Video:

Restructuring of professional practices

Author: Pamela Sayers, James Kirk (yBC.tv)

Categories: Mergers, Restructuring & Recovery, Selling your business
Tags: consolidation, firms, legal services, mergers
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. ________________________________________________________________________________________________________ Inside Finance will continue to look at restructuring across different industries in upcoming TV shows.
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