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10 February 2023 / Seamus Hoar , Nick Carrad
Issue: 8012 / Categories: Features , Profession , Legal services
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All hands on deck for 2023

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In the face of economic headwinds, how best can law firms chart a course for 2023? Seamus Hoar & Nick Carrad explain the benefits of looking back to plan ahead
  • The inevitable challenges of economic uncertainty and changing client demand in the year ahead could prove an opportunity for the legal sector.
  • Now is the time to put past experience to use, drawing on hindsight to approach 2023 with strategic foresight.

Last year saw activity in the legal sector continue at pace, with demand for both individual partners and team moves remaining high in all markets, including London and Paris. Now that we have entered 2023, the legal sector will undoubtedly face some key challenges: a broad economic slowdown and changing client demand, with attendant pressure on profits per equity partner (PEP).

Lessons from 2008

The year ahead threatens widespread economic uncertainty, and firms will be considering how they can best prepare for a possible recession. Many will likely turn to their 2008 global financial

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MOVERS & SHAKERS

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Sponsored by
Gibson Dunn—Richard Surtees

Gibson Dunn—Richard Surtees

Gibson Dunn adds employee benefits and executive compensation practice in London with partner Richard Surtees

Laytons ETL—Alec Cameron

Laytons ETL—Alec Cameron

Laytons ETL appoints new partner and head of intellectual property disputes

Muckle LLP—Roland Fairlamb

Muckle LLP—Roland Fairlamb

Specialist associate solicitor rejoins Muckle’s leading employment team

NEWS
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NLJ this week: Property cases reshape established principles
A series of recent decisions has clarified important principles across property law, from perpetuities to lease renewals and public rights over land
NLJ this week: Stress ruling raises the bar for employers
Employers cannot rely on wellbeing services alone to defend workplace stress claims after a High Court decision awarding almost £1m to an overworked employee
NLJ this week: Can Manchesterism revive access to justice?
Andy Burnham's brand of 'Manchesterism' could offer fresh thinking on legal aid and access to justice if it reaches Westminster, according to Roger Smith, NLJ columnist and former director of JUSTICE
NLJ this week: Constitutional conventions tested as power changes hands
The constitutional fallout from a change of prime minister, rather than the politics, is under scrutiny as questions arise over the limits of executive authority in a leadership transition
NLJ this week: Lawyers must become product designers
The legal profession is undergoing a fundamental shift from selling services to creating technology-enabled products, according to Professor Luke Mason, Head of School of Law at Regent's University London
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