Regional firms head fast growers survey

DIBB Lupton Broomhead, Hammond Suddards and Shoosmiths & Harrison top the list of the 20 fastest growing UK firms, according to a new report.

'UK Solicitors 1994', published by management consultant Datamonitor, is based on information supplied by the 45 highest billing London firms and the 20 highest billing regional firms for 1992-94.

Of the 20 fastest growing firms, only seven are in London, confirming The Lawyer's findings on regional firms on 26 July.

Datamonitor's survey also shows that regional firms are catching up on London firms' fee income at a rate of 12.1 per cent per annum. They estimate that by 1998 London firms will be just 5-20 per cent more expensive than regional firms offering a similar service.

The differential is expected to be met by London firms reducing their higher costs.

The Centre for Interfirm Comparison, which carries out an annual survey of 200 law firms with the support of the Law Society, will publish its findings in January.