Practice Management
Mergers, acquisitions and new firms abound in autumn rush
There has been a slew of mergers announced in recent days across the country, as usually happens at this time of the year when most firms still renew their professional indemnity insurance.
Big firms’ support for clients during pandemic hit billable hours but not profits
Support for clients during the pandemic cut larger UK law firms’ billable hours by 15% but most maintained profits. Clients are now demanding greater financial transparency and pricing flexibility.
Law firms a “hostile environment” for CILEX lawyers
CILEX lawyers face discrimination and unfair treatment by fellow professionals and particularly their employers, and the organisation has called for a summit to tackle the law’s “crisis of culture”.
Pandemic has accelerated change in the law “by two to four years”
Law firms have exited the worst of the pandemic in confident mood and less concerned about competitive pressure in the market, a survey has found. There was also an uptick in interest in mergers.
Lawyers “spend too much time socialising with other lawyers”
Lawyers could improve their mental health by spending less time away from the workplace socialising with other lawyers, a leading QC has said.
Major report: Law’s culture has to change to tackle wellbeing crisis
The “organisational culture” of the legal profession needs to change to tackle the ongoing problems of mental ill-health, bullying and harassment, major new research has found.
Ashurst elevates ‘New Law’ tech roles to careers alongside lawyers
The ‘New Law’ arm of City firm Ashurst has created a formal career pathway for legal technology specialists to run in parallel with the traditional roles available to lawyers.
Recruiter launches automated data tool for law firm mergers
A legal recruitment specialist has launched what is believed to be the first automated data tool for law firm mergers to speed up the early stages of due diligence.
Increased indemnity costs “biggest threat” to smaller law firms
Smaller law firms have survived the pandemic well but are very worried about possible increases in the cost of their professional indemnity insurance, a report has found.
Mishcon de Reya to list – and more firms are set to follow
Partners at London law firm Mishcon de Reya have voted to press ahead with a premium listing on the stock exchange, with experts predicting more to follow.
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
