Lex 100 - Reed Smith

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Reed Smith

Broadgate Tower, 20 Primrose Street, London EC2A 2RS

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The trainee verdict

The lowdown (in their own words...)

Why did you choose this firm over any others? 'Friendliness of colleagues'; 'work/life balance'; 'interesting departments'; 'size'; 'US presence'; 'better work/life balance'; 'friendly people'; 'secondments to client such as BBC Worldwide and Channel 4'; 'variety of departments'; 'good work/life balance'; 'approachable'; 'not stuffy'; 'good career progression'; 'quality of work very good'

How does your training compare with peers' at other firms? 'Treated more like an integral member of the team rather than general dogsbody'; 'we have better work/life balance'; 'we work fewer hours'; 'good hours'; 'get a lot of responsibility and with that very good guidance'; 'I tend to get a much broader experience and become more hands-on than friends at Magic Circle firms'; 'more relaxed'

Best thing about the firm? 'The office'; 'amazing views'; 'social life'; 'the people'; 'HR make an effort to get you into the right seats'; 'and note what department you want to qualify into'; 'work quality'; 'building'; 'varied work'; 'down-to-earth people'; 'regular drinks trolleys'; 'you are really made to feel part of a team'

Worst thing about the firm? 'Having to walk down 60 flights of stairs if there is a fire drill'; 'lack of information from the top of the firm'; 'computers are slow and out of date'; 'salaries are not competitive enough at associate level'

Best moment? 'Completing a hedge fund launch'; 'the charitable events which always include some celebrity faces'; 'going to France on my own for a client'; 'an amazing four-course lunch at a Michelin-starred restaurant'; 'spending six months on secondment in Abu Dhabi'

Worst moment? 'Staying till 4.30am to complete a closing'; 'sitting in a seat you have no interest in'; 'working on a document review exercise where the documents numbered into the hundreds of thousands'

The Lex 100 verdict

The firm

Reed Smith's absorption of Richards Butler in 2007 significantly enhanced its UK capabilities, as well as rounding out its international presence. It now has over 1,500 lawyers worldwide and quality practices across a wide range of areas, notably M&A, commodities, shipping, litigation and media. The firm advised one of the largest forex brokers in the world in 2010.

The star performers

Brand management; Commercial litigation; Commercial property; Commodities; Corporate and commercial; Debt recovery; Employment; Insurance; Intellectual property; Media and entertainment; Mergers and acquisitions; Shipping; Trade finance.

The deals

Advising Channel 4 on its ad sales joint venture with UKTV; advised Federated Investors on the position under Basel, the EU and the UK in terms of the functional equivalency of money market funds; acting for Forex Capital Markets on its strategic acquisition of ODL Group for $75m; advised Icon Capital on its sale and leaseback of four tankers for $167m; the defence of a GAFTA arbitration for Bunge.

The clients

Barclays; Canaccord Genuity; Channel 4; Cellzome; Dundee Securities; GMP Securities; Glencore Grain; Miraband Securities; Nike; Noble; Norgine; Orexo; Sara Lee.

The winners

Legal Business Awards 2011

Highly commended TMT team of the year.

The Verdict

A Lex 100 Winner for confidence in being kept on, the 'friendliness of colleagues, good work/life balance and interesting departments' also make US firm Reed Smith a popular choice for candidates. The firm offers 'fantastic' secondments to clients including BBC Worldwide and Channel 4 and has some interesting specialisms including shipping and commodities. The 'emphasis' on work/life balance' at this 'unstuffy' firm and the quality of work that trainees are given is 'very good'. The 'lack of hierarchy' also means that senior management is 'approachable' and it is easy to feel like 'part of the team'. Expect to get a 'much broader experience' and many comment on the more 'hands-on' training. The office is another highlight; described as 'superb' with 'amazing views' ('on a good day I can see the roof of Heathrow') the only downside is the long walk downstairs when there is a fire drill. There are opportunities to travel ('six months on secondment in Abu Dhabi') either on secondment or during deals ('went to France on my own for a client'). The fact that 'everything has to go through the US' can delay things and the fact that some US offices don't really 'get' trainees can be frustrating for some. There could also be more integration between groups and faster computer systems. However, negatives aside, Reed Smith makes trainees feel like 'valuable members of the firm' rather than 'general dogsbodies', offering 'excellent' training and 'very good guidance'. A strong contender for those looking to work in a City firm with an international presence.