Growing pains and tough decisions at SJ Berwin
If the cliche that pundits fall back on is that hard times require hard choices, SJ Berwin will have nothing to worry about. As can be seen from our analysis this week, the firm has not shied away from difficult decisions as its practice has been pounded by the recession. It has been ready to hold back profits to keep the business capitalised, including deciding not to pay out its most recently scheduled quarterly profit distribution last month. Likewise, the firm has shown nerve in expanding its international reach during tough times and has avoided aggressive staff cuts made at many rivals. That latter move in particular will almost certainly prove a sound business decision, reinforcing the firm’s long-term efforts to improve staff engagement.
