The first quarter of 2016 delivered a shock to firms focused on corporate and capital markets who saw a freeze in deals. Looking ahead, several law firm leaders say the uncertainty prompted by global events and the presidential election could impact legal spend for the rest of the year.
The dive in corporate business was unexpected for law firms, especially after a record year for mergers and acquisitions in 2015. In fact, in a managing partner survey last September by the American Lawyer, corporate was cited most often as the practice expected to have the highest revenue growth in 2016.
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