Firms' Expenses Outpace Revenue Gains: Citi

Law360, New York (September 23, 2011, 4:22 PM EDT) -- While growth at U.S. and U.K. law firms improved in the first half of 2011, expenses appeared to rise faster than revenue as firms completed long-overdue infrastructure projects and paid competitive spring bonuses, Citi Private Bank said Thursday.

In a quarterly survey, which looked at financial trends in the Am Law 100 and Second Hundred, as well as 44 smaller firms, the bank found that clients were more prepared to discuss rate increases than they had been in the recent past and that realization had stabilized,...
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