Reed Smith OK'd For Nonlawyer Partners, Investment In UK

Law360 (November 4, 2019, 2:30 PM EST) -- Reed Smith LLP has the go-ahead from a U.K. legal regulator to raise outside investments in the business and bring in nonlawyer partners, the firm announced Monday.

The approval from the Solicitors Regulation Authority for Reed to convert to an "alternative business structure" is the first for an international firm since the structure was created for the U.K. legal market more than a decade ago.

Tamara Box, Reed Smith managing partner in Europe and the Middle East, said the ABS move shows the firm at the forefront of BigLaw modernization.

"We are future-proofing our business and now have the agility to...

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