Branching out - how top law firms are going beyond the City to cut costs
Deutsche Bank's global head of compliance, Simon Dodds, is one of many senior in-house lawyers to have called on City-based law firms to farm out straightforward legal work to low-cost centres. "Magic circle law firms in particular have a problem with their model. [They have] commoditised to some extent but lawyers are sitting in London – the most expensive place in the world," he told a Legal Week conference.
With no let-up from clients to cut costs, law firms are finally waking up to the need drive down legal process costs. Gerard Starkey and Anna Reynolds chart the growing trend of firms establishing low-cost outposts
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