Law Firm of the Year is Legal Business’ most prestigious award. This award goes to firms whose achievements have “taken the market by storm” – not just financially, but also in terms of innovation, such as by promoting the ESG agenda and serving as an example in other ways.
2021 was a record-breaking year of success for Reed Smith, with the firm achieving the best financial results in its 145-year history. The firm’s client base continued to grow and comprises 66 of the world’s 100 largest companies.
Globally, Reed Smith achieved a firm record 88,000 pro bono hours in 2021. In London, the firm delivered over 27,300 hours – an impressive 24% increase on 2020. It also established a Racial Equity Task Force, setting benchmarks for hiring, retaining and promoting Black lawyers and for advancing pro bono initiatives impacting Black communities. Reed Smith aims to increase the number of Black lawyers across the firm by 50% by 2024, and to increase the percentage of Black leadership in the firm by 30%.
Reed Smith was the first international law firm to appoint an external advisory board to support the firm through constructive analysis and advice regarding its internal business operations and service to clients.
Over the past several years, Reed Smith has pushed the envelope in client-facing knowledge and innovation. This includes launching the Arbitration Pricing Calculator, a first-of-its-kind mobile app designed to help choose the best form of dispute resolution. This innovative new app enables users to forecast arbitration costs at key arbitral institutions around the world.
The winner of the award will be announced at a ceremony on 27 September.