Bakers chief predicts decline in number of top law firms

The number of leading law firms will shrink over the next decade but those that remain will be 'highly competitive and better organized', according to Eduardo C. Leite, global chair of Baker & McKenzie.

Writing for Business of Law at Bloomberg, he says: 'Over the next decade we should see fewer major law firms, but those remaining will be highly competitive and better organized. Perhaps most importantly, they will be the firms that have ‘emerged’ as the best learners.' 

Globalisation

Explaining the way that Bakers has always developed local talent in new offices, he says: 'Law firms are learning that being global isn’t about planting flags. A colonial approach doesn’t work in the long game. Local markets require local expertise.' He also says that globalisation 'drives corporate strategy' in Bakers. The firm is famous for its long-standing international network. Source: Bloomberg

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