Lawyers in the north of England are talking down the effect of the credit crunch on their practices this year. Are they delusional or will they be proved correct in their predictions? Nick Hilborne talks to the region’s managing partners
The credit crunch has apparently done little, so far, to change law firms’ fortunes – or so they would have us believe. But it has noticeably changed the mood among lawyers based in the north of England. Most managing partners, while remaining cautiously optimistic, will admit to being concerned about what happens after the end of this financial year. DLA Piper Sheffield managing partner Stephen Sly sits with the optimists on the effects of the credit crunch: “If we are not careful we will talk ourselves into a recession,” he says. “What is happening is a necessary and overdue adjustment to an overheated market.”
