‘My terms of reference include a requirement to propose a framework that promotes the public and consumer interest, promotes competition, promotes innovation and is transparent,’ wrote Sir David Clementi in 2004. ‘I do not believe that the current combination of regulatory and representative powers, in particular within the Law Society and the Bar Council, permit …
It’s been a bumpy ride for many of the UK’s largest firms, fighting battered profits with consolidation and increased global expansion. Welcome to the Legal Business 100, where headline revenue increases hide a tougher reality When the UK’s 62nd largest law firm by revenue is suddenly wiped off the face of the earth, despite posting …
Continue reading “LB100 – The top 25: The age of turbulence”
Followers of the tussle between UK and US private equity practices for European mandates were last month rewarded with an instruction to both camps by leading buyout house CVC Capital Partners in its acquisitions of Domestic & General (D&G) and Campbell Soup. Advent International agreed to sell extended warranty provider D&G to CVC in a …
Which firms are the most profitable? In this table we blend together all of our profitability measures, including PEP, profit per lawyer and profit margin to discover which of the top 100 firms are the most profitable. The 100 firms have been ranked according to their mean rank across all three measurements.
From consolidation to price pressure, to market confidence, leading management figures at Legal Business 100 firms give us their views on the 2012/13 year and the challenges ahead Value for money ‘We’re facing fee pressure of course – and it won’t ease – but there is recognition from clients of different levels of service. The …
Continue reading “LB 100 – The Last Word: Eyes on the storm”
Success is a mysterious beast. Hard to define, built up over years and often the result of a formula even its creators struggle to understand. But failure, well, that’s simple. When a law firm runs into difficulties you can point to bickering partners, problem offices, a weak client-base or an unworkable strategy. Whatever it is, …
LB100 LAW FIRMS The firms that appear in the LB100 are the top 100 firms in the UK, ranked by gross fee income generated over the financial year 2012/13 – usually 1 May 2012 to 30 April 2013. We call these the 2013 results. Where firms have identical fee incomes, the firms are ranked according …
Scott Gibson and Kristi Edwards argue that GCs have secured a short-term advantage over their external advisers at the risk of undermining their own position In the decade prior to the collapse of Lehman Brothers, an excess of work masked the corrosive effect to law firms from competition with increasingly sophisticated and growing in-house legal …
Continue reading “Dissent: Why the in-house triumph over law firms may prove short-lived”
