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NY and London Firms Won't Tie Knot
When New York's Rogers & Wells announced it was merging with London's Clifford Chance last spring, industry watchers widely predicted a flurry of transatlantic mergers would soon follow. But they were wrong. One year after the news broke, there has not been a single top-tier New York firm, or even second-tier firm, to combine with a top United Kingdom firm.Report: Linklaters, Aussie Legal Giant AAR in Talks About Joining Forces
The Global 100 2010: Sound as a Pound
Before the downturn, the sterling's rise made strong performances by British firms look even better. Now the weaker pound is making poor results look even worse.Major U.K. Firms Cut Back Profit Payouts Amid Tough Markets
A growing number of U.K. firms are either holding back or reducing partner profit distributions as a result of the recession. Pinsent Masons and DLA Piper have both withheld profit distributions in recent months. Pinsent has withheld its last two quarterly profit distributions, with the firm attributing the "profits distribution holiday" to a series of management responses to the recession. DLA held back its August distribution firmwide and has yet to decide on its next payment, due in November.Can Your Firm Cope Without Its Leader?
The loss of a leader can rip the heart out of a law firm, sapping morale, identity and confidence. Case in point: Boston's Testa, Hurwitz & Thibeault, which dissolved this year. Some firms actually resist facing up to managing partners' retirement or the phasing out of their duties -- a situation that one consultant likens to "telling your father that he now ought to take the back seat." To those who haven't planned ahead, experts warn that a fear of dealing with the future can leave a law firm without one.Partner Profits Plunge at Top U.K. Firms, but Revenues Hold Steady
The U.K.'s top law firms have suffered a dramatic fall in profitability and a shrinking market in what has been confirmed as the worst economic conditions for the profession since the early 1990s. Legal Week's 2008-09 results, the first comprehensive picture of the performance of the U.K.'s top 50 law firms, shows that profits per equity partner across the group on average fell by 17.3 percent.When Leaders Exit, Firms Struggle To Cope
A leader who involves himself in the firm's succession arrangement can help alleviate the discomfort that the firm may experience when trying to plan for a changing of the guard.Trending Stories
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