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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
It’s a question CMS boss Duncan Weston might be asking himself this morning. After revealing today that it has been a grim six months resulting in a lack of growth for CMS, Weston might be in need of an arm around the shoulder.
CMS’s hunt for a transatlantic partner has been blown off course since the summer with the US elections dominating.
Weston says the US does see CMS as a strong, united European network, not a disparate collection of practices and that a couple of percentage point drops in turnover will not send potential suitors scurrying back into the shadows.
When the dust settles in the US at the start of 2013, CMS will be back on their own campaign trail - pushing its convergence strategy with slogans such as ‘the most extensive legal coverage in Europe’ and ‘more offices than any law firm in the galaxy’. (We exaggerate, but not much.)
Optimistically, Weston says the state of the US economy means possible partners aren’t running a mile, and are indeed offering a consoling hug.
“It’s a case of commiseration, not damnation,” says Weston.
That may be so, but with a US merger partner yet to bite, it may take more than the Tea Party and sympathy to whet the appetite in the States.
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Going in the opposite direction is US firm Kaye Scholer, which will launch a London structured finance practice next year with a Freshfields hire
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