There is, however, a sense that communication has been a problem that has considerably amplified (though not fabricated) the woes of the average SJ staffer. Indeed, even some of the most upbeat partners (of which there are many) concede communication in the run-up and aftermath of the bonus furore stoked tensions.
“It was not our finest presentational hour — it came out like red rag to a bull even though it was a fair model,” says one partner. “Now it seems that when Linklaters is busy everyone says, ‘great’. If we are busy, they say, ‘Berwins is a sweatshop’.”
More specific have been reports that the firm’s much-vaunted funds team is suffering from greater competition and high-profile departures. Certainly, the recent loss of its tier one ranking in Chambers has not gone down well and the days when SJs had the market to itself are long gone. But the firm’s critics concede its brand and the presence of funds veteran Jonathan Blake still go a long way.
And, even if the firm is light on mid-ranking funds partners, one rival acknowledges the firm’s track record of developing new talent, highlighting the “fantastic” junior partner Nigel van Zyl as evidence that the firm has talent in the pipeline. “People say morale is bad but it is still really hard to extract anyone from that team,” he comments. And some setbacks in funds must be viewed alongside a strong showing from the firm’s once-overshadowed corporate practice.
Another underlying issue is growing pains. As senior partner Blake has acknowledged with the Phase II initiative — a series of working parties considering the future of the firm — SJs is no longer the brash new kid. The challenge is that it understandably wants to maintain the entrepreneurial edge that has made it one of the City’s most distinctive firms. But to balance that with a larger practice with larger clients and the staffing issues of a sizeable corporate is easier said than done. It is also not yet apparent whether its culture and partnership model, not universally renowned for encouraging teamwork, has yet caught up with the startling growth of recent years. But with signs the firm is in slightly more reflective, if still upbeat, mood, SJs would appear to have a chance to build on its many strengths.More news, deals and comment on SJ Berwin