The legal industry can expect to see low single-digit growth in revenue and profitability next year, just as it did in 2016, according to a report released Tuesday by Citi Private Bank’s law firm group and Hildebrandt Consulting. The report states that top performing firms may continue to pull away from the rest of the pack as a result of the challenges the industry faces.
“Overall, what we’re seeing is a profession that’s pretty stable actually, but having much slower growth,” said Hildebrandt founder Brad Hildebrandt, who authored the report with Gretta Rusanow, head of advisory services at Citi, and the chair of the law firm group, Dan DiPietro. Lagging demand is one of the biggest issues the industry faces, Hildebrandt said.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
