Top 15 global law firm Reed Smith has today announced its intention to spin-off its Birmingham operation. The spin-off will result in the creation of a new firm to be run by the current partners in the Birmingham office and is expected to be completed by 1 January 2009.
The plan follows a period of internal consultation and assessment after which the senior management team and the Birmingham partners concluded that the spin-off would best serve the needs of the lawyers in the Birmingham office and the clients of the firm. After the spin-off Reed Smith will have 23 offices and more than 1,600 fee-earners worldwide.
Clients will be served by the same account partners they work with currently. Where necessary and appropriate, some clients will be served jointly by Reed Smith and the new firm.
The Birmingham office was initially opened by Warner Cranston in 1995 and joined the Reed Smith network as part of its merger with Warner Cranston in 2001. The office currently houses twenty-six lawyers, twenty five of whom are expected to remain with the new firm. Paul Llewellyn, Head of Product Liability and currently based in the Birmingham office, will remain with Reed Smith and relocate to the London office in the next few weeks.
The independent entity, to be called Hill Hofstetter LLP, will be headed by current Birmingham Managing Partner Chris Hill, Jo Wilde will become Chief Operating Officer, and they will be supported by partners Jonathan Hofstetter, Ranjit Dhindsa and Steve Barker. The team will continue to specialise in high-level commercial litigation, corporate and commercial law, commercial property and employment, representing leading international businesses from Fortune 100 corporations to mid-market and emerging enterprises.
This latest development comes at an exciting time for Reed Smith which has enjoyed steady expansion and a series of successful mergers and office openings over the last two years, including: the merger with Richards Butler LLP in January 2007, the combination with Sachnoff and Weaver LLP in March last year, the joining of Richards Butler Hong Kong in October last year, the continued growth in China with the expansion of the office in Beijing earlier this year, and, most recently, the opening of an office in the Silicon Valley.
Commenting on the spin-off Greg Jordan, Global Managing Partner, said “This latest strategic development is consistent with the evolution of our firm. We continue to look for ways to shape our firm to best meet the needs of our clients and will progress with expansion in locations essential to our global client base, as we have done in markets such as Hong Kong, Beijing and the Silicon Valley over the past year. We want to thank our people in Birmingham for their significant contribution to Warner Cranston and Reed Smith over the years.”
Europe and the Middle East Managing Partner, Roger Parker added: “Consolidating our UK presence is a sound move for the firm. This development is a positive progression for the firm, and the lawyers and staff in Birmingham. We look forward to maintaining a good working relationship with the Birmingham business and to continue to work on some projects and serve some clients together.”
Chris Hill, Birmingham Managing Partner said: “We have a great business with an exciting future. It makes commercial sense to de-link Birmingham from Reed Smith as Birmingham is a viable business in its own right and no longer strategically dependent on the London office or wider international network, for its success. We believe that we will benefit from moving to a stand-alone basis and look forward to a strong referral relationship continuing between both firms.”
About Reed Smith
Reed Smith is one of the 15 largest law firms in the world, with more than 1600 lawyers in offices across Europe, the Middle East, Asia and the United States.
We advise many of the world’s leading organisations on cross border transactions, complex dispute resolution and regulatory matters.
For further information visit: www.reedsmith.com