'Chasing clients for a couple of months is normal, but we’re finding it’s taking longer these days—so we’re really quite focused on cutting that gap down.'
March 29, 2023 at 07:28 AM
4 minute read
Reporter
Freshfields Bruckhaus Deringer is placing greater internal pressure on reducing the firm’s lock-up—the waiting time between billing clients and being paid—according to people with knowledge of the matter.
The concerted effort to reduce lock-up follows an increase from 2021 to 2022 in waiting time, in days, for client payments.
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