BDB Pitmans, in collaboration with Alvarez & Marsal Legal Services (AMLS), announced yesterday, July 22, that they have signed a letter of intent to launch a new law firm called Broadfield.
Broadfield plans to partner with mid-market law firms across the UK, US, and continental Europe.
While joining firms will maintain their independence, they will adopt Broadfield's branding, utilise its infrastructure, and benefit from its investment capital.
Managing partner John Hutchinson described the genesis of Broadfield as an innovative solution for mid-market firms seeking better ways to deliver service, grow, and access clients and talent.
"We believe that Broadfield offers a unique way to address these issues without surrendering independence, which is crucial," he explained.
This approach allows firms to maintain their culture, “without losing control,” said Hutchinson.
The Broadfield model facilitates collaboration on cross-border client work and the opportunity to access new economies.
Technology and AI developments are among the structural headwinds Hutchinson identified for mid-market law firms.
"Going forward, having a strong technology offering is crucial,” he said. “Partnering is one route, and we think it's right for us."
Recruitment is another significant challenge, but Broadfield aims to attract top talent by showcasing its serious investments in infrastructure.
Growth through acquisition
Broadfield’s growth strategy includes organic expansion, lateral talent acquisition, and potential mergers with other firms.
"Growth is integral to our plan," Hutchinson emphasised. "We won't cease to be the firm we are today — that's important to us and our partners."
The focus is primarily on the UK and US markets, with plans to eventually expand into other jurisdictions.
Hutchinson said that talks of merging were also on the table: “There's the prospect of firms joining us by mergers. This applies within the UK and internationally, where active conversations are ongoing.”
Maintaining independence
Hutchinson stressed the importance of independence, noting that Broadfield’s approach will vary across different markets.
"The point of keeping independence is crucial,” he said. “It can't be a one-size-fits-all approach."
Collaboration will be tailored to suit the legal and cultural landscapes of each region, ensuring effective client referrals and service delivery.
"Client perception is central to our goals,” he said. “The early reaction has been positive."
The focus remains on providing the same high-quality service while integrating advanced technological capabilities and expanding the firm’s international reach.
Focus on M&A and ESG
Broadfield plans to leverage AMLS’s support to enhance its M&A services, particularly through advanced tech resources for due diligence.
ESG considerations are also a priority. "ESG is very important to us,” said Hutchinson. “One way to improve our carbon footprint and social responsibility is by having efficient systems and combining them where possible."
While infrastructure and corporate sectors are strongholds for BDB Pitmans, the firm plans to grow generally across various sectors.
"We like having a robust corporate engine," said Hutchinson, emphasising the intention to enhance existing strengths without abandoning current business areas.
