The top 10 City firm along with German counterpart CMS Hasche Sigle, French firm CMS Bureau Francis Lefebvre and the seven other member firms are set to vote to confirm the principles of the convergence plan. The vote will confirm some of the basic elements of the convergence programme such as the name the firms plan to use and the proportion of cost-sharing.
The nine-firm CMS network initially started working on a blueprint to work more closely together last year, working on increasing links between the network. Although this will exclude profit-sharing, there is likely to be common branding, conflict-checking and an element of cost-sharing.
The firms hope to be viewed as a single entity while remaining financially independent partnerships, a similar structure to that used by accountancy giant Deloitte.
The vote will mark the latest stage of the firms’ long-term plan to integrate. When the CMS network was established in 1999, the firms initially agreed a plan to work increasingly closer together with a view to convergence later down the line.
The vote comes as the network is also considering establishing its first joint office under the CMS banner, with Camerons, Hasche Sigle and Francis Lefebvre floating plans to bring together their
