Top 100 Law Firms Worried About M&A Slowdown
There have been several articles in leading law magazines and journals over the last few days warning about a slowdown in M&A activity impacting on revenues at those law firms which are reliant on dealflow. From the Lawyer Monthly:
Law firms are increasingly concerned that the current slowdown in M&A activity will damage their profitability, reveals new research by Thomson Reuters Legal business, the world’s leading source of intelligent information for businesses and professionals. Global M&A activity was 18% lower in the first quarter of 2016 than in the same period the prior year*. Thomson Reuters points out that a decline in M&A activity is particularly significant for law firm revenues as this work tends to feed instructions in other areas such as employment, competition and tax.Concerns Growing Among Top 100 Law Firms That Slowdown in M&A Will Damage Profitability
Global Legal Post covered the same story a couple of days ago, City AM says that London’s booming Fintech sector will soften the blow and the FT is keeping its fingers crossed that the Chinese will come to the rescue and pick up the slack. Others are not convinced with the likes of Scottish Legal agreeing on the doom and gloom.
To the best of our knowledge nobody has set up a Just Giving campaign to help these law firms out.