Management consulting group Alvarez & Marsal and U.K top 100 firm BDB Pitmans have announced plans to create a new mid-market law firm. The two institutions have signed a letter of intent to form Broadfield, featuring BDB Pitmans and utilizing Alvarez & Marsal Legal Services for various operational support. These services will include technology and back-office functions, alongside efforts to secure investment capital aimed at fostering the firm’s growth.
“Big law firms are pricing themselves out of quality work, yet mid-market firms are failing to capitalize on this dynamic due to structural headwinds,” said BDB Pitmans’ managing partner.
For more details on this collaboration, refer to the original announcement on Law.com.