The Citi Private Bank Law Firm Group and the Hildebrandt Consulting have released their annual client advisory for 2018 and the outlook is the same compilation of tepid optimism we’ve seen for the last few years. Demand is in the tank, partner headcount is flat, and operations are getting leaner. Write Above The Law
They do note the following , all we can say about this ,is, be prepared to flush all your money down the toilet if you are a firm heading to China. And remember you aren’t going to be operating in a country with what most understand as rule of law
ATL write
One interesting observation, especially coupled with the fact that firms with a strong international presence performed better than purely domestic shops, is the changing center of geographic expansion.
For 2018 and beyond, firms tell us that they see Asia as both a challenge and opportunity. Many firms simply feel they have to be present in China, Hong Kong, and Singapore because of the rapid growth occurring in Asia, regardless of the challenges. We expect further expansion of Chinese firms outside of China. Europe is generally viewed as a challenge with the exception of Paris. London is viewed by many firms as continuing to be an opportunity, though Brexit will pose challenges. Firms with a more robust continental Europe footprint could be better positioned to gain market share as Brexit plays out if some of the business currently done in London leaves the UK. In the US, firms generally point to opportunity in New York, California, Texas, and in Washington DC.
