City firm of the year
Reed Smith’s London office is the firm’s largest office internationally and focuses on the firm’s key industry sectors. Its renowned real estate, corporate and private equity practices were key drivers of growth in 2021.
To help clients to achieve their business goals, Reed Smith is also at the forefront of innovation within the legal sector. Last year, Reed Smith became the first international law firm to appoint an external advisory board of experts, and to convert to an ABS in order to provide additional services and receive external investment.
Reed Smith’s 2021 financial results were the best in the firm’s 145-year history with global revenue rising by nearly 10% to $1.44 billion and London office revenue growing by 13.5%. The office also focused on developing its talent pipeline; building on diversity, equity and inclusion initiatives; providing wellness support to its people and pro bono support to its communities; and driving forward sustainability initiatives, such as becoming a founding member of the Net Zero Lawyers Alliance.
Over recent years, the firm has also launched Gravity Stack, its data-driven legal technology and solutions subsidiary; Reed Smith Global Solutions, the firm’s shared-services provider comprising more than 450 lawyers, analysts and business services staff; and expanded its shared services centre, designed in partnership with leading law company Elevate, to develop innovative legal services.
Most innovative use of technology
Reed Smith is shortlisted for the successful development and launch of its innovative Arbitration Pricing Calculator app. This first-of-its-kind mobile app helps arbitration users to calculate the costs of arbitration around the world.
Developed by Timothy Cooke, a partner in Reed Smith’s leading International Arbitration practice, the Arbitration Pricing Calculator enables users to quickly and accurately navigate the myriad cost structures at key arbitral institutions to inform their dispute resolution stance. The Arbitration Pricing Calculator currently covers 37 international arbitration centres and calculates the expected administrative and tribunal costs of arbitration in over 20 currencies, using current exchange rates.
Pro bono initiative of the year
The Refugee Family Reunion Project, created in partnership with Refugee Legal Support, Reed Smith and a number of other City law firms, has been shortlisted in the pro bono category.
The project provides assistance to vulnerable asylum seekers who are trying to reunite with their families in the UK. Specialist lawyers and project volunteers help complete Exceptional Case Funding applications to fund the required Entry Clearance applications through legal aid, which is the only way, following Brexit, for asylum seekers to legally reunite with family members in the UK.
About Reed Smith
Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, we deliver smarter, more creative legal services that drive better outcomes for our clients. Our deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters. Now celebrating more than 140 years of service, our firm spans 30 offices with 3,000 people, including 1,700 lawyers.
For more information, please visit www.reedsmith.com.
