Lisa Smith is quoted “Most firms will ride out the uncertainty and begin 2021 fresh,” said Lisa.
Fairfax Associates is referenced, “Tuesday’s report from Fairfax Associates, which found that the pandemic will dramatically impact the number of mergers that are completed in the second half of the year.”
Kristin Stark is quoted “When firms are larger and have more lease obligations and they lose partners across a swath of their geography, that’s very challenging,” Stark said.
Lisa Smith is quoted.
Lisa Smith is quoted “I think people miss it more than they expected,” she said.
Kristin Stark is quoted discussing how practice heads are serving as “mini-managing partners” as law firms fight to maintain business continuity and ensure cohesion during the COVID-19 pandemic.
Lisa Smith is quoted. “The risk is always if the group splits – that people will make their own choices and say, ‘There may be a deal, but I’m a free agent,'” Smith at Fairfax, says.
Lisa Smith is quoted. “An interesting aspect of this [M&A activity] is that you may have fewer choices,” Smith says.
Lisa Smith is quoted. “Every firm I have spoken to that meets the size criteria says they’re applying,” said Lisa Smith, a principal at the law firm consultancy Fairfax Associates. “You can probably throw a dart to any firm with 200 lawyers and probably find one.”
Lisa Smith is quoted. “From what we’ve seen, most of the discussions that were happening have had to be put on hold. A lot of it does rely on face-to-face meetings,” Smith said. “For good reason, firms are very much focused on business continuity and operating their firms successfully. The ability to have the bandwidth to look at merger discussions as well as manage a business effectively just isn’t there.”