Fairfax in the Press
Fairfax in the Press
Law Firm Merger Talks Heat Up As Pandemic Increases Pressure to Scale
Lisa Smith and Fairfax merger data is quoted: “Lisa Smith…said in an interview that she expects the number of completed mergers in 2021 will “certainly” beat the 2020 numbers…”
Law Firm Mergers Rebound After Pandemic Slowdown
Fairfax merger data is cited: Fairfax’s April 1 report …anticipated “an uptick in active discussions in the coming months and a return to higher levels of completed mergers by the end of 2021 or early 2022.”
Expense Planning In 2021 Is A Moving Target For Midsize Firms
Lisa Smith is quoted: Midsize firms will likely experience relatively flat revenue, but they could see another year of strong profit growth because of continued expense savings for the first two-thirds of 2021, said Lisa Smith of Fairfax Associates, who advises law firms nationally.
Remote Work Aside, Geography Still Matters in Law Firm Mergers
Lisa Smith is quoted: “The interest in combinations is extremely high, and we’ve already, just in the last week, gotten inquiries from multiple firms trying to look at their options and trying to figure out strategy and merger options for the year,”
As Merger Appetite Grows, Firms Focus on Matching Industries and Places
Lisa Smith quoted: Smith said the increased focus on alignment between sector and geography is particularly noticeable with emerging tech hubs, like Seattle, Boston, Texas and Salt Lake City.
Last-Minute Merger Cancellation Unusual But Not Unheard Of, Analysts Say
Lisa Smith is quoted: Lisa Smith, a principal at Washington, D.C.-based Fairfax Associates, estimated that maybe one out of 10, or one out of every 15 combination discussions actually advances to the merger stage. The top reason so many don’t go further? Conflicts, she said.
The Crystal Ball Is Cloudy, but Big Law’s New Leaders Are Ready for the Challenge
Lisa Smith is quoted: Consultant Lisa Smith of Fairfax Associates says new leaders taking over in 2021 should focus on their initiatives, despite the pandemic, because ‘If they were important before, they are still important.”
After Down 2020, Analysts See ‘Full-Bore’ Appetite for Big Law Mergers in ’21
Lisa Smith and Fairfax merger data is quoted: “The interest in combinations is extremely high, and we’ve already, just in the last week, gotten inquiries from multiple firms trying to look at their options and trying to figure out strategy and merger options for the year,” she said.
Lawyers Go to Austin, Texas for Business, Stay for the Lifestyle
“Another draw for Austin is geography, Smith said. Texas has multiple business centers, and to be effective, many firms decide they need multiple offices, such as one in Dallas and another in Austin.”
Pandemic Not Changing Biz Basics For Mid-Law Overseas
Kristin Stark is quoted on international firm presence: “In order for an international presence to be successful for any firm… the international presence has to be driven by a particular practice or the firm’s client base…”
The Art of the Big Law Counteroffer: How Firms Are Fighting Rainmaker Attrition
Kristin Stark is quoted on associate moves and firm counteroffers: “Kristin Stark… said most Big Law firms are not naïve to that reality… ‘Firms aren’t doing these counteroffers because…’ “
As War for Talent Rages, Law Firms Consider How to Disengage
Kristin Stark is quoted: “Kristin Stark… said some firms have already been looking at hiring more staff attorneys who want to work at a slower pace, with different expectations than a traditional, partner-track associate, for less money…”