Market Update – November
November has seen a number of law firms disclosing their interim, half-year financial results and, thus far, the majority have reported increased revenue and profitability. We’ve also seen signs of further merger activity, notably the proposed merger between Norton Rose and Fulbright & Jaworski in June 2013. We expect further merger activity in the next 12-24 months, continued consolidation in some areas of practice, office openings overseas and cost-cutting in business services functions.
Still, opportunities remain for both lawyers and business service professionals in areas such as financial services, shipping and dispute resolution on the one hand and Human Resources on the other.
East Anglia continues to attract lawyers in Real Estate, Corporate and Agriculture.
Demand for lawyers in the Middle East remains steady both in private practice and in-house.
Further afield we expect to see a steady uptick in demand for lawyers in South East Asia, notably Singapore.
So, a mixed picture and one that in many ways mirrors recruitment activity over the past 4-5 years in the legal sector and beyond. Still, opportunities do remain and, we believe, will continue to do so in the year ahead.