Law firms are boosting investment in marketing says report
A survey of law firms shows an increased focus on marketing and business development. The study by Bloomberg Law and the Legal Marketing Association found that 56 per cent of law firms are intending to invest more in marketing and business development in the next two years. More than two thirds of firms said that those areas are being given greater emphasis.
There is still work to be done though, the survey shows. Lawyers and marketers both feel that more could be done using technology if the systems being used by both groups were less complex, better integrated and enhanced training was offered.
Global IPO started slow in 2016, outlook is better
The first three months of 2016 has seen the slowest start to the global IPO market since the financial crisis but there are better times ahead.
A report from services firm PwC says that IPO proceeds were down 65 per cent to AU$18.5 billion compared with the same period of 2015 and were the lowest since the first quarter of 2009.
Headwinds for the IPO and debt markets were created by the historically low oil prices, slowdown in the Chinese economy and continuing uncertainties around US interest rates.
However, the report notes that there are many companies gearing up for IPOs in late 2016 and early 2017.
International firm launches advisory service
International law firm Ince & Co has launched an independent consultancy firm to offer a range of services to the shipping, energy, insurance, aviation, trade and real estate industries.
Ince Consultancy LLP is based in Hamburg, Germany (although incorporated in London) and will advise international clients on financial and tax advice and structuring of projects; introduction of third parties and deal origination; and helping clients to efficiently execute projects.
Reed Smith in merger talks
Reed Smith could be the latest international firm to expand through a merger. Its reportedly in talks with Pennsylvania-based Pepper Hamilton. Reed Smith has revenues of more than U$1 billion and more than 1,600 lawyers in offices worldwide, including 5 in Asia-Pacific; Pepper Hamilton is a US domestic firm with around 500 lawyers and revenues of less than $400 million.