Happy New Year and welcome to the first Friday Edit of 2015, our weekly review of the top stories to emerge from Law Land over the past five days. Click here for full access to Legal Business or email mark.proudley@legalease.co.uk for more information. Corporate subscribers can also access our premium reporting firm-wide online and via our iPad edition as well as print copies.
Continue reading “The Friday Edit: New year, new partners and a new world order in finance”
Having joined Legal Business as editor-in-chief in early 2013 with a brief to update and expand the title, we have since made a substantial number of changes and investments, many of which we had the time to either unveil or develop through 2014. That meant expanded coverage of in-house counsel and continuing to build out the title’s online platform, both its website and iPad edition, which is freely available to subscribing law firms. More than 30,000 people also get our email briefing, which is sent out at least four times a week. This push has had a dramatic impact on our online readership, increasing our daily audience ten-fold since we re-launched the site in April 2013. I’m expecting to build on that substantially again in 2015.
In the meantime, I’m signing off with a look back at our favourite pieces and projects of the year.
Continue reading “The 2014 edit – My favourite Legal Business pieces of the year”
With Legal Business gearing up for its Christmas lunch, it’s once again time to look back on the notable events of the week – and 25 years in this case – with The Friday Edit, our informal take on current legal happenings. For subscriber content, click here for full access to Legal Business or email ‘mark.proudley@legalease.co.uk’ for more information. Corporate subscribers can also access our premium reporting firm-wide online and via our iPad edition as well as print copies.
At one point in our Regional Insight report – a major collaboration with our colleagues at The Legal 500 included with this issue of Legal Business – one GC based in the North West discusses a recent pitch in which a City law firm came out best on price against regional rivals. Surprising as it may seem, it is reflective of a dynamic that has seen London advisers focus on handling work from UK regions after realising that simply aspiring to be a City leader is a road to nowhere for many firms.
Continue reading “Comment: The national market – brutally competitive but opportunity abounds”
Law is pretty abstract. Unlike the role of a doctor or a builder, that of a lawyer is difficult to explain to a young mind. When my children eventually ask me about what I do when I ‘work’ (confusingly simultaneously a place I seem to go to and a thing I do at home; either takes me away from them) my plan is to explain that I help strangers from far off places find new homes. Like Paddington Bear.
Continue reading “Guest post: An immigration lawyer reviews Paddington and gives him some advice”
In our 25-year anniversary coverage, Cass Business School’s Laura Empson repeats a familiar refrain about the negative impact of the legal media on the profession’s values in creating league tables, particularly those on the profitability of law firms.
Continue reading “Comment: Bringing greed to law – our part in the profession’s downfall”
So, what mattered to you? Twenty five years since Legal Business launched to chronicle the dramatic changes in the legal profession much has changed and yet stays the same. Still, if you were going to launch the first publication to focus on the UK’s commercial legal sector, you couldn’t have picked a better time than 1990.
That decade was an incredible time for the profession. Primed by the twin forces of London’s Big Bang and the equally explosive phenomenon of the newly-merged Clifford Chance (CC), the 1990s had the lot: globalisation, drama, ambition, innovation, mergers, disaggregation, technology, accountants and DLA. Destinies were won and lost. By the end of the decade the profession was different. CC stands out – someone with a longer attention span than I should write a book on the firm in that era – it was an incredible institution, without question then the world’s most influential law firm. Continue reading “Legal Business celebrates 25 years and the profession as well”
25 years ago Legal Business was launched to chronicle a rapidly changing profession in the wake of Big Bang. We look back to identify 25 defining figures, events and trends that shaped a world-beating profession.
The curious nature of the legal industry means that as radically as things seem to change, they stay the same. In January 1990 the City was still being defined by the Big Bang de-regulation of London’s financial services market, even though boom was rapidly turning to bust. Leading City law firms were still basically domestic practices built around English practices with limited branch networks. An elite City law firm would not have generated much more than £100m in a good year. That scale and internationalisation would change in the coming decade – for all the talk of supposedly radical upheaval in the modern legal industry – the shake-up in the profession seen in the 1990s at the very least matches and probably outdoes anything that has happened since the turn of the millennium.
Legal Business asked more than 20 legal heavyweights to name the defining moments that shaped the profession since the launch of Legal Business.
On globalisation in law:
‘Domestic firms going global – this has been the main event of the last 25 years. That started in the mid-1990s and there has been no way back. Baker & McKenzie was a pioneer of the globalisation trend. It has done extremely well in its market. Two firms that have come from a regional base and developed well include DLA Piper – coming from [the English regions] is impressive – and Latham & Watkins from LA. Given their position 25 years ago and where they are now, these three firms come to mind.’
Continue reading “Shaping the industry – the veterans’ view on what mattered in the last 25 years”
In our 25-year anniversary coverage, Cass Business School’s Laura Empson repeats a familiar refrain about the negative impact of the legal media on the profession’s values in creating league tables, particularly those on the profitability of law firms.
There is nothing new about assertions that such rankings inflicted a huge cost to the ethos of the profession, stoking excess, greed and a culture of mobile stars. Legal Business is arguably the most directly responsible since it was the publication that in 1992 brought law firm financial rankings to the UK.
Continue reading “The profession – our part in its downfall”
