Every autumn, partners at elite British law firm Slaughter and May are invited for the “paterfamilias” — a chat with the senior partner or “father of the family” — about their performance. The ritual is in keeping with the law firm, which has long projected an air of rarefied mystique.
This year, however, after decades of the format, the firm has renamed the yearly dialogue as an “annual discussion”.
While the change may seem like a footnote in the history of the 135-year-old institution, it is evidence that even Slaughters is being forced to adapt in the face of an onslaught of US law firm investment in London, which has sparked the biggest market disruption in recent history.
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