sure that they have regular contact with key people in their sector, and keeping up-to-date with industry changes."
The move makes Travers the latest in a long line of firms to introduce a sector focus, including Clifford Chance, CMS Cameron McKenna and Simmons & Simmons.
Travers, which reported static revenues of £72m during 2010-11 against a 7.8% fall in profits per equity partner to £650,000, is currently midway through a review of legal process outsourcing options.
The firm plans to draw up a list of around three organisations it will use at clients' request by the end of the year. These could include outsourcing companies or regional law firms.
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