Small and regional law firms are looking to mergers to ward off competition from larger rivals, as a new tie-up in Virginia shows. Woods Rogers and Vandeventer Black are merging to create a regional firm of 130 lawyers in five Virginia offices.

The merger reflects an uptick in interest in combinations after the Covid-19 pandemic slowed the pace of tie-ups. Kent Zimmermann notes that multiple Am Law 50 firms are talking to each other about merging, as are many Am Law 100 and 200 firms. “Our merger practice is busier than it’s been in 20 years by about four times,” Zimmermann said. “As a large group of firms have grown extensively and gotten more profitable, their historic peers don’t want to be left behind and want to hit the accelerator on growth.”

In this article, Peter Zeughauser reviews the growth of Big Law and outlines what may be expected in 2022, which looks to be another big year for those firms.  Size matters.  Large firms with high revenue, high margins, and high levels of profitability will likely continue to widen the chasm between themselves and the next tier.

Zeughauser Group's 2021 Pocket Guide to the American Lawyer Rankings of the Am Law 200 by Profits Per Equity Partner and by Value Per Lawyer; The A-List; The Global 100; The Global 200; The China 50; The Asia 50; and The Corporate Scorecard.

If you would like a hard copy of the 2021 ZGuide, please send an email to zgadmin@consultzg.com with "2021 ZGuide Request" in the subject line and provide your mailing address.

While remote work has leveled the playing field for many up-and-coming young attorneys based outside major hubs, New York remains a hotspot for BigLaw partner and counsel promotions, largely driven by a recent boom in corporate work.  Paul Pearlman notes that a wave of newly minted New York partners is symptomatic of strong economic growth in the practice areas that are most prominent in the Big Apple, like finance, mergers and acquisitions, and capital markets transactions.  In reality, most firms, particularly firms in New York, have thrived during the pandemic, and for a lot of firms, one of the main keys to their success is the strength of their New York office.

There has been healthy chatter about the 2021 law firm merger market since last spring, when law firm leaders shuddered at the thought of what damage the COVID-19 crisis might inflict on BigLaw finances. Peter Zeughauser analyzes the BigLaw merger market in 2021 and senses that it seems poised for a return to normal. Indeed, by the end of January, it may feel like a snapback. By the end of 2021, last year's dip in the law firm merger market will be an anomaly, for a number of reasons.

Zeughauser Group's 2020 Pocket Guide to the American Lawyer Rankings of the Am Law 200 by Profits Per Equity Partner and by Value Per Lawyer; The A-List; The Global 100; The Global 200; The China 45; The Asia 50; and The Corporate Scorecard.

You can download the ZGuide here.

If you would like a hard copy of the 2020 ZGuide, please send an email to zgadmin@consultzg.com with "2020 ZGuide Request" in the subject line and provide your mailing address.

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