Many senior partners lack all but a “basic knowledge” of their clients’ businesses, leading to “superficial” interactions and a “disconnect between law firms and their clients”, a report has found. As a result, in-house counsel are now looking at alternative providers.
Law firms should not view mergers as a way of making costs savings, James Carter, managing partner of Charles Russell Speechlys, has warned. “Economies of scale will at best pay for the costs of merging over the next one or two years.”
Pinsent Masons is an example to other law firms on how to make the most of a Twitter account, while the ‘private’ setting on Slaughter and May’s account makes it the firm not to emulate, according to a report on the use of social media by large City law firms.