BLP confirms 40 per cent cut in profit for 2012/13

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  • Having trained at BLP, it's sad to see the firm go to the wall. Lets hope that the partner exits stop and that assistant morale goes up.

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  • When law firms start expanding rapidly through new office openings, lateral hires, mergers or a combination of all three, be ready for trouble ahead. Law firm management teams have a poor track record of implementing such expansion successfully. Add to this a great deal of hubris coming from the firm about how successful they are and the how they’re “going to take over the world” and you know that it will probably all end in tears. Shakespeares take note.

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  • re. partner departures, a BLP spokesperson said: 'We’re continually assessing partners.'

    - WTF? They seem to be suggesting the partners who moved to firms that have higher PEP were somehow 'assessed' i.e. pushed out. Hmm, not very credible....

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  • Hmmm. So the partners fail to bring in the dosh and then run for the exits when profit slumps. So much for the collegial and collaborative nature of partnership. One element that is of real interest is the profit margin at 17%. Looking forward to the time when outside investors are commonplace this is a figure many will dream of and well be at the upper end of what can be achieved. If I am correct then it follows that lawyer to equity partner ratios are going to get a lot leaner than now. Result; proportionately fewer partners earning less and more stable partnerships.

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