Reed Smith is launching what is, so far as I know, the first of its kind collaborative partnership with the Wharton School of Business at the University of Pennsylvania.  Called "Reed Smith University" (RSU), the program is a customized "executive education" effort which will bring about 30 Reed-Smith practice managers, office managing partners, and other firm leaders to the Wharton campus each May for an intensive one-week immersion in courses covering leadership, business development, professional support, technology, and law.

Wharton has a reputation for tailoring similar executive education programs for the usual F100 suspects including Merck, Coca-Cola, Microsoft, and IBM, but according to a Wharton spokesperson, this is the first time a law firm has done it.

John F. Smith, III, a partner at Reed-Smith's Philadelphia office, will serve as the first RSU "Chancellor," coordinating between Wharton and the Reed-Smith partnership and helping design and fine-tune the curriculum.  While grades will not be awarded, independent contractors will evaluate the program's overall impact with a view to highlighting what works and what doesn't.

My reaction?  Nearly awe-struck at the vision of Reed-Smith to undertake this venture.  You've heard me say it before, but conceptually nothing differentiates AmLaw 100 firms as businesses from similarly sized corporations, and the time for truly professionalized management has long since arrived.  As Lynn Phillips, head of Wharton's executive education program, put it:

"I just think it shows the growing need for business development and management skills in the legal profession. I think this shows that Reed Smith recognizes how businesses are oriented today and they want to make sure that its top talent has this perspective."

The start of a trend?  It is devoutly to be wished.