Mergers put UK firms on map as Norton Rose joins global 50

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  • The process of consolidation still has a very long way to run, the legal market remains massively fragmented and the largest firms are less than a tenth the size of the big accountancy firms.

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  • I don't think the legal market will ever end up like the accountancy market. There would be too much scope for conflicts if a law firm was to end up like Deloitte (turnover ~$26bn). That's like 15 of these law firms together.

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  • There will be more mergers, look at Clydes, BLG, DAC and Beachcrofts just in the last couple of weeks. Clydes wont' stop at UK growth either so I reckon they're a good bet to appear in the global 50 by 2014.

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  • @ Anonymous | 27-Jun-2011 4:22 pm - But the combined market share of all of these firms is very small, especially in the BRIC markets which will become far larger in the near future.
    Conflicts are of limited relevance except in litigation.

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  • The Deloitte reference is inadvertently telling. CMS Cameron McKenna are already modelling themselves on Deloitte and Hogan, DLA, Norton Rose and anyone else with a Swiss Verein is doing the same. A dozen other big law firms will go the same way, whatever Pete Kalis will tell you. At the moment it is the sole option as it allows a deep bench and unifying brand without the hassle of profits integration.

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