The Legal Cheek View
Heavy hitters in the world of private capital, Charles Russell Speechlys boasts “exceptionally interesting work” in a “friendly, positive and encouraging” environment. The firm’s UK spread includes offices London, Guildford and Cheltenham and CRS also has a presence in ‘private capital’ hubs such as Doha, Dubai, Geneva, Luxembourg, Manama, Paris, Zurich, Singapore, Hong Kong and, the latest addition, Milan. For law students who fancy trying a mix of private client work alongside corporate, family offices, litigation or real estate matters, this is a good place to start.
Financially, the firm is firmly in the ascendancy. Global revenues are up 11% this year to £242 million, whilst UK revenue grew 9% to £190 million. These stellar sums were accompanied by a 3% increase in average profits per equity partner (PEP), which now sits at £681,000, after a near 27% leap last year. Managing partner Simon Ridpath credited these healthy financials to CRS’ focus on internationalisation — Asia was a standout performer for the firm this year, with growth up 84% in the region, but Europe posted strong figures across the board too. CRS has also continued to build out its global partner bench, with 13 making partner in May and 15 more laterals being poached from competitors such as DLA Piper and Eversheds Sutherland in the past 12 months.
In the UK, the firm takes around 25 trainees per year across its three spaces in London, Guildford and Cheltenham. The size of the intake has the advantage that trainees are given a fair amount of responsibility and client contact, whilst still having someone to lean on when the going gets tough.
Ironically, the training is almost universally described as being “varied”, with rookies praising the “regular feedback” and “excellent support from senior colleagues”, whilst caveating this with the fact that trainee experiences can change drastically between seats: “Depending on how comfortable you are, some teams are happy for you to go straight into the ‘deep end’, eventually leading to you becoming the main client contact and leading matters” one trainee tells LC, “other associates like to keep their matters close to themselves, and you may only get involved with certain aspects of a matter which can mean your training can be slightly disjointed. There are also sometimes quiet periods, and I have found myself twiddling my thumbs at times. That being said, supervisors do try really hard to ensure that you are being given a broad range of work.” Another current rookie notes that the “opportunities as a trainee to lead client calls and go to court all the time has definitely made the training a great experience” and we are also told that “the CRS Business School [a part of the firm which provides career development support] has developed tailored programmes to promote development and career progression, which is extremely valuable”.
Work-wise, the firm’s expertise in all things private capital makes for some really interesting clientele: “the quality of work is really exceptional” one spy divulged “especially in the Private Client sphere (both UK and international) – I really don’t think there are many firms that have the same calibre of clients (many of whom are UHNW [ultra high net worth]) for this type of work.” Another adds that, “the issues that our UHNW/HNW clients face are frequently highly bespoke, requiring actual analysis instead of replicating work based off of long-established precedents.” Although there’s still more run-of-the-mill stuff to do, insiders tell us that “even when doing the most mundane tasks, there is usually always an interesting aspect to the matter you are assisting with.” Private capital isn’t a synonym for private client either so, alongside working for the uber rich, you’ll also have the chance to get involved in private equity and some more general corporate and commercial work.
There’s a certain feel-good factor within CRS’ trainee ranks, with one describing their group as a “really supportive, lovely cohort who lean on each other for those ‘silly’ questions!” Our sources tell us that “everyone gets on well and it does not feel like there is much animosity despite there being competition between certain seats.” Rookies also report on having real camaraderie and friendships with their peers. As one gushes: “The other trainees in the cohort are absolutely lovely, and we all get on really well. We are genuinely friends and it’s an amazing support system. NQs and other juniors in the team are generally really friendly, supportive and interested”.
And this sentiment seems to run even further up the ladder as trainee feedback on partner approachability is also glowing. “On the whole, the firm’s culture is genuinely how it describes itself. Respect is mutual across levels, teams, and departments. I can’t fault the support I’ve been given and superiors are generally approachable and invested in your training/development” was the summary from one. This can vary by team and seniority, with “associate and senior associate supervisors being more approachable than legal directors and partners (who rarely ever have time for you)” but this divide is said to have lessened through the introduction of open-plan seating.
The social life at Charles Russell Speechlys is also pretty good — and still improving according to our sources! Colleagues bond over departmental drinks events, and winter parties – previous locations include the Natural History Museum in London — and the firm’s annual summer parties are also said to be “great”. There’s also a “running club, lunchtime yoga and other sports groups” to get involved in when you get a spare hour away from your desk.
Luckily, it seems like this is possible at CRS as rookies describe a “good work/life balance” especially compared to other City firms. Rookies report finish times of anywhere between 6pm – 7:30pm and, whilst trainees do report some early starts and late nights, we’re told that “this is not a regular expectation and seniors are careful to check in on late finishes etc.”.
It helps that the firm operates a flexible working policy, with most lawyers spending three days in the office and two days at home. Individuals can choose which days to work from home, although we’re told those in the regional offices tend to come in more frequently. CRS is said to provide a “seamless” WFH experience, with monitors, keyboards, mouses and headphones all provided and there’s even a team that “regularly check that your setup is suitable by providing training” — neat!
Tech is said to be a focus at the firm currently, with the firm recently launching a new innovation unit ‘Advanced Client Solutions’ to streamline its work processes, developing an in-house AI tool ‘sidekick’ and announcing its collaboration with existing legal AI platform Harvey. The trainee-focused innovation programme ‘Russell Up’, which sees new recruits complete an innovation project for each training seat, has also “inspired others in teams to think about how tech can be used to streamline day-to-day processes”, according to our spies.
Current perks include subsidised gym membership, private healthcare, days off for moving house, dress for your day policy, and tennis on local courts once a week. For London staff, social events take place in the firm’s highly regarded in-house canteen-turned-pub, Charlie’s, whilst their Cheltenham counterparts head to the recently refurbished penthouse and the Guildford office get together for various activities such as the annual rounders tournament.
The London office, at 5 Fleet Place, is “very swanky, newly decorated” and the “9th floor in 5FP is particularly impressive”. The updated floors are said to be “very modern with lots of private and group meeting room space”, as well as a swish new client space. The Guildford office is also being “spruced up and made modern”, a closed plan office where trainees sit in with their supervisors. Elsewhere, a relatively recent refurbishment of the Cheltenham office “really worked wonders” whilst the Guildford office comes with a highly recommended coffee machine — essential stuff for busy lawyers!
The canteen in London — equipped with free barista-grade coffee machines — is described as “a real hub of the firm” and, whilst the Guildford and Cheltenham offices don’t have such luxuries, this doesn’t cause much discontent as both spaces are compensated by “great eating spaces” and plenty of “external food providers very close by”.
There is also a chance of going on a secondment, both client and international. Destinations include Morgan Stanley, private equity firm Actis and, internationally, in Zurich, Geneva, Paris, Luxembourg, Dubai and Hong Kong.