‘There are more than 40 US law firms that are more profitable than the Magic Circle. The Magic Circle firms are, in US profit terms, very much middle-of-the-road players.’
Maurice Allen, founder of consultancy LTN & Partners, who has been a partner at Clifford Chance (CC), White & Case, Weil, Freshfields and Ropes & Gray, is under no illusions about the scale of the challenge facing the Magic Circle firms in the US. Top US firms continue to increase their profitability, while UK firms struggle to stand alongside them.
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