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.
Fears for the future of the Young Solicitors Group (YSG) have been raised after it emerged that the Law Society is planning to slash its annual grant by 25 per cent, from 40,000 to 30,000.
Under the terms of the Recognised Group Agreement drafted in December, which is currently under proposal, funding levels across all Law Society groups are set for review.
YSG chair Jane Russell confirmed the cut and said they would struggle to make up the missing funds through sponsorship alone. "We might not be able to survive the next year," she said.
Christopher Digby-Bell, former Law Society member for the City, believes the cuts are "betraying the next generation of lawyers". He added: "The cut will mean that the YSG will receive only 60p from the Law Society for each young solicitor. [This is a] paltry investment in the future of the profession. This is bound to undermine young solicitors' respect for and confidence in the Law Society and could lead to the society losing support of half of its membership. Young lawyers deserve to be nurtured and encouraged by their governing body, not put down like this."
A Law Society spokesman denied that the proposed funding arrangements will pose any problems for the YSG, which represents approximately 50,000 members of the legal profession.
He said: "The Law Society's support for the YSG is not at risk. On the contrary, as a result of a new agreement governing relations with all the society's recognised groups, the society has a means of offering continuing support by reference to clear criteria. The kind of support offered is not only financial. It is true that financial resources are finite and bids for financial support, as in the case of the YSG, may significantly exceed what is available for distribution."