Hi guys, I’ve seen there’s a thread on this from 2018 but 8 don’t think anything has been shared more recently - does anyone have good resources on answering the question - where should we open an office?
Great question! This can be tough to brooch as an answer. In my experience, the actual answer you give is only a small part of what they're actually looking for in your response. Much more emphasis here is on the reasoning you can give and the commercial understanding you show in that reasoning.
In terms of deciding on a particular place, there are loads of factors to consider. These are some of the initial points I'd want to think about:
- Does the firm have a particular industry focus? If so, is there any location where the economy is linked to that industry or sector?
- Has the firm recently undertaken work which involved a given jurisdiction but had to appoint external counsel? Is it a jurisdiction where they are likely to do more work in the future?
- Is there a jurisdiction with a rapidly growing/ changing/ developing economy which will grow into a hub for commercial transactions?
You could also take a different frame on this answer- it's not something I've seen done super often, but if it's done properly, I see no reason why it wouldn't be just as valid:
- Is there somewhere else in the UK that the firm could open up an office to run certain tasks in a more cost-effective manner for clients? For example, Norton Rose have the Newcastle hub for a lot of more labour-intensive work which it would be too expensive to do in London;
Freshfields have a large proportion of their business services staff based in a Manchester office, CC have a Newcastle office etc. Look at some of the advantages/ disadvantages, risks and benefits associated with other UK offices and then compare this with the given firm's model and work- could they benefit from a move like that?