Bakers advances financial integration with 8-city profit pool
Baker McKenzie has decided to move forward with a plan to pull together eight of its offices in Europe, the Middle East, and Africa into a single profit pool.
Elected to lead the firm towards full financial integration, global antitrust chief Fiona Carlin is overseeing the pooling process, which involves 1,000 lawyers in the offices of Amsterdam, Bahrain, Brussels, Johannesburg, London, Madrid, Qatar, and Stockholm.
Chair Paul Rawlinson benefits from the symbolic improvement of institutional integrity, a challenge for a firm with such worldwide juggernaut status. The new structure is set to take effect on 1 July.
London head of EU Samantha Mobley praised Carlin, stating that the firm had “chosen the right person” for the task. Carlin brings to fruition an agenda pioneered in the 1990s by Bakers’ Christine Lagarde.