There might be giants

As all your mythographer friends will tell you, giants are strong, violent and associated with primeval chaos and beanstalks.

So let us consider the inexplicable contrast with the fast-paced modern world of business, where Gog and Magog are the good guys. And so it is in the insurance law firm market, where Goliath is getting the edge over David.

Hot on the heels of news of a proposed merger between Clyde & Co and Barlow Lyde & Gilbert that would “destroy the competition” (see story), The Lawyer yesterday exclusively revealed that Beachcroft and Davies Arnold Cooper are close to forming their own £175m giant (see story).

So what does this mean for their rivals? Well, it certainly tests their mettle. Take Kennedys, which has posted turnover indicating its slowest growth in three years (see story).

Following global revenue growth of 30.7 per cent and 31.3 per cent in 2008/09 and 2009/10, this turnover was up a mere 10.4 per cent, leaving the firm entirely defenceless when all these insurance giants start running amok.

Of course, we’re only joking; Kennedys is perfectly safe. Still, it might be an idea to start investing in a slingshot or two.


Also on Clifford Chance and Slaughters on Aviva and RAC; The Lawyer Awards winners; what SJ Berwin’s boss really thinks the firm should do next; and why A&O and Herbert Smith don’t worry Northern Irish firms.