Andrew Leaitherland: still aspiring to the top 20

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  • He sounds like a young Nigel Knowles

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  • Watch out, the nay-sayers will not like this one little bit. A refreshing positive approach to the legal profession.

    Arise Sir Leaitherland

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  • How long before they follow Cobbetts et al n

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  • Leatherland? Didn't they merge with someone and become known as DFS or by some similar acronym?

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  • Nigel Knowles or Nick Knowles??

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  • "unimpressive metrics"? LOL

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  • Just another short termist blinkered managing partner craving growth at any cost. The equity partners will treat the FSPs like employees (but still want a capital contribution) and forever dangle the carrot of equity. They will one day discover unexpected debt levels and, at best, poor financial hygiene and at worst, fraud. The overall liabilities will have been hidden from the majority of partners. The partners will all have gone through so much stress their marriages will be in tatters and health affected.
    Where do I sign?

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  • Only 23% of the partners have equity is not only tight it is a positive disincentive to recruitment and retention. Even in the more liberal US only 39.8 of partners in the AML 200 don't have equity.

    Attracting fixed share partners is going to get difficult as they will have to arrive with a cheque if HMRC have their way - and I wouldn't bet on the tax man losing that argument.

    Then there is the move to 'iconic offices' which seems to fly in the face of how the modern law firm is structured where is the insourcing location. If I were CEO I would crowing about my investment in IT not how I am going to raise margins. The latter always comes at a price especially in a market where the supply of solicitors exceeds demand and more importantly where clients now control the pricing mechanism. General counsel now effectively control and manage their employers' spend are highly unlikely to brook increases. Result; increased costs and margin under pressure. A pleasant prospect for staff - not.

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  • DWF , may well become a top "20" firm, but their margins are awful, and will only get worse. Typical law firm economics, focus on turnover and profit to be addressed later! What they say profits for sanity and turnover for vanity is demonstrated here in spades! Now Leaitherland never says what he wants to be a top 20 firm of , or for... I predict a riot... think Halliwells or much worse.

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