Thomas Eggar is drawing up plans for a merger in a bid to boost its profile in the City and attract outsourced work from magic and silver circle firms.
The firm confirmed that it has had approaches from London and South East firms, but said it is targeting a single-office, mid-size firm in the capital that matches its “ethos and culture”.
Managing partner Tony Edwards said: “A lot of mid-range City firms have had their margins challenged and now recognise that working with a regional firm allows them to move back office staff and the other resources that are now necessary in legal firms.”
Thomas Eggar wants to up its profile in the City because it believes outsourcing work from magic and silver circle firms will flourish in an upturn and it wants to position itself to pick up work in niche areas.
“It’s not a Mexican wave relationship,” Edwards emphasised. “There are various initiatives we enter into to do work for clients of the big City firms or individuals within those firms, and both are very effective.
“This isn’t price driven - it’s about specialist services being offered at a level that firms require; but obviously, being able to offer regional rates is very attractive.”