Categories:France

Gide turnover slumps below €200m for 2011

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  • Hilarious and not entirely unforeseeable.

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  • "focusing on improving client relationship and on it's staff".... Gide has not got any.

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  • @Maggie: Gide has not got any what? Clients or staff? It has both, but I think the key is that it has fewer of both than it did at one time ...

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  • It's 2012 and this hapless firm has only just realized it needs to evolve....a Dewey waiting to happen.

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  • @Anonymous 3:43am - seriously, don't you have anything better to do?!?

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  • @Anonymous 12.19pm - actually, I've already met my monthly billable target so got loadsa time to burn but to paraphrase Kaffee's retort (to Jessep in A Few Good Men), "You can't handle the truth!".

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  • (1)

    Gide has a number of excellent lawyers but its management and organization is abysmal and it has no long-term plan whatsoever.

    - It purports to be an international firm, but It is run by essentially 5 guys in Paris who have never spent any substantial time abroad.

    - It likes to think of itself as a finance firm, but it has never had anything more than an embryonic presence in London and New York.

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  • (2)

    - It has a rigid lockstep and has always lost (and continues to lose) its best talents to MC and Wall Street firms.

    - It has attempted to expand globally, but, unlike its London or US competitors, its home market is not profitable enough to sustain aggressive growth outside its home base.

    - It is also deeply affected by rampant bickering, inter-practice and inter-office feuds, opaque decision-making, constant power plays and partner hatred.

    Overall, its future is not bright -- at least as an independent firm. My own two cents is that it can either go back to being a mid-size European firm focusing on a few key markets, or merge with a global giant.

    In the short run, however, expansion is stalled and revenues and profits are down; and the exodus will most likely continue.

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  • sounds like there are a few Immoralistes there.

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  • Jessep is well right on the money here with his astute observations of Gide's Allo Allo style to international law. Porte Etroite should take note: “Knowing how to free oneself is nothing; the difficult thing is knowing how to live with that freedom”- this is the ultimate lesson"

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