The golden years of the US$500 billion legal industry have passed as a result of the global financial crisis, newfound client purchasing power, outsourcing, technology and game-changing business models. Law firms are globalising at an unprecedented pace, with offshore growth opportunities on the agenda of many. With the industry at a crossroads and experiencing secular margin erosion, firms must answer:
- How to maintain profitability? For how long can a firm trade margin for market share in the partnership model? Is PPEP growth a sustainable goal? Where do clients fit into the equation?
- What growth strategies are preferred – organic or inorganic?
- To be a global firm or not? What are the consequences of the decision?
Our experience covers all aspects of strategy, mergers and governance of large, mid-sized and specialist law firms. In the current environment of domestic industry consolidation and the entry and growth of global firms in Asia and Australia, our mandates include repositioning, mergers and inbound acquisitions.
We work selectively in assisting clients to establish greenfield offices through our network of trusted executive search consultants. Our thought leadership provides up-to-the minute intelligence and interpretation of trends and key events in the Asian and Australian legal industries, as well as analysis of the top 100 global law firms.
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