...is not so much that they have set up a division of the business targeted at more junior lawyers.

It is not clear from the story how it will work in practice.

What is interesting is that for the first 3 years the lawyers will not specialise, the idea being to give them broad experience so they can advise the clients on a wide range of issues. 

This goes against the traditional drive to specialise and for me is a key part of a model that clients will buy in the future, the trusted adviser.