“Most of the firms began to expand strongly, both domestically and overseas. Chastened by the recession, Herbert Smith preferred to watch and wait, its efforts to set a strategic course being best described as desultory.” An apt description, but the following passage from Tom Phillips’ surprisingly entertaining book, ‘A History of Herbert Smith’, actually describes the outlook 20 years ago as the firm peered anxiously at the turbulent early 90s legal market.
Herbert Smith would do well to the learn the lessons of the past – but then this is a firm that has more often seemed bound by history than able to seek instruction from it. It has a proud legacy, having acted for many pioneering and influential corporate clients over its 129 years and, after World War II, having pretty much written the book for the modern City litigator.
