Thought leader

As Tim Foster, UK managing partner of Reed Smith LLP, joins Managing Partner’s editorial board, Caroline Poynton asks him about his evolving role in the London office.

What role does the UK play in extending Reed Smith’s international capabilities?

Until 2005, the UK offices of Reed Smith were the only offices of the firm outside the US. We have therefore played a big role in driving internationalisation of the firm’s business. We have helped to import significant UK business from US clients and export US business from UK clients, in key areas such as financial services, cross-border M&A and life sciences. We also played a leading role in the 2005 establishment of offices in Munich and Paris. Generally I think the UK influence has helped the firm widen its outlook and have a greater understanding of things like cultural issues in moving into new markets and winning work overseas. Having successful UK offices has also helped the firm’s growth in the US; for instance, in recruiting heavy-hitting partners in the US with international business.

How has your role developed in recent years?

I have been managing partner for the five years since the 2001 merger of UK firm Warner Cranston and Reed Smith. In the early years, more time was spent on integration issues with the wider firm. Although integration across geographic and cultural boundaries still remains important, I am now more involved in other areas, such as recruitment. Generally, however, the job has got more complex, because it is a multi-office, multi-practice and multi-layered organisation.

I understand that you are developing new practice areas in the UK to parallel expertise in the US offices (for example, in life sciences). Can you tell me more about this?

We have progressively converged our practices and strategy with the rest of Reed Smith. For instance, we have focused on work for financial-services institutions and the life-sciences industry, where Reed Smith has fantastic practices in the US. This does not mean creating new practices as such, as they build off our core strengths in M&A, finance and litigation. Our key plans now are to develop a premier European life-sciences transactional and product-liability practice; build a major London practice in sophisticated finance for banks (alongside financial-services litigation); and also develop a strong practice in funds work.

Tim Foster is UK managing partner of Reed Smith. He can be contacted at tfoster@reedsmith.co.uk