In a year characterised by a slower pace in mergers and acquisitions (M&A) and a downturn in capital markets, the global legal industry is contending with decreased demand. This unpredictable market environment is compelling numerous law firms to downsize, merge, or fold.
Notwithstanding these challenging circumstances, a select number of law firms, some with significant dependence on the M&A market, have managed to achieve growth and secure greater market shares. They have accomplished this feat by recruiting high-achieving lateral hires from their competition or through natural growth practices such as internal promotions and talent retention.
Leaders from prominent law firms such as Paul Weiss, Davis Polk and Paul Hastings share insights on their firms’ maintenance of momentum and their strategies for moving in the right direction. Despite the unique approaches employed by these firms, they all seem to share common threads in their successful navigation of the testing legal marketplace.