Q: Lots of organisations had no choice but to make redundancies to be able to cope with the economic conditions. What measures did you take?David: When we first saw what was happening, we met as a management team and agreed that a primary commitment was that we would do all we could to retain the collective talent that we see at all levels of the firm. We place enormous importance on attracting, developing and retaining approachable, distinctive and proactive people who combine the highest technical ability with judgement, perspective and breadth of interest.Ben: We didn't want to lose any of them. Not just for the sake of continuity of relationships with clients and contacts, but also, rather selfishly perhaps, for our own sake. A mindset that looks to the long term means that achievement is measured by what you've created for the future. So actually our proudest moment as a management team was looking at the talent in front of us at this year's fee earners' conference and seeing what a very bright future lies ahead.Sue: We didn't make any compulsory redundancies or introduce reduced working hours.In fact, we've been investing in the future of the business and recruiting new fee earners this year. We have also increased the number of partners. Indeed we start 2010/2011 with a total of 76 partners, through a combination of recruitment and promotion." 'The range of work is brilliant, but the people are what really make me want to come to work every day.' Just one remark from a contented Farrers trainee - but this reflects nearly all the other comments when trainees were asked about the best thing about their firm. another adds, 'they are some of the most generous, fun and outgoing people I have ever met.' "The Lex 100 verdict based on interviews with traineesAchievements & Ambitionslove loyaltyWe prefer to show our commitment through high quality advice, unparalleled service and long lasting relationships that benefit both our clients and ourselves."Highly Commended" for "Most Effective Employee Benefit Scheme" The 2010 Lawyer HR Awards.4Farrer & Co | 2010 ReviewFarrer & Co | 2010 Review5

Q: How much of this year's success stems from the commercial world?David: One of the biggest misconceptions about Farrers is that we only do private client work and it is one that we're working hard to correct. It is true that we are known for and are proud of our private client heritage. This is still a fundamental part of the business as is the philosophy of personal service and discretion for all our clients. However, a third of our work now comes from businesses and entrepreneurs' commercial activities. The rest is evenly split between not-for-profit organisations, and private families and individuals. Some examples of our work are set out in the Client Highlights section. This balance has stood us in good stead during these challenging times."I think the firm is first rate. It may come as a surprise to some, but the firm is anything but stuffy."A client Chambers Confidential 2010Q: With the need for careful management of your finances over this period, what impact did that have on your Corporate Responsibility programme?Henry: Managing our business responsibly for the benefit of future generations has always been at the heart of our philosophy and made our decision-making over the last year or two very simple. This isn't something we see as an add-on or a fashion.So we have in fact been extending our commitment to supporting the local community who need it in these challenging financial times, now more than ever.We've continued with our Volunteer Reading Help programme where employees help with children's reading at local schools, and the Volunteering Day policy whereby we grant every member of staff an additional paid day of leave to donate to a community activity that they want to be involved in. This year we have also been working with Barts and the London Children's Hospital on a new venture to produce a guide to affordable restaurants in the local area for families. Many of the children at the hospital are chronically ill and taking the children out of the hospital for an hour in between treatments can make a big difference to them and their families. It gives them a break from their usual routine and environment, it helps them get to know the local area, and helps get them interested in food and nutrition again. Over Christmas, volunteers from the firm also helped to decorate the children's wards and donated decorations. The Farrer Charitable Trust has continued to support over 70 causes, including providing matched funding for staff donations to the Haiti Relief Appeal.Achievements & Ambitionscontinuity comunityAs in any family, we nurture and mentor. We hope that this fostering, supportive spirit is also borne out in our volunteering programme in our local community.We are the first major UK law firm to have gone live with IP-based telephony on all external calls which has immediate cost savings as well as providing improved resilience and scalability for future growth.6Farrer & Co | 2010 ReviewFarrer & Co | 2010 Review7