Freshfields boosts fees from key relationships with new client partner push
Freshfields Bruckhaus Deringer has seen fee income from its top 30 UK clients increase by 16% over the last year, on the back of a client relationship management (CRM) programme introduced by London managing partner Mark Rawlinson in October 2011. The CRM programme, one of a number of initiatives introduced by Rawlinson since he took up the post in July last year, has seen the firm increase the number of partners assigned to each key client to two or three. Freshfields previously assigned one prime partner to each client relationship.
November 29, 2012 at 07:03 PM
2 minute read
London chief Rawlinson's client relationship push fuels 16% hike in key client billings
Freshfields Bruckhaus Deringer has seen fee income from its top 30 UK clients increase by 16% over the last year, on the back of a client relationship management (CRM) programme introduced by London managing partner Mark Rawlinson in October 2011.
The CRM programme, one of a number of initiatives introduced by Rawlinson since he took up the post in July last year, has seen the firm increase the number of partners assigned to each key client to two or three. Freshfields previously assigned one prime partner to each client relationship.
The CRM programme has also increased cross-selling to other practice areas, with 42% of London growth coming from focus clients in 2011-12. The firm's largest UK clients include Tesco, BP and CVC Capital Partners.
Rawlinson said: "Our focus in the first 18 months has been our people and our clients. We have a management structure that reflects these priorities.
"Our CRM programme has been game-changing and the growth we have seen for London – in a market that is not growing – is a testament to the better cross-practice approach being taken."
Intellectual property and IT head Richard Lister and head of London marketing and business development Lucy Murphy have been responsible for running the CRM programme.
The news comes after Rawlinson put clients and people at the centre of his plans for the City last year, with a focus on how the firm could invest more in building key client relationships and cross-selling. Other initiatives under Rawlinson's term to date have included a revamp of the firm's maternity package, with Freshfields now giving all staff employed for at least 18 months the equivalent of 29 weeks on full pay.
Freshfields saw global revenue fall 0.1% in 2011-12 to £1.139bn, while profits per equity partner dropped 0.7% to £1.299m.
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