Manna from heaven has emerged for M&A-fuelled City firms as research shows that the UK’s leading corporate counsel are quite happy to finance rocketing profits at top law firms – for a while yet.
The perhaps surprising central finding emerges from the latest The Verdict poll of senior in-house lawyers, conducted by Legal Week, which found more than three quarters (76%) of respondents believed law firm profits were ‘quite well deserved’ while a highly generous 2% claimed they were ‘very well deserved’. In contrast, just over a fifth of respondents (22%) took the view that law firms are raking in too much cash.
