The Global 100: The tracks of my tiers
Once again, it's merger-talk season. There was a flurry of activity last year that culminated in the various Sonnenschein Nath & Rosenthal, Norton Rose and Squire Sanders & Dempsey transoceanic combinations. They were notable because they all opted to organise as Swiss vereins rather than single-profit sharing partnerships, and all were motivated, at least in part, by a desire to get bigger so they could compete for work and talent that was waiting for those firms that, well, got bigger. The wooing continues. Consultants log George Clooney-esque air miles trying to complete promising law firm mergers. And partners seek to convince themselves either that they're not being acquired or that an acquisition is necessary to have a chance at becoming one of the Select 17 (or whatever) who will stand astride the known world, someday really soon.
As firms target mergers to help them move up the food chain of the Global 100, a 10-year view shows that ‘bet the company’ work remains dominated by a very select club. Aric Press reports
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