Herbert Smith has emerged as the latest City firm to outsource large amounts of bulk property work to regional firms – with the firm even conducting joint pitches for mandates.
The top 10 City firm has used regional firms for bulk work such as due diligence for some time but has been stepping up the practice. Partners within the firm are also pitching for particular projects alongside regional firms. Herbert Smith now outsources to Bristol’s Bond Pearce, Dickinson Dees in Newcastle and southeast firm Cripps Harries Hall.
