Want to get this daily news briefing by email? Here’s the sign-up.
WHAT WE’RE WATCHING
ALL’S WELL THAT ENDS WELL - The Thomson Reuters Q4 2020 Peer Monitor Index is out this morning and the report tells a feel-good story few might have anticipated last March, when business stopped being conducted in offices and started being conducted next to laundry baskets. The index, a composite of factors affecting law firm profitability, such as demand, rates, productivity and expenses, reached its highest mark in a decade and a half. According to Law.com’s Andrew Maloney, the report says aggressive cost-cutting and “sky-high” worked rates in the final months of last year helped create a legal services market that, to start 2021, is the healthiest it’s been in years. (On a less sunny note, however, the report does say associates began to bear the brunt of cuts toward the end of 2020). Meanwhile, the Wells Fargo Private Bank Legal Specialty Group recently found in its own survey that firms anticipate an average revenue growth of 3.5% in 2021, with the highest-performing firms expecting something more like 5.7%.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
You Might Like
Featured FirmsLaw Offices of Gary Martin Hays & Associates P.C.75 Ponce De Leon Ave NE Ste 101Atlanta, GA 30308(470) 294-1674www.garymartinhays.comLaw Offices of Mark E. Salomone2 Oliver St #608Boston, MA 02109(857) 444-6468www.marksalomone.comSmith & Hassler1225 N Loop W #525Houston, TX 77008(713) 739-1250www.smithandhassler.com
Presented by BigVoodoo
More From ALM
Las Vegas, NV
The conference experience aimed to help insurers and litigators Prevent, Prepare, and Prevail in complex claims cases and risks.
Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession.
Daily Business Review honors attorneys and judges who have made a remarkable difference in the legal profession in Florida.
Gill & Chamas, LLC seeks an attorney to work in their Woodbridge, NJ Office. Candidate must possess either of the following: 1-3+ year...
FDA s Office of the Chief Counsel is seeking to fill several attorney positions (GS 12/13/14). These positions offer intellectually challen...
COLE SCHOTZ P.C.HUMAN RESOURCES MANAGER- NEW JERSEY OFFICE Prominent mid-Atlantic law firm with multiple regional office locations seeks a ...
New Jersey Law Journal
Frederick D. Miceli has joined the firm as Of Counsel
New Jersey Law Journal
New York Law Journal
YANIQUE L. BURKE