Morning Briefing: Firms opting for change to boost growth

A new poll reveals most businesses are planning changes for growth… PEP increases but pricing may be an issue says PwC report… Pinsent Masons adds two senior hires to its international tax practice… DLA Piper managing partner leaves to start boutique firm…

Morning Briefing: Firms opting for change to boost growth
Law firm says most businesses are planning changes for growth
Most businesses are planning growth through restructuring or transactions according to a survey by Baker & McKenzie. The poll reveals an insight into the plans of firms with turnover above US $500 million but below $5 billion with 99 per cent planning at least one change to their business model in the next two years. These plans include new product lines and internal reorganisation but the majority are looking to form partnerships or be involved in M&A activity.
 
PEP increases but pricing may be an issue says PwC report
Profit per equity partner for UK-based law firms has been below £1 million (AU$1.86) since the financial crisis began to bite in 2008 but times are changing. With improved economic conditions and growing activity the top 10 UK firms have been improving their revenues, although not yet at pre-2008 levels. The latest report from PwC shows that generally the top firms have enjoyed more chargeable hours, increased fee income and higher profits. However as figures come through for 2014 the firm expects to see income per chargeable hour falling. It says that firms should consider whether they have the right management information to allow them to make the right pricing decisions and whether they have enough understanding of what clients value and are willing to pay for. 
 
 
Pinsent Masons adds two senior hires to its international tax practice
Pinsent Masons has announced the appointment of two senior members of its tax practice in Paris and Doha. Franck Lagorce joins the firm's Paris office from Winston & Strawn, where he was a partner and Ian Anderson will be based in Doha as a consultant with the task of launching the firm’s new tax practice for the Middle East.
 
DLA Piper managing partner leaves to start boutique firm
Abdul Aziz Al-Yaqout has left his role as managing partner of DLA Piper in Kuwait to start his own boutique practice with Bader El-Jeaan, formerly of The Carlyle Group. The pair will focus on the financial sector. 

 

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