The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
DAVIES Arnold Coopers' decision to axe its Manchester corporate practice is the latest in a series of hard-headed measures by firms looking to streamline and concentrate on their core practice areas.
Last week Simmons & Simmons announced it was relocating its entire seven-strong immigration team to Kingsley Napley - in an amicable arrangement, having decided to shed practices that do not complement its core business.
In December, Herbert Smith closed its shipping practice, because it did not fit in with the firm's strength in litigation, or its aim to expand its corporate practice and arbitration department.
As the dominance of the top five increases, smaller firms are having to review their strategy. This has led to a stream of rumours of mergers, but the collapse of talks between Richards Butler and Theodore Goddard highlights the difficulties that mergers present.
In this week's The Lawyer, Quentin Poole, managing partner of Wragge & Co, argues that middle-tier City firms must "concentrate on market focus and junk some of their practice areas" (page 15).
Poole says "a stunning example" of this, is US firm Wachtell Lipton, the most profitable-per-partner firm in the world, which only handles major litigation, corporate finance and M&A work.