For this issue, .The Lawyer again interviewed partners from all the leading UK law firms who are quoted throughout the series of articles. The online issue includes an in-depth video interviews with David Morley from Allen & Overy and Tony Angel from DLA Piper.
Here are some of the most startling predictions:
- Seven more transatlantic mergers
- The End of “the Magic Circle”
- The disappearance of 25 of the top 100 firms by 2018
- China will open it’s legal market in 10 years.
- At least one firm will succumb to a cybersecurity attack
- By 2023 there will be 3 global insurance firms
- Women will still represent only 20% of UK partners.
- Asian law firms will be represented in the Global top 10
- One Swiss Verien will collapse
- Five firms will have spectacular implosions.
- Apprenticeships will increase pathways to the legal profession.
And of course there is the seemingly permanent prediction of the “end of the billable hour,” but I don’t think anyone is placing money on that bet.