The firm will review whether the alliance works in its current form or whether it needs to be extended further. Partners within the firm suggest mergers have been ruled out in the short term but could be necessary in the future.
Senior delegates from each firm intend to meet to discuss the issue later this year. In the meantime, discussions will focus on assessing how well the core alliance has worked to date and how it could be improved.
Leading Spanish independent Cuatrecasas is currently considering joining the alliance, while Herbert Smith has also admitted it is keen
to ally itself with an Italian firm — although these plans are at an early stage.
Senior partner David Gold told Legal Week: “We have an open mind. If all three alliance firms get the maximum benefits from the structure of an alliance without a merger, then we would not push to do anything. The key is how we deliver our service.”
He added: “We will sit down with the other alliance partners in an effort to work out where it is going, how successful it has been and what more we can do.”
Another Herbert Smith partner commented: “An alliance cannot work forever — at some point it will have to change, and a merger would be the natural progression.”
