King & Wood Mallesons (KWM) was never really a law firm. For starters, it was a verein – a structure that allowed three distinct firms to create a branding opportunity – King & Wood in China, Mallesons in Australia, and SJ Berwin in the UK. As things turned out, when SJ Berwin came on board in 2013, the verein whole quickly became less than the sum of its parts.
As ALM’s Chris Johnson and Rose Walker put it in their recent feature, a verein is: “A holding structure that allows member firms to retain their existing form. The structure… enabled the three practices to combine quickly and keep their finances separate.”
