Quoted In The Times

We are delighted to be quoted in the The Times (and thanks to their Legal Editor Jonathan Ames for quoting us).  In The Brief (the legal newsletter of 1 August 2024) our response to last week’s question:

“Why are big American law firms so much more profitable than their City counterparts?

Paul Bennett, partner at Bennett Briegal: There is a laser-like focus in US law firms on capturing the time spent on a matter and lawyers recording enough time per day to be profitable. And crucially, training on billing and explaining the price options is ingrained into US law firms in a manner which the UK players can aspire to but it remains a work in progress. The confidence to bill fully for the time spent and to avoid a time recording discount and then a double discount at the point of issuing the bill is rare in the UK market outside the US firms.”

Our clients know we advise on all aspects of the business of law. To be the sole quote used on an debate in the legal sector, how to remain competitive and profitable was an unexpected response from The Times.  The US law firms have undoubtedly raised standards and shown how to compete. We are fortunate that a number of the US firms use us for ethics, legal sector corporate support and legal advice so to comment on their impact in The Times was a welcome opportunity.