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BLG chief exec: Clydes deal is no rescue merger

Everywhere I look at the moment firms are trying to come to terms with what happened to them during the recession. BLG is no different. A controlling senior equity partnership which earned to much for too little almost drive the firm into the ground. The recesssion enabled the firm to let go of a few of those egos and start to refocus on its core practice of insurance. It may have been too late by then, of course, because the insurance market has contracted, there is less work around. So for BLG the world has changed around it, leaving it wanting to retrench to its core base, except the core base has disappeared. The only option left is a merger, and for BLG to have attracted Clydes is a major coup. Jabba most certainly is the future face of law firm management, and hopefully everyone, including clients, will be better off for it.

7-Jun-2011

3:05 pm