Law firm sector mergers on the rise
Law firms are likely to consolidate across sectors this year, prompting large-scale movement among lawyers.
According to the latest annual research by legal publisher Sweet & Maxwell, 10% of UK law firm finance directors said they expected to merge this year.
One in four large law firms also said they were likely to hire large teams of partners from rival firms in 2010. This reflects efforts to improve profitability in sectors such as white-collar crime, commercial litigation, and restructuring, City AM has reported.
While consolidations among smaller firms look likely this year, Tony Williams, of legal consultancy Jomati, predicts a spate of big international mergers in 2011 and 2012.