Regional firms loosen London’s grip

Posted By: James

Monday 15th June 2015

The FT examines the impending signing of Shakespeares’ eighth merger in nine years, which will take the Birmingham-based commercial lawyers into the top 50 UK law firms. Shakespeares’ merger with SGH Martineau creates a £75m turnover business with 140 partners and reflects wider changes in the UK legal landscape, as London law firms lose market share in the regions and regional law firms step up efforts to pitch for advisory work with the country’s biggest companies. A report last month by Acritas found brand awareness of the Magic Circle London law firms has declined 15% in the past year in the broader UK market, as competition from regional rivals has increased. Andy Raynor, chief executive of Shakespeare Martineau, said the deal gives the new entity the scale to break into the advisory market for FTSE 250 companies.
 

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