Citi Private Bank
Law Firms’ Profit Expected to Grow by 5% in 2014, Report Predicts
January 15, 2014
There hasn’t been much to cheer about in the legal industry in recent years—at least not from the point of view of major law firms. But the 2014 outlook from Citi Private Bank and Hildebrandt Consulting, released on Monday, offers a little shaft of sunshine for beleaguered BigLaw after more than five years of slack demand, declining partnerproductivity and client pushback onpricing. Despite the difficulties, most major law firms have held on through the challenging years after the economic...
January 15, 2014
There hasn’t been much to cheer about in the legal industry in recent years—at least not from the point of view of major law firms. But the 2014 outlook from Citi Private Bank and Hildebrandt Consulting, released on Monday, offers a little shaft of sunshine for beleaguered BigLaw after more than five years of slack demand, declining partnerproductivity and client pushback onpricing. Despite the difficulties, most major law firms have held on through the challenging years after the economic...
Study: Boom Long Gone, But Firms Get Lift as Year Dawns
January 13, 2014
While a return to the legal industry's pre-2008 halcyon days remains out of reach, law firms should expect to see the modest positive momentum they experienced in the second half of last year extend into 2014, according to a report produced by Citi Private Bank's Law Firm Group and Hildebrandt Consulting. The nine-page client advisory [PDF], which is to be released Monday, notes that though growth in demand for legal services was down 0.6 percent at the end of 2013's third quarter, that figure...
January 13, 2014
While a return to the legal industry's pre-2008 halcyon days remains out of reach, law firms should expect to see the modest positive momentum they experienced in the second half of last year extend into 2014, according to a report produced by Citi Private Bank's Law Firm Group and Hildebrandt Consulting. The nine-page client advisory [PDF], which is to be released Monday, notes that though growth in demand for legal services was down 0.6 percent at the end of 2013's third quarter, that figure...
Citi Survey Finds Law Firm Leader Optimism on the Rise
December 26, 2013
As 2013 comes to a close, law firm managing partners are more optimistic about the year ahead than they were at the end of the third quarter, according to a recent survey conducted by Citi Private Bank's Law Firm Group. The bank's quarterly Law Watch Managing Partner Confidence Index—which plots responses from a series of questions on a 200-point index, with 100 representing a neutral opinion and 200 representing absolute confidence—found overall confidence for 2014 at 109, six points higher than...
December 26, 2013
As 2013 comes to a close, law firm managing partners are more optimistic about the year ahead than they were at the end of the third quarter, according to a recent survey conducted by Citi Private Bank's Law Firm Group. The bank's quarterly Law Watch Managing Partner Confidence Index—which plots responses from a series of questions on a 200-point index, with 100 representing a neutral opinion and 200 representing absolute confidence—found overall confidence for 2014 at 109, six points higher than...
Legal Consultant Says Biglaw May See “Wave” of Job Cuts Following Layoffs at Weil Gotshal
July 5, 2013
As you may have heard, NYC white-shoe law firm Weil, Gotshal & Manges announced yesterday that it was laying off 60 associates, 110 support staff and reducing the pay of some partners due to a decline in business. In an article covering the story in the New York Times, the Chairman of the Citi Private Bank law firm consulting group noted that Biglaw in general has not fully recovered from the Great Recession and that there are still too many lawyers chasing too few jobs. He predicts we'll...
July 5, 2013
As you may have heard, NYC white-shoe law firm Weil, Gotshal & Manges announced yesterday that it was laying off 60 associates, 110 support staff and reducing the pay of some partners due to a decline in business. In an article covering the story in the New York Times, the Chairman of the Citi Private Bank law firm consulting group noted that Biglaw in general has not fully recovered from the Great Recession and that there are still too many lawyers chasing too few jobs. He predicts we'll...
