The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Richards Butler has started a redundancy programme with all the cuts to be made from its non-contentious practice, underlining its commitment to litigation.
Last week the firm began the consultation process, which could see up to 18 lawyers lose their jobs.
Richards Butler managing partner Roger Parker told The Lawyer: "I can confirm that we've commenced a redundancy consultation process in certain parts of our transactional business. A maximum of 18 jobs, primarily fee-earners, are at risk."
Despite turnover rising by 7 per cent to £91m last year, the non-contentious parts of the firm have struggled and there is an overcapacity, which looks set to go.
If the overall growth is compared with the dramatic rise in litigation, where revenues rose 20 per cent last year, it becomes obvious that the non-contentious practice is suffering.
"We'd hoped not to have had to take this step, but we're not immune to economic trends as a whole," continued Parker.
The firm underwent a dramatic strategy change earlier in the year, repositioning itself as a litigation referral practice to take advantage of top firms' conflicts in the City. Management felt able to do this due to the relatively small size of its finance practice compared with those firms'.
But Parker is keen to dispel fears that the finance practice is being axed, saying it is "a busy and integrated finance practice, which is developing well in a number of specialist fields".