The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
Nearly one in two firms in the South East are seeking mergers, according to a survey by The Lawyer and Willott Kingston Smith & Associates.
The survey, conducted among 100 firms in March and April, also revealed partners were reluctant to devolve the decision-making authority.
Risk is a matter of growing concern to firms, with most contemplating incorporation and/or a merger to increase critical mass. Firms also see mergers as a means of reducing overheads and their dependence on a few dominant clients.
However, firms are having problems managing growth, the survey found. It showed that although 69 per cent of firms have allocated responsibility for personnel, marketing and financial matters to individuals, one third of partners were reluctant to devolve too much of the decision-making and required non-policy decisions to go to the partnership.
Simmons & Simmons finance director Alun Morris said: "It should not be a matter of the partners keeping management to themselves. A firm is everyone who works for it and contributes to the end result."