While it is generally agreed that a firm of monkeys could have picked up some referral work during last year’s legal services boom, the winners in this year’s financial performance table are bound by far more evolved management strategies.
And it clearly was a tale of two Cities. While the magic circle pursued international growth with complete commitment (average fee income rose by more than 42% as a result) the rest have pursued the holy grail of profits which, although a more defensive strategy, has clearly given them a short-term boost.
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