Top 30 firm Mishcon de Reya is overhauling its management structures and hinted that plans for an initial public offering are still on the table.
The firm, which announced the possibility a stock market listing in July, is devolving power from top level personnel to practice groups, the managing partner revealed today.
Kevin Gold, who has led the firm since 1997, said: ‘We’ve grown significantly over the past decade and more but our management structures haven’t changed. We are now devolving responsibility to our numerous practice groups and the next generation of leaders within them. Whilst this is an internal exercise, it will enable us to best anticipate and respond to the needs of our clients.’
The Gazette understands the change will take effect from April 2020, the end of the firm’s financial year.
In July, Mishcon became the latest legal practice to consider an initial public offering. In a statement it said it had ‘ambitious plans for the next phase of growth’ and was ‘considering all options for raising capital’. The firm said today that its position has not changed since the summer.
Mishcon acted for campaigner Gina Miller, who secured a landmark victory in the Supreme Court when Boris Johnson’s prorogation of parliament was ruled unlawful.