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Freshfields busts Asia lockstep in bid to keep rainmakers

Freshfields have been losing talent faster than you can say busted lockstep - they have upped their lawyer scales to try and keep people (unsucessfully) and now they are doing the same with partners. Anon is right about China - fee depression is endemic with Chinese SOEs squeezing each deal more than the last. Fact - only 2 non PRC firms made a profit last year and neither were MC or even top US firms. Everyone thinks that China is a pot of gold large enough for all to trough in but this is not the case and only the meanest and leanest are likely to do well financially. Good luck to FF - if they price themselves out or make China a loss leader due to their cost base then that is their choice.

18-Sep-2012

6:05 am