Restructuring and merging talk is common in professional practices but, as Giles Murphy discusses in this TV show, consolidation has been slow to materialise. Restructuring and merging of the marketplace If you look at the annual surveys that we’ve done of the marketplace over the last five years plus, in [...]
Restructuring and merging talk is common in professional practices but, as Giles Murphy discusses in this TV show, consolidation has been slow to materialise. Restructuring and merging of the marketplace If you look at the annual surveys that we’ve done of the marketplace over the last five years plus, in [...]
Restructuring and merging of legal firms, is what Smith & Williamson's Pamela Sayers is predicting in this Inside Finance TV show.
Restructuring and Mergers
I think we will see more mergers within the legal profession.
I mean there’s certainly a great deal of merger chatter at any one time.
I mean the old saying of one managing partner phoning another, saying “Fancy a cup of coffee?” what it really means is “Fancy merging?” Obviously, putting two mediocre firms together, both struggling perhaps, doesn't make a stronger firm.
So I think we’ll definitely see some more consolidation within the marketplace.
I think we’ll also see firms expanding more internationally where there’s stronger parts in other jurisdictions to improve the profitability of their firms.
And I think we’ll see more firms go down the Legal Services Act and become an alternative business structure, and perhaps either dispose of part of their business or sell their business.
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Inside Finance will continue to look at restructuring across different industries in upcoming TV shows.
