UK law firms plan global expansion
By Law News
UK law firms show growing confidence in international expansion, driven by strategic investment and technology
HSBC UK and Briefing's 2024/2025 Law Firm Strategy and Investment report reveals growing international ambitions among UK law firms. The survey, which gathered insights from 95 senior leaders, shows 84% of firms with an international presence plan further expansion, while 13% of domestic-only firms aim to establish operations abroad—double last year’s figures. Europe and North America are the top regions targeted for growth.
While law firms are optimistic about international opportunities, challenges persist, particularly in recruiting and retaining talent. Sourcing talent was the top concern for 59% of firm leaders, surpassing issues like regulatory changes, profitability, and geopolitical conflicts.
A major shift identified in the report is the increasing emphasis on technology. This year, 77% of leaders pointed to investments in tech by other firms as a potential disruptor, overtaking talent competition as the primary concern.
Victoria Ritchie, Head of Professional and Business Services at HSBC UK, highlighted that despite these challenges, law firms are forging ahead with growth strategies, focusing on digital transformation, sustainability, and social responsibility as key drivers of future success.