In Wake Of Q1, Managing Partners Predict Slow ’09

Law360, New York (May 26, 2009, 12:00 AM EDT) -- After witnessing decreased revenue in the first quarter of 2009, many law firms are worried that business will continue to wane over the next year, according to a recent survey.

Citi Private Bank's Managing Partner Confidence Index Survey found that 66 percent of the 175 law firm managing partners surveyed believed that demand for legal services would be down or flat for the next year.

Seventy-one percent of firm heads also believed profits would be level or down in 2009 in comparison with 54 percent in...
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