Stephenson Harwood (SH) is this week embarking on a wholesale review of its business strategy that will result in the loss of five London partners and an international policy u-turn following the decision of its Madrid arm to move to DLA.

The review will lead to the shake-up of the firm’s management, handing its executive more powers and turning SH’s partnership council into a supervisory body, and ultimately lead to the creation of a new partnership agreement and a new system of partners’ pay.