Reed Smith grows pricing and mandates team to 15

Reflecting a trend which is developing across the leading firms, Reed Smith has rapidly increased its 'client value' team - the unit which helps price transactions and liaises with clients in order to avoid nasty billing surprises.

Reed Smith: Moving towards a value proposition for clients sindlera

The group was set up in 2012 and is based in different parts of the globe. There are three people located in London, for instance. The firm is working on other initiatives to improve efficiency and productivity - in ways that satisfy both client and the firm. Many of these initiatives are likely to be seen in the corporate practice whose growth is due to accelerate, under a five-year plan from global managing partner Sandy Thomas.

Houston and Singapore

Recent initiatives at the 700-partner firm have met with success - such as the 2012 launch of the Houston office which now numbers 45 lawyers on its payroll. Like the Houston branch, the office in Singapore was also opened in 2012 and 'exceeded our expectations' for performance in 2014, according to Mr Thomas. The firm has just announced its 2014 results which show 7% revenue growth, taking gross income to US$1.15b. Source: Legal Business

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