PwC Legal chief: we can be a top 20 global legal services business in five years

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  • we've heard it all before.

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  • Perhaps if they could attract legal staff and not just hundreds of immigration paralegals it could happen. It won't happen until they stop acting like pseudo-accountants

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  • The accontancy and professional services firms have always been light years head of the legal profession on EVERY level, almost to the point of embarassement. The Legal Services Act, and its effects WILL have a huge effect on the uper mid tier and silver circle firms, in that the big four will march all over , their historical stomping ground. The big 4 have successfully added on M&A advice and execution, tax advice, and been hugley successful in the Consulting space. Now watch how in quick order they decimate the mid-tier space, and silver circle firms. In time they will make real inroads into the "weaker" and old fshioned MC firms, now you have been told, the accountants are COMING"

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  • Hopefully the coming accontants (Mark @ 12.59pm) have a hugley better grasp of spelling and basic grammar to avoid their own embarassement

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  • I really struggle to understand any complacency at the prospect of PwC making a serious effort in the legal services market (it has only dabbled thus far, more of a hobby or sideline). The only firms not immediately threatened by this are high street firms and highly focused top end practices like Slaughter & May and Macfarlanes. Everyone in between is in the cross hairs.

    PwC is not just a US$30 billion turnover organisation, it already has a ready made global network of hundreds of offices, it has global brand which is far better known than any law firm, it has a client list which massively surpasses any law firm in size and scope and depth. It has immense internal resources in IT, consulting, process management etc.

    DLA was able to build a US$2.5 billion turnover firm in a few years with none of these advantages.

    If PwC wants it can easily be the largest law firm in the world. The only bar to this is a lack of desire, regulatory bars or competition from the rest of the big four.

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  • Mark @ 12:59pm - I highly doubt the uper and even the upper mid-tier firms are quaking in their boots at this news. The silver circle doesn't care. The only matter that might have people in the legal services world feeling slightly concerned is that the Big 4(four) accontants are adding execution to their roster of services...

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  • Hopefully the would be arm-chair commentators (Kelsey Grammar @ 1:50 pm) will correct their own spelling before drawing attention to the spelling mistakes of others. "hugley", "accontants", "embarassement"? No fullstop? But maybe you are just trying to make a point; somehow, I think not.

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  • PWCL took half the property department of the London office of a mid tier national law firm. There now appears to be one partner left.

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  • Too many conflicts

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  • Lawyers have become complacent having had it all their own way forever. This has changed already and will change more over the next few years. If you do not change and adapt to modern times the chances of success will reduce dramatically.
    However, for those that do the opportunities are huge.

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