It’s kicking off online thanks to Mark Brandon’s Industry Leaders article. If you missed it, here are some of the highlights: London will fall to US firms, ABS is no big deal, Vereins have had it and the modern obsession with process is a waste of time.
Brandon, the founder of consultancy Motive Legal, argues that the push for law firm global domination via consolidation is doomed fail and that the idea that just a handful of mega-firms will win out is a loser. Vereins will fail, he insists, because “if you can’t persuade your other offices to play ball because there’s literally nothing in it for them you will be outpointed by rivals who can deliver global resources locally”, while anyone fearing the return of the accountants should stop worrying.
“They will fail again, because they are trying to find an answer to the wrong question,” argues Brandon.
While he’s at it Brandon insists the magic circle is doomed and thatat least two of the big four – all of which have just posted solid financial results – will have merged or be “fading into rosy irrelevance” before he retires. This argument in particular has kicked off a provocative debate not just on the future of the Magic Circle but also the future of Slaughter and May.
Want to read the flood of comments currently piling into the online debate sparked by Brandon’s opinions? Or get involved?
You know what to do.
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