Practice Management
Largest law firms raise rates by 10% but cut staff
The top 10 law firms have raised hourly rates by over 10% to an average of almost £500 while cutting staff numbers amid growing concern about the impact of AI.
Regional consolidators outperforming rest of legal market
Regional law firm consolidators are outperforming other disruptive models in the market and also the biggest practices in the country, an analysis by PwC has shown.
Proposed LLP tax will be “big hit” on legal profession
A new tax on LLPs could be “a big hit” on the legal profession, the Law Society warned yesterday, with figures showing it would mean a 7% increase in the effective tax rate for partners.
Don’t be scared off by size of wellbeing challenge, lawyers told
Concerns about wellbeing in the law have been elevated to such a level that employers may feel overwhelmed by the thought of tackling it.
PE-backed firm set to move outside of injury work for first time
A private equity-backed serious injury firm is to move into other consumer law services for the first time with an “imminent” acquisition, Legal Futures can reveal.
PE-backed law firm expands referral network across country
An expanding West Midlands law firm, acquired this time last year by a private equity house, is to expand its referral service for smaller firms across the country.
Lawyers Who Care “breaking down barriers” for aspiring lawyers
The group Lawyers Who Care has arranged mentorships for 77 aspiring lawyers who have been in the care system in its first year, an impact report has shown.
Margins rise at mid-sized firms as role of interest income lessens
Mid-sized law firms have improved their margins for the first time since 2021 while also reducing their exposure to client interest income, according to NatWest.
PE-backed deal and reverse takeover lead latest M&A rush
The annual rush of M&A activity around the October insurance renewal season has included a private equity-backed deal and a firm buying another more than twice its size.
Law firm targets London growth after taking private equity
A 25-partner law firm has become the first mid-market practice in London to take private equity investment, with plans to grow both organically and through acquisition.
Blog
Mazur: a symptom not a cause?
If Mazur is a symptom, what does it mean for the underlying health of our civil justice system: the ‘finest legal system in the world’?
Cross-generation collaboration: the key to in-house legal tech adoption
In-house legal function leaders will increasingly have to evolve their thinking on how to manage multigenerational teams containing differing levels of technological expertise.
AI and law firm risk – the view of professional indemnity insurers
In considering law firm applications for cover, many insurers will expect to see evidence of how firms are adapting to AI and preparing for the future.
