The legal sector used to be such a nice, calm place to do business. Partners and clients would occasionally come and go. The odd practice would falter, while a few firms would make slightly more money than everyone else. But the market historically lived up to its reputation as a bastion of sleepy conservatism and resilience. Then came the financial crisis. Spanner, meet works. The legal elite has been forced to adapt to the most turbulent market conditions for a generation. As firms tussle for position in this new world order, the pronounced uptick in law firm merger activity has transformed our Global 100 rankings.
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