Innovation, “like breathing, is not optional if a firm wishes to prosper in a highly competitive legal services marketplace”, according to George Bull, chair of professional practices group, Baker Tilly, in a briefing to professional firms. He recommends that firms add value by providing services which clients are not paying for and do not expect. Innovation in a firm’s distinguishing features is important, he says, including “the style of delivery, value-added elements of the service and the cultural values of the firm”.
19 February 2015
Law firms must innovate to prosper
MOVERS & SHAKERS
Signature Litigation—Catherine Naylor
International fraud and asset recovery offering boosted by partner hire
Stevens & Bolton—Alexa Payet
Private wealth disputes team adds contentious probate specialist
Morgan Lewis—Paul Feldberg
Firm strengthens investigations and sanctions capabilities with London partner hire
NEWS
Cheshire West, which established an ‘acid test’ for deprivation of liberty safeguards, has been overturned by the Supreme Court
The Chancery Division and other segments of the High Court are to be replaced by a new Business and Property Division (BPD), in a major civil justice shakeup
Law firms that hold client money will need to file annual accountants’ reports and make a declaration, the Solicitors Regulation Authority (SRA) confirmed this week
Two district judges and a tribunal judge have been sanctioned for delays in delivering judgments and orders
Private equity (PE) investment into UK law firms halved to £250m last year, but deal volume rose, according to research by Acquira Professional Services’ Momentum private equity market tracker
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