BERWINS
SHAKES UP THE ALSO-RANS AS THE ECONOMIC DOWNTURN HITS
HOME
T
he same five big solicitors firms continue to dominate
the sector, while the decline in the UK economy is beginning
to affect who remains in the bottom half of the legal
tables, and who falls off.
Berwin
Leighton Paisner leap frogged several established rivals
this quarter to put in a stong showing in several of
the legal tables. Its weakest showing was in the table
of total stock market clients, where it sneaked in at
number 11, there being a tie for 7th spot between DLA
and Pinsent Curtis
Biddle. However, its total of 43.5 stock market
company clients gave it the springboard it needed to
feature in all three other tables: 6th position in the
table of clients making the most profit; 9th in the
table of fastest growing clients; and 7th in the earnings
rankings.
Berwin's
showing apart, there were few dramatic developments
with regard to the ranking across the 'size' tables.
Market shares remain pretty stable, with Clifford Chance
contin-uing to boast the largest number of stock market
clients, two ahead of Eversheds, with Ashurst Morris
Crisp holding onto the remaining podium position. All
three firms increased their net client numbers over
the quarter. Berwin's entrance at number 11 was at the
expense of the previous incumbent, Nabarro Nathanson.
However, the qualifications for this position have improved:
43.5 clients for Berwins against Nabarro's 39 last quarter.
So the competition for table entrants is hotting up
somewhat.
Slaughters
took top slot in the aggregate pretax profit rankings,
ahead of last quarter's top dog Linklaters & Alliance,
with Norton Rose in third position. Berwin's 6th position
shook up the middle rankings, while Nabarro Nathanson
dropped out. It is noteworthy that, the previous quarter,
an aggregate client pretax profit of £696.8m was
necessary to secure Nabarro's position; this quarter
Clifford Chance needed onlyL106.1m more evidence
of the economic downturn hitting the corporate sector.
Clifford
Chance retained top slot in the table listing clients
with the fastest increasing earnings, ahead of last
quarter's also ran, Hammond Suddards Edge, and a resurgent
Pinsent Curtis Biddle.
Last quarter's third-placed Herbert Smith fell victim
to a big fall-off in client earnings per share, plummeting
eight places to number 11. Overall, only top dog Clifford
Chance could boast a clientele with a double-digit EPS
growth quite something in the current economic
climate.
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