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Unlocking the client dividend in a merger

By Andrew Hedley, Director, Hedley Consulting

19 February 2013

Any merger should seek to build a sustainable competitive advantage. What this means in practice is that vision is needed to create a client proposition which is more compelling than either firm could offer before and, crucially, better than other firms competing for the same work.

A characteristic of the newly-emerging legal services market is a simultaneous trend towards consolidation and specialisation. As well as getting larger, firms are also becoming much more focused in their objectives, strategies ?and implementation.

The market opportunities for the smaller, generalist practice are limited. There will still, of course, be a requirement for such firms in places that are geographically isolated, where the service has to be delivered face to face and where the risks of using a generalist rather than a specialist firm are judged reasonable. However, this is a fast-shrin...

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