According to HSF co-chief executive Mark Rigotti, the firm's new strategy Beyond 2020 will begin to move the firm away from it's 'post-merger and integration period' and into 'implementation' as the fourth anniversary of legacy Herbert Smith's merger with Freehills approaches this October. The firm's new vision comes after six months of rigorous, 'socialist' consultation with individuals across all levels of the HSF team, including 40 workshops with partners and business services staff.

Global focus

Beyond 2020 focuses on five key points – clients, sectors and products; people, performance and leadership; service delivery; innovation and technology; and platform. The firm's drive to become a truly global player underpins all elements of Beyond 2020, reports Mr Rigotti. 'We think the market will continue to globalise and consolidate and to be competitive we need to do some things differently,' he said. Establishing market footholds in China and broadening its presence in the United States are at the top of the list, potentially through strategic link-ups with local players. 'Would 100 lawyers in China by 2025 be feasible? Yes,' said Mr Rigotti.

Appetite for change

Notably, the new HSF strategy will move away from umbrella practice areas and instead take a sector-focused approach, with the aim of making every HSF lawyer a 'sector specialist'. The highest priority sectors will be energy, banks, financial buyers, real estate, TMT, infrastructure and transport, mining, consumer products, pharmaceuticals and healthcare. The firm also plans to focus on technology, innovation and remote working in order to help support cross-border mandates, while further expanding its push for agile working across its global offices. 'We were quite surprised that there was much more of an appetite for doing new things than we had previously thought,' said co-chief Sonya Leydecker of the consultation process behind Beyond 2020.

Sources: The Lawyer; Legal Business