After shedding partners, doubling-down their bets on foreign offices and tightening management controls, the global Magic Circle practices are outdoing many of their U.S.-based rivals. The irony is that the English firms have succeeded by following the lesson of their American peers: They've hedged their bets. For U.S. firms, that's often meant a big dose of litigation and bankruptcy work to balance a corporate shortfall. For the British, the strategy has been geographic: spreading risk across continents.
The 2008 Global 100: The English Advantage
The American Lawyer
October 2, 2008