Firm Consolidation Isn't Going To Slow Down In 2018

Law360, New York (December 14, 2017, 7:03 AM EST) -- The legal industry will see limited growth in demand and increasing consolidation in 2018 as firms face mounting pressures both on pricing and costs, and middle-tier firms in particular will feel the squeeze, according to a report released on Thursday.

Consolidation of small and midsize firms will be driven by increasing variability among firms’ performances, with the largest entities enjoying higher revenue growth than the rest of the industry, as well as a trend toward less predictable year-to-year demand, according to the 2018 Client Advisory report published by Citi Private Bank and Hildebrandt Consulting.

“The profession continues to perform well. It’s...

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