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Embracing your law firm’s risk-averse nature after the financial crisis

By Manju Manglani, Editor, Managing Partner

19 September 2014

Everyone responds differently
in a crisis. Some freeze, others
panic; several try to take charge. Only a few are able to recognise the opportunities to change things for the better. The global financial crisis had a similar effect on law firms - many panicked and found that, after shedding resources to consolidate their positions, they were unable to fend for themselves and were forced to ask competitors to acquire them. They rushed into action
and didn't stop to consider their longer-term objectives.

With the worst of the recession now behind us, the question now facing the firms which survived this self-culling process intact is whether they should start investing in growth again; they will certainly have seen some of their peers announcing bold expansion plans in recent months.

However, following competitors into a 'hot' jurisdiction should never be a stronger driver than the pull of client demand for a physical prese...

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