The retirement of Eversheds' chairman, Victor Semmens, last month marked a new phase in the self-styled national law firm's ambitious business strategy to compete across the board.Mr Semmens had been the driving force behind Eversheds' six-year plan to become the country's first truly national partnership.
With 930 lawyers now working in 12 city offices, Mr Semmen's dream seems to be almost realised.Moreover, there is a strong feeling that Eversheds is blazing a trail for others to follow.When Mr Semmens began his quest Eversheds comprised several major practices which had become self-reliant enterprises.
'We needed to develop specialisms and encourage these firms to share knowledge and resources.
We are much more efficient than we were five years ago.'Eversheds now has 34 product groups with strong support teams.
And, since its merger with Jaques & Lewis earlier this year, it is already challenging City firms in the financial markets.
It is also considering a scheme to expand its international business.
A review team has just been set up to look at the possibility of adding to its foreign offices in Brussels and Berlin - inherited from the Jaques & Lewis merger.The new chairman, Keith James, now has the job of building on the work done by Mr Semmens.Mr James is a passionate Welshman who has been based at the Cardiff office.
Outside the profession he has a reputation for getting involved in Welsh affairs.
He is the co-founder of an independent think-tank, Wales 2010, which looks at proposals relating to Wales and whose ideas have already been taken up by the government.
But as Eversheds' chairman he admits his extra-curricular interests will have to take a back seat for a while.He predicts in the next few years the markets will be in a continuous state of flux requiring flexible legal services.He says: 'There is great interest in what we are doing and since we created Eversheds our client base has continued to grow.'Eversheds now operates a business and management strategy similar to many of the big businesses it is trying to woo.
This is especially true of industries which have a traditionally strong regional presence, with less emphasis on London.
Mr James believes it is Eversheds' business structure which will attract more clients.
'Our existing clients are already telling us this is what they like.
It gives them more confidence in us.'Even Mr James' selection and appointment as the new chairman had more in common with a large entrepreneurial business rather than a law firm.
Mr James was vice-chairman for five years then appointed as chairman by a board made up of members from each regional office.Says Mr James: 'Management decisions are executed properly.
You can't have 268 partners debating every issue.
You must have a few people taking the decisions who have the confidence of the partnership.'In most law firms ten years ago it was common for every partner to be present for major decision taking.But he emphasises that the more direct leadership is not a 'dictatorial style' because, he says, the system takes account of partners' views.Mr Semm ens admits that London law firms have been guilty in the past of patronising regional business so that clients are forced to come to London, cap in hand, for their legal services.Says Mr James: 'Some of the major corporations have small London head offices but employ maybe 60,000 people around the country and require a service throughout the country.''We regarded ourself as a national firm before the Jaques & Lewis merger.
I think there is a danger that if you don't have substantial presence in London you are not a national business.' He says that the arrival of Jaques & Lewis is the last piece in the jigsaw.
Apart from providing an invaluable presence in London, the Jaques & Lewis merger has also helped to build up the Eversheds client base.
'They have particularly strengthened areas such as franchising and intellectual property,' says Mr James.Both Mr Semmens and Mr James believe the merger has gone very smoothly with Jaques & Lewis lawyers fitting in 'extremely well'.
Eversheds is now using the merger as a springboard from which to launch a widespread business drive.But although Eversheds' plans are clearly ambitious the firm is still moving cautiously.'It must be driven by what is in the interest of our clients and the market place,' adds Mr James.And he believes the 'critical mass of expertise' contained in the product groups will prove vital.'We don't see any particular firm as a competitor.
We see the whole legal professional as a competitor.'One feature of Eversheds' business which must worry its competitors is the increasing number of US and Japanese business clients who are using Eversheds when locating in Britain.Mr James believes this is because these companies are locating in the regions where Eversheds is better equipped to offer a legal service to suit their national requirements.Also, US law firms who are in aggressive competition with some of the City firms are happy to form business agreements with Eversheds so they can take advantage of Eversheds' national presence.A strong national presence also has benefits for public sector services.
New legislation, Mr James believes, affecting schools and hospitals, for example, need only be assessed by specialist lawyers in one office who can brief all the other offices.
This means the firm is able to respond quickly to changes in the law by providing a nationwide service to national institutions.Groups like the Norton Rose M5 and the recent combination of another City firm, McKenna & Co, with Lawnet to form Lawteam indicates lawyers now understand the business potential of being able to offer a national service.But Mr James thinks it is the Eversheds formation that will prove the most successful.
He says: 'There are inevitable limits to how far those groups can develop.
They can't share information about clients.
My own view is that over the next ten years we will see a number of national firms with a presence throughout the UK.
Whether some of those groupings will change I can't say.'Mr James believes Eversheds will be able to change to meet the changing markets.
Eversheds is a young firm.
The average age of a partner is 40.
'We have invested heavily in the next generation and at the moment every office is recruiting.'
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