The often strained relationship between profit-hungry US law firms and their start-up London outposts has certainly focused minds at the UK base of Chicago firm Altheimer & Gray in recent weeks.
While the firm has no plans to retreat from London, management upheavals, managed partner exits and a re-focusing of resources on fewer practice areas indicate that the firm has initiated a review of its UK strategy. Amid pressure from its Chicago headquarters – which has itself shed more than 30 lawyers in a bid to boost profitability – the firm has taken action to increase its London office’s bottom line, managing out three partners and laying-off a small number of assistants and support staff.
