ࡱ> n_cenX33 PNG  IHDR77JgAMA pHYsNIDATx;rkWᵾà" f4DLPLbL*.Ջ`Kl}~X%Yk?p!ӈ122"2ޯ/p+UDdĈ׿iQxzyeE~vRpk1^Z9ŴOUFs{E432z4^F\SfFDM/9GN?iP)XWfx)؈""+"*sDD`,Ӯv/P)X)b~gaX4Ed<ň1g~Zn{Ȭհ#2ƈQ2J U +[aߪiylD DqSoW)#fˈ9^)bw|?P)8^##rz9y?{U~.1/U?SJ/ӈQ9O1E"22j)r}o?KTp+/K[/{ ?W2b#FOժ=ExȈʬ##c_k v}^*W9F xmԨ[ʌ%3P4=}R)`2)"cӅ~Gb2HO~*Ti/gF)MwLjo9YU1e#_L0.vgT EVV>#Q>79.ʋJװڢ̈)bʩ""ZKix-}TU &kT POG^qauU8Vͨ$8DRrT تy̦T ؤe0/c)`st~_y_ y9Qj-j1T ؊tlUGU)`;4jyT ؆C#f\U XJj戫T X0ѷh*+Rj鼭?5*Pi؛v*ˬOK0:R)`UlX1ׁ~*<}K{ؔ|Y=RqKc,,}+RIԚXOaWRa֥E~cጥɲ;C%P)`IJ:aGU X(j5JvVa15*zKkQR@_PR@SR@G5ѷvIߚxa,4S鎾8R@'֢xKF.-*0jpYCJwns*Upd S)n*(pE |8pknP*X9OU)v|1n;E[ZP)rvtpeQ|˯ p-azJWa/U˳1:ثRe>.E (.H"epDq\(L c)\zT 8 &NWO֢dJ''NSTJq)_\R2}\R~zIJG]Q)(Mp( q{*hR7oVWRw$nⳭ*|/S)9pIs}|@o_{R@DDQR@Y>R) ݥ) }סJSmG$lY>S)(%K-c)ؖ12IU 6$c2DzlB8*1tQ)XHC{O`冝,G˔J.KhJJ74S)X$#P)Xb_R*fX1k+R#v>ᷯϗ/)<|oGT ,#fb]~93RX5X V<,MP)X$bE1F*˕C`1WX 8،_*$6JivƻlæKA_eǙJAg"֩t5()^ߺ3t4? KA/#AR)F'Ff(u)($xoJM驻){_t2Rp7i_S)]X?yLKLaT n*}p1 b] n$np4c)ʨr2 Pa,702.:dd\p)T 'MpP)*pRp U&2T .l!Qp)q&Pp1oi,W~ @_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_*@_;͖/wTIENDB`n5_)2źb}06PNG  IHDRm% ,gAMAPLTE """)))UUUMMMBBB999|PP֭3f333f3333f3ffffff3f̙3ff333f333333333f33333333f33f3ff3f3f3f3333f33̙33333f333333f3333f3ffffff3f33ff3f3f3f3fff3ffffffffff3ffff̙fff3fffff3fff333f3f3ff3ff33f̙̙3̙ff̙̙̙3f̙3f̙333f3̙333f3ffffff3f̙̙3f̙3f3f333f3333f3fff̙fff3f̙3f3f̙fffffffff!___www˲𠠤X"N pHYs `Qa IDATxQvؒa=zIZ]i`"?ܔgWnop6΁m8pl9 s`6΁m8mnG70̊mnY<>hhC)=z4̪s|'mwx"??'5u Nj6Ffb6O @hmx'donpr2yHmeZ'f%fkEl?-#fIeZgfcls)r2y3lɟ~jeZ,MeZ(iVm0JnZ&akE< lM+xm0LnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrZM+x=0iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gA+6h!7CJmCnZl68ܴ؆mp.i \rb9WC'6~@6ls&_vRoza36[>7ð ۜɗY?q= ۰djN'϶۰lgd۴gמ}8{g=wIئ g6"ll3H_OM(lS+6a6G~?oGaZ۶?rپM(lS+6a6G'6"l~'yGgۇmjE;M&lS+6߁m2aZl Ԋwx6?k7ðM|ɄmjE;M&lS+6߁m2aZ(iM`ܴئVm0JnZlS+6%7-aԊ FMmjE6"lQrbZ(iM`ܴئVm0JnZlS+6%7-aԊ FMmjE6"lQrbZ(iM`ܴئVm0JnZlS+6%7-aԊ FMmjE6"lQrbZ(iM`ܴئVm0JnZlS+6%7-aԊ FMmjE6"lQrbZ(iM`ܴئVm0JnZlS+6%7-aԊ FMmjE6"lQrbZ DomjE^6:Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=r9b]AiM`ܴئVm0JnZlS+6%7-aԊ FMmjE6"lQrbZ(iM`ܴئVm0JnZ9 i` ۰ %7-aKnZl68ܴ؆mxMy 5*?=a#Fúͦb۰oa fß^{ l6Gu6 6 ]/=a#F-iǖGl3`gk;|l6Gl^ [yaz#_Wy 6Z<3Ӎ :Wga ^o 6qlM LLmZ^x{Om户ѽm;ilT8៝B0/a9mf!۬]Uh~/kwL؆mx-TB6*LΘu{%y ۰ox,͞ɏL[ .i 63?4;c6wf6lss|2y%ߡr{l6G&X"e۬]^ 6ZfPmb~Ky,~ˋD؆mxM 'jXVX˝6|Om璛۰ %7-aKnZl68ܴ؆mp.i \rb6lsMm璛۰ %7-aKnZl68ܴ؆mp.i \rb6lsMm璛۰ %7-aKnZl68ܴ؆mp.i \rb6lsMm璛۰ %7-aKnZl68ܴ؆mp.i \rb6lsMm璛۰ %7-aKnZl68ܴ؆mp.i \rb6lsMm~mp%7}l#lӽm`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠[.Kܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6qxx6aOU<9ۜǎq[QڱqѶ xr9m5㶢cW]Als8ۼk\Cm۶Ͱ?<9ۜǶmf_Njy-Dlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr 'ݛe#fI6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMm6cԖm0JnZlS[>(iMmuc kEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&aA_{< ^"l3࿪lNOpEL^+67#7x*nkE'E{zfr֋Vmޙ8mvpEL^+6L 0m3?6/vǧ>kܵ$&><]k_+z,&aXbi N>~.Vm>Vb'/N^{eg; z0&aذmn'…Z=׊Jw19v!d/N^\\ӣ1y|m徸NGcZXoǪKmkEc%n86lsML^+6<6kY:\0yۼ39g[+_N#lsML^+6|waձq+ΙO~ llf>o}ԏwh'ul3eegʿO{O0.O6dz3{8{y\C mZ##t'gV&٦#xrimmZa<'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iO6h!7-<9ܴ۠'gVlr mBnZ ZM+xrA iOl+o#xd#fI`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn1  s q}la\wm zs 6!xu7۠=@lS41r/^'< s 6-?}}V7_~s 6s[<6#žNn l9>pm~ >p~はe m_&w#LZ>nS_Yx^殱raoo?LM~2]^c67|i ۦmͻa/^]?/f&Sw&ҭlթ~-9d͛pQ&?JMl[;#l ϧ7}kn6yng l_095B~ig<6_Vmz65mʯ}6yn!ϣCٺ`r՝m6߶&}ql^0k |a<ئvY Kl_k;qZ>ݰݻ۳ٰڴd|U<ئxs~a_C6.X׆m֮ټۯw·m`-dkm ~fLܺi lԖom' u.5R۸)۴6l\l~ݧkYfiWYFװM"lTw+6ySaM&y*l 6Om6a<橰&l۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml& hIDATAl۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y(Jto6GYpl۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y zO>4ҽ`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmCn A{6=`hmC7``t/}l&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`6y z`<=Ml&Al۠Ƀm6m`p˥{`kEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZ(iVm0JnZ&akEeZk ~:rzv˃mvk놾S%`]xwo{_{.eyGux;=kئVU`]Խwqw]) -sy.=wҹ?&5w,ӧc6|83f]9 l|db6,n~ߓޟ`5W6?`˃mvK?{6_5E/oo7`]X46_YoYm޻ysy.{,^x{`qy nzQ㮛6hsq)= )w/;<=p>2+ ͵Ysy..KL}^u/X4b/\=埋mzxz&wNvz׷_tϷ+˧6ر&'={/ԖϿCۭs.,{`ᕷ>ٸ<[jsZ3OÞ˃mvYbz۾mIi_p깛m9ӧc60=Ƞmw//E<}2\lϟ{8U"l3RJHL^+6znku$&ao0i.ցVm{}p"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊ FM"lQr2y`ܴL^+6%7-׊`.eKkEn3+W;M"+!W|iK{+iV6m采\ky eZO1:(`KkE&'1 N"7-׊f!oo]m~56'7-׊Nj6x6/?mq۬g6lsq3m]mvlcrŖ~[cU^9h6dmkw{ o1Gݷ||L/ی^_^=B,:^ag٣Wg']y+ Mܨ5+m揗]/f>*s'=z> ;~b]r^fƜ|8k,ڿ-Z<]١}~6Ή"|Ez5x6o_sl+uf[-yle+Y{u5_-\ }H{یpΞ> |)>{"_f/vQoջOo^\Vnz.*s']_l3{4h,vlsw#Ymq[?klN^A۬ƪf>dZ{7 mo=f{|63& ی6mV*jo_O^Q̲۬uoZt6#<}mvNˆ'#<2j6\_a+ftmkf}..~X3>tSYke"bOV{VVy&Oxom N_G٫;'_oCNVo+禸#}瓽ɿʹrڋkr{k6kR7RvνD6?/|!^L?d6t>dװmɿ˴ڰ֋5½ߵe9γ?7dz?8:5ܮU߳+'ffVTLJv@8 g4KdKdlb0dbf @pp<4BdBd___PPT9 / 0z? %O =O Globalisation of Law   Peter Charlton London Managing Partner  Clifford Chance 13 January 2003 K u3SummaryvMy perspective About law firms! The Law Firm market Historical overview The development of Clifford Chance What next?w (w4My perspectiveStarted legal career in 1979 with Clifford Chance Specialised in Company law/Mergers & Acquisitions Became a partner in 1986 Became Managing Partner (Corporate) in 1993 and Managing Partner (London) in 2000 Practitioner/Manager not an academic Totally subjective5About law firms! (and lawyers)62About law firms! (cont d)Business law firms Other practices (divorce, family, criminal, wills and probate, residential conveyancing, welfare and immigration)  2=2About law firms! (cont d)n Corporate Finance Capital Markets Litigation and Dispute Resolution Real Estate Tax, Pensions & Employment >ml>2About law firms! (cont d)Banks, insurance companies and other financial institutions National, regional, global corporations Markets, governments, government agencies, local authorities etc (9Law firm market:0Law firm market (cont d);Law firm market in London<Law firm market - Global@Historical Overview1860  1900 Apex of British power and influence Establishment of English law as accepted system in international trade and contractual relations City of London is the dominant international financial market A8Historical Overview (cont d)1860  1900 Establishment of US nation and unification of Germany Industrialisation of US and German economy Creation of single US market Development of national brands in US Immigration to US US overtakes the UK in industrial production 4 0Z(0Z(ZB8Historical Overview (cont d)41900 - 1945 1914 - 1918 First World War Boom/Bust  1929 crash and Great Depression 1939-1945 Second World War Decline of UK as world and economic power "  2 2?8Historical Overview (cont d)b1945-1980 s Consolidation of the US economic position Cold War Reconstruction in Europe  creation of EU Technological and Communications revolution Regulation and Deregulation $  ( (C8Historical Overview (cont d)1980 s - Industrial Consolidation Development of service economies Rapid technology and Communications development Privatisation Deregulation of markets City maintains position as international financial centre US  dominant global capital market  increased importance of US law Increasing sophistication and complexity Anglo Saxon transaction techniques dominate * emD"The Development of Clifford ChanceGnDevelopment of Clifford Chance  Offices worldwide 20037 NDevelopment of StrategyDevelopment outside London initially small scale, opportunistic and partner/client led Merger in 1987 provided impetus and released energy High ambition, need to differentiate and willingness to invest By 1989  strategy developed to be the leading European Firm By 1999  strategy developed to be the leading Global Firm Mergers in 2000 in the US and Germany $h0ZZiF`Development of Clifford Chance  Global Network H<The firm is now truly global & !  IR& and well balanced across practice areas**! * KJBalance of practices is different across practice areas in certain regionsKK!J    J What next?tEconomic uncertainty Slow down/recession Further consolidation Increased regulation Forces of globalisation continueu (u LLaw firm market - GlobalO Questions $    /A ` ̙33` 3` 3333f` 999MMM` f` f3` 3>?" dd@#?l2d@  # @n`l(( n?" dd@   @@``@n?" dd@  @@``PN    @ ` `pB` B`  P (  0144.      `T'vgֳgֳ ? v a*2hh88   `'vgֳgֳ ?  v _*2hh88    `(vgֳgֳ ?  v a*2 hh88  Z(vgֳgֳ ?`a0 v T Click to edit Master title style! !  T4)vgֳgֳ ?k  v :Click to edit Master text styles Second Level Third Level !   ;F P N P" 9   f)v 1?e GC 2   " :   f)v 1?Be GL 2   " ;   fT*v 1?de GI 2   " <   f*v 1?e GF 2   " =   f+v 1?"e GF 2   " >   ft+v 1?'e GO 2   " ?   f+v 1?Ie GR 2   " @   f4,v 1?Pe GD 2   " A   f,v 1? GC 2   " B   f,v 1?D GH 2   " C   fT-v 1?[ GA 2   " D   f-v 1? GN 2   " E   f.v 1?  GC 2   " F   ft.v 1?0 GE 2   "xB P BD?P`P"H  0LJ޽h? ? X $Blank Presentation  0?!(    Z/gֳgֳ ?p v T Click to edit Master title style! !  T/gֳgֳ ? U+  v W#Click to edit Master subtitle style$ $ F P 1 P 2  `$0 1?e GC 2    3  `0 1?Be GL 2    4  `0 1?de GI 2    5  `D1 1?e GF 2    6  `1 1?"e GF 2    7  `2 1?'e GO 2    8  `d2 1?Ie GR 2    9  `2 1?Pe GD 2    :  ` 1? GC 2    ;  ` 1?D GH 2    <  `T 1?[ GA 2    =  ` 1? GN 2    >  ` 1?  GC 2    ?  `t 1?0 GE 2   H  0LJ޽h? ? X 0 bZPt(  t t N ?U  v a* 2    t N ?  v c*(2   p t 0 ?*H  v6 t Nt ? Q   RClick to edit Master text styles Second level Third level Fourth level Fifth level!     S  t TԴ ?1U   a* 2    t T4 ?1   c*(2   H t 0޽h ? ̙33 @`D(  ` ` 04 U  v A* 2  ` 0   v C*(2  ` 6 U  v A* 2  ` 6T   v C*(2 H ` 0޽h ? ̙33 `d(  dl d C TxH  l d C    H d 0޽h ? X  p4P(  4r 4 S t hk8    4 S 4 Tp<$D 0  H 4 0޽h ? X  P(  r  S  `a0     S  x+M<$D 0  H  0޽h ? Xl  0 (  r  S  hx8     c $Ժ xO <$ 0  bPartnership model Zh$,L*  H] ?@G,$D 0 ~Highly consensual > l2 2 hh9   H^ ?@ xG ,$D 0 !Regulated and jurisdiction based >! l2 2! hh?   Nt_ ?x ,$D 0 !Individualistic and independent > l2 2  hh&    `4` ?  ,$D 0 b, management resistant 25   N` ? x0 ,$D  0 #Relatively slow to internationalise2$ l2# hhll V   V,$D  0  TTa ?V ,$D  0 professional services organisations  accountants, management consultants, investment banks etc&` l2`(   `b ?  ,$D  0 \& compared to other 2  Zb ?,$D 0 Q(limited access to capital) 2   Zc ?v: ,$D 0 bFlat structure& l22 hh   HTd ?xh,$D 0 ` Conservative& l22  hhH  0޽h ? X!   a(  r  S d `c0     S e @|K( <$D 0 v    Nte ?`,$D 0 W ( l22 hhH  0޽h ? X  <4$(  $x $ c $e `c0    $ c $4f T<$D 0  h $ Nf ?6N},$D 0 `Business law firms  distinguished by work type (1 l221 hhH $ 0޽h ? XT   ((  (r  ( S f `a0     ( S Tg x ;M<$D 0  <  ( Zh ?A ,$D 0 ~:& and distinguished by client( l2H ( 0޽h ? X  WO(    S $ `a0<$D 0   l hf hf,$D 0   6V f ,$0 hFull service integrators  2  r  s Ashow 1/1/1.tif 00037F4A Tam's Mac ABA78158:Fz ,$D 02  C xD_ж_ж ? ,$0 NProfit(2  *  3 r_ж_ж ? ,$0 LSize(2     3 r_ж_ж ? VQ *,$D 0 B(2      6Z .,$0 g Specialists, 2      6$ c7,$0 WShapers  2  8   3 r_ж_ж ?  ,$D 0 Z ((2      6f o : ,$0 Z Incumbents 2   .  # l_ж_ж ? F ,$0 V $0F2$    B F'  tSource: McKinsey"      6t! p i  lFull service integrators&     3 r!_ж_ж ?hP LHigh(2     3 r4"_ж_ж ?v g# MLarge(2     3 r"_ж_ж ?~ p+ MSmall(2     3 r"_ж_ж ?/ P  WLow&(2   H  0޽h ? X3  /3'3E0 2(  r  S T# `a0   0  3 r$_ж_ж ?"J9 ,$0 ZNo. of fee earners(2  08 Nf .0   6$ f ,$0 hFull service integrators  2  r  s Ashow 1/1/1.tif 00037F4A Tam's Mac ABA78158:zz ,$D 0,  S ~4%_ж_ж ?lX ,$0 B(2     3 r%_ж_ж ?` V *,$D 0 B(2      6T& ,$0 g Specialists, 2      6& ,$0 WShapers  2  8   3 r'_ж_ж ?  ,$D 0 Z ((2   .  # lt'_ж_ж ?s ,$0 V $0F2$    64(  Av  lFull service integrators&     3 r(_ж_ж ?Nu L1980(2   xB X HD?x  xB [ HD?`x ` xB \ HD?@ @ xB ] HD?z  xB ^ HD?H H xB _ HD?@ @ xB ` HD?6 6 xB a HD?  xB b HD? xB c HD? xB d HD? |  e N( ?8~  70(2  f  `T) ?~  7200 2  h  `) ?~  7400 2  i  `* ?~  7600 2  j  `t* ?~  7800 2  k  `* ? ~  81000 2  l  `4+ ?v ~  81200 2  m  `De ?f ~  81400 2  n  `e ?6 ~ Z  81600 2  o  `f ?^ ~  81800 2  p  `df ?V~ z 82000 2 xB rB HD?PxxB sB HD?HpxB tB HD?Hp pp xB uB HD?H8p8xB vB HD?HpxB xB HD?BjxB yB HD?J@r@xB {B HD?Hp pp xB |B HD?H p xB }B HD?@ h xB ~B HD?8x `x xB B HD?8H `H xB B HD?H p xB B HD?HpxB B HD?T|   `f ? H  50 2    `$g ?0 (%  7100 2    `g ?0 (}  7200 2    `g ?0+ (  7300 2    `Dh ?0{ (  7400 2    `h ?0 (]  7500 2    `i ?0+ (  7600 2    `di ?0s(  7700 2    `i ?0(M 7800 2    `$j ?0( 7900 2    `j ?03T 81000 2    `j ?0T5 81100 2    `Dk ?0T 81200 2    `k ?0[T 81300 2    `l ?0Tm 81400 2 x2  H?h X   Tf&l ?pp  LPPP (000 s) 2    6m! Z ,$0 Z Incumbents 2   H  0޽h ? X,_  ^^pH^(  r  S m `a0   0  3 rn_ж_ж ? I,$0 ZNo. of fee earners(2  j   s Ashow 1/1/1.tif 00037F4A Tam's Mac ABA78158:B ,$D 0$   S ~o_ж_ж ?# ,$0 B(2     3 rdo_ж_ж ? l ,$D 0 B(2     6$pK ,$0 g Specialists, 2      6pL\  ,$0 WShapers  2  0  3 rp_ж_ж ? ,$D 0 Z ((2   &  # lt_ж_ж ? A ,$0 V $0F2$    64l   lFull service integrators&     3 r_ж_ж ? p L2001(2   pB  HD? GG pB  HD? EE pB  HD? pB  HD? pB  HD? ``pB  HD? pB  HD? pB  HD? pB  HD?  pB  HD? pB  HD? yy  N ?  70(2    `T ? ~ 7200 2    ` ? ~ 7400 2     ` ?  ~ 7600 2  !  `t ? / ( ~ 7800 2  "  `Կ ? 6 Z ~ 81000 2  #  `4 ? @ d ~ 81200 2  $  ` ? e ~ 81400 2  %  ` ? c~ 81600 2  &  `T ? ~ 81800 2  '  ` ? 6~ 82000 2 pB (@ HD?pB )@ HD?  pB *@ HD?   pB +@ HD?pB ,@ HD?00pB -@ HD?pB .@ HD?pB /@ HD?  pB 0@ HD?P P pB 1@ HD?  pB 2@ HD?  pB 3@ HD?  pB 4@ HD?P P pB 5@ HD?@@pB 6@ HD? 7  ` ?x , 50 2  8  `t ?   7100 2  9  ` ?G   7200 2  :  `4 ? (  7300 2  ;  ` ? w  7400 2  <  ` ?$   7500 2  =  `T ? %  7600 2  >  ` ?l  7700 2  ?  ` ? 7800 2  @  `t ?` 7900 2  A  ` ?( 81000 2  B  `4 ? 81100 2  C  ` ?E 81200 2  D  ` ?N 81300 2  E  `T ?+ 81400 2  G Tf& ?  LPPP (000 s) 2  H 6t6 u ,$0 Z Incumbents 2   v2 M N? N N6 ?8 e =S&M 2 L  p  R# x2 S H?   T H47 ? p  F 2    [ N7 ?PP  G MacFarlanes (2  L  p  \# @ x2 ] H?   ^ HT8 ? p  F 2   v2 ` N?h , s  a N8 ?@ m  H (2    b  `t9 ?  g BH. Smith 2   c  `4: ?j x E Freshfields 2   d  `: ?2tr <CC 2  e  `T; ? ] JL laters 2   f  `; ?b E  =A&O 2  h  `t< ?* '  BAshursts 2   i  `4= ? D_  BGouldens 2   j  `= ?R   =TSB 2  k  `T> ? ,g  D T. Goddard 2  & l # l>_ж_ж ?s < ,$0 V $0F2$  N m # l?_ж_ж ? ,$0 ~ HSE60F2$     n  `t? ?"   ALovells 2  o  `? ? D   @N.Rose 2  p  `4@ ?  g  =S&S 2  q  `@ ?B  =CMS 2  r  `TA ? 6  C S.Harwood 2   s  `A ? W  =DLA 2  t  `q ?   C Eversheds 2  L  p  u#  x2 v H?   w HTr ? p  F 2   L  p  {#   x2 | H?   } Hr ? p  F 2   L  p  ~# ` @ x2  H?    Hs ? p  H (2   v2  N? 3   Nts ?H  H (2   L  p  #   x2  H?    Hs ? p  H (2   L  p  #  h  x2  H?    H4t ? p  H (2   L  p  #   x2  H?    Ht ? p  H (2   L  p  # (  x2  H?    Ht ? p  H (2   L  p  # X `  8 x2  H?    HTu ? p  H (2   L  p  #  h x2  H?    Hu ? p  H (2   L  p  # H (x2  H?    Hv ? p  H (2   L  p  # p ( x2  H?    Htv ? p  H (2   L  p  # X xx2  H?    Hv ? p  H (2   L  p  #  @h x2  H?    H4w ? p  H (2   L  p  # ( @ x2  H?    Hw ? p  H (2   H  0޽h ? XW  VV $ +V(   r   S w `a0   $   S ~Tx_ж_ж ?; $^k ,$0 B(2  pB % @ HD? O pB * @ HD? P pB + @ HD?> O> pB , @ HD? O pB - @ HD?G KG pB . @ HD? Ax pB / @ HD?{ Ax{ pB 0 @ HD?OpB 1 @ HD?" O"  4   `x ? 0 7100 2  5   `y ?   7200 2  6   `ty ? .  7300 2  7   `y ?   7400 2  8   `4z ?o   7500 2  9   `z ?   7600 2  :   `z ?`   7700 2  ;   `T{ ? b  7800 2  <   `{ ?N   7900 2  =   `| ?K  81000 2 pB $ @ HD?kOkpB ' @ HD?OpB ( @ HD?iOipB ) @ HD?LpB 2 @ HD?O >   `t| ?+ 81100 2  ?   `| ?: 81200 2  @   `4} ?. 81300 2  A   ` ?\ 81400 2 0   3 r_ж_ж ? ,$0 ZNo. of fee earners(2  j   s Ashow 1/1/1.tif 00037F4A Tam's Mac ABA78158:,$D 0   3 r_ж_ж ?T T (,$D 0 B(2     6d'8,$0 g Specialists, 2      6_4,$0 WShapers  2  0   3 rt_ж_ж ? ,$D 0 Z ((2   &   # l_ж_ж ? _ F ,$0 V $0F2$     6 , lFull service integrators&      3 r_ж_ж ?kE L2002(2       `T ?E   81000 2  B  Tf& ?ho  LPPP (000 s) 2  C  6C } ,$0 Z Incumbents 2   p2 E @ H? F  N4 ?1 =WLR 2  V   ` ?K  =SA  2  Z  # l_ж_ж ?  ,$0 I 0F2  % [  # lT_ж_ж ? _   ,$0 U $0F2$  pB  @ HD?RpB  @ HD?GpB  @ HD?GpB  @ HD?H    ` ?C 81500 2     ` ?K 81600 2     `t ?F 81700 2     ` ?M 81800 2 pB  @ HD??xpB  @ HD?i?xi    `4 ? 81900 2     ` ?# 82000 2     ` ? & @ 2   dB   <D?dB   <D?    ZT ? h 7400 2    Z ? h  81800 2    Z ? h 7600 2    Zt ? hdj 7800 2    Zd@ ? h4h  81000 2    Z@ ? h, `  81200 2    T$A ? h  81400 2    ZA ? h  81600 2    ZA ? hp  82000 2    ZDB ? hDx 83400 2    ZB ? h< p 82200 2    ZC ? hP 82400 2    ZdC ? h( 82600 2    ZC ? h 82800 2    T$D ? h 83000 2    ZD ? h\ 83200 2    ZD ? h.b 83600 2 p2   H? SC     `DE ? `I  =CSM 2 v2   N? 0`n   ZE ?<  =DPW 2    ZF ?j|  =STB 2    ZdF ?  =S&C 2    ZF ?O <PW 2    N$G ?" <MT 2    ZG ? L : _  <JD 2    NG ?  o  ;E 2    ZDH ?]  =S&M 2    ZH ?P  <AO 2    ZI ?P pZ  <FF 2    NdI ?P   <CC 2 p2   H? # p2   H?SSp2   H?fp2   H?[p2   H?vp2   H?Mnp2   H?+; p2   H? F # p2   H?  + p2   H?  P p2   H? P p2   H? EP    ZI ? 6  =B&M 2 jB   BD?``@jB   BD?@jB   BD?  @jB   BD?@jB   BD?@jB   BD? @jB   BD? @jB   BD?p p @jB   BD?0 0 @jB   BD? @jB   BD? @jB   BD?@jB   BD?@jB   BD?PP@jB   BD?@jB   BD?@jB   BD?@jB   BD?@p2   H?    Z$J ? j  <LL 2 j2   B?P 8 ` H   0޽h ? X<   0|(  0 0 S J `a0<$D 0    0 S J k <$D 0  H 0 0޽h ? X  0<\(  <x < c $K `a0    < c $L P%<$ 0  H < 0޽h ? X  @@\(  @x @ c $4 `a0    @ c $ m<$ 0  H @ 0޽h ? X  P,V(  ,x , c $T `a0    , S  h=<$D 0  H , 0޽h ? X  `H\(  Hx H c $4 `a0    H c $ H<$D 0  H H 0޽h ? X     pZL0 ( (  L L S  `a0<$D 0   J l `  ZLh ,$D 00t ` P UL` P,$D 0T@ `  SL` ~B LL ND|?p p~B ML ND|? ` x2 L H]>?`P ?L Ht ?P PCoward Chance (Est 1802)(2vt p  WLp ,$D 0H@   X  RL  X xB PL HD|?H  X xB OL HD|? @ X @ @ p@   VLp@  x2  L H]>?p@   @L H4 ?p@   RClifford-Turner (Est 1900)(2t @  TL@ ,$D 0x2  L H]>?@  AL H ?0 P0 X  L1987 CLIFFORD CHANCE(2@t    YL  ,$D 0r 7L B?B@    XL  xB QL HD|? @H@x2  L H]>?   BL HT ?p  r:2000 Mergers with Rogers & Wells (US) and Punder (Germany);(2;H L 0޽h ? X3  ˎÎX K(  X~ X s * `d0    X Ztxaxa1?5 @ a Berlin (95)  hh88x  X s P BCODE\Fd1?WW@EV[%%6 .6"@"IS0L8c,u?1x`egcrLt:SwjwrjfC6*""- 6w!{0;A?JXm1DK 1:.6Of>i9!Ps(.*4 ". 2'W(f2cL}jl{t}qhfJn/(lq$7IN92%,-Ew3aUbVA9! j<Dh6w@"=8 v}goO` _EZCWz{kbvQkBXI1  z[>;J9 +A:OHPabkoi_+hyqXF=:.7:J9'I0\AGg:v-mb5C.27! ?-#spgpu^e^OMFO8J,:,"#6 C6?, &7AjuuchTT+}`W_7=I`{QZbV+86S'Vw _E_D;000@VcwrdjRnDbN[b#TzdeZOJ83D40#D,HAKX_;(e%I1:JO[:{L\::-@N  X s BC1DE F(1?4*[0N#@ $  X s BLCDEF$1? 7K!@ !t8  X s BQC,DE F(1?" "+P)#+"@K   X s BVCYDE0F81? H"2+3.L+R@UOCXCG*NH@U[  X s BCJDE$F,1? *P!FI?@   X s BRC@DEF 1?4(Q8?4 @k  X s BC^DE,F41? G;Wl J?DS&]G@DF8  X s BCDE<FD1?%#[ ;TwdK~UH+/ 4% @ X s B^CDE$F,1? 7]1M No@   X s BCDEF1?((&^m^1> $ASjdYiwA}5\}RKy5KtK<G_P`5tf>QT@   X s B,C3DEF 1? (+2 @ F  X s BcClDE$F,1? \=9$LbT8@:k\@ y* X s BKCuDE$F,1? **J4CO*tQ;*@K ! h X s @B|C2DEF1?55!8O 3PT9}xy*y1B!ODK{t(vT'xoZYe&YSnNb3qS nK_~< Xkl@H R   X s BCDE0F81? '4^HYvhR[  @C   X s B8C>DEF$1?) 07%/=)@ >  X s B5C_DE F(1?%  34^ H%@'   X s BQChDE(F01? >c!g2W!2EP>@% /  X s BCDE$F,1? ] Mjj1vUL]@ G  X s BtC+DEF$1? Y rs* @   X s BCDE$F,1? hAm[}{^09@ !  X s BMC?DEF$1?44+>L$H4@tT X s B+CDEF1?)*n) @Qk X s BCzDE,F41? yb<bRAq+yeKw)ry@#;  X s BC6DEF1?5, @   X s BQC@DEF$1?,>P?2 @ tQ  X s BCkDE F(1?[)jZ6a3[@7   !X s B=CEDEF$1?D4?<&-D@ ` "X s 8BcCDEPFX1?$%6#59<P`Nqbta! q'f&I N'$),@l X " #X s BC)DEF 1?# (  @  $X s B(CDEF1?!' @ )    %X s BT CDEF1?&&\AKQ:~:i/GC^r!L%ni& Y^O%:?IrophT=1) 8h} Sbw[E1sN}jdbIl5Xp+jSEb@}ax961R r    n ` n x 1   2    \ G/ _T 8  7 . 2  ]twxP8(p .8Prpz BxSuh-C@/F^Zq^@X"8X(Ij <Pl2C A"n{r`B=U?#40TC>4&6,$IELjxntEIokoR mllrSG/*j:r^M{7:]<:Yq5BY]brv\OI2+(6>XXobv "-L)1'9/=Xv9|Irf~rvD\MP@I +  &X s BCDEF1?kk5WroZyCorSP;K6*5%8#c>*W x <n /A[=HI4FkiI;8D[hhw "'2Bu4QAcboZsnwHiAW<X'3I[gGl.X&# uosudM"c*=].@9 S 'X s BGC2DEF1?""1F" @B( (X s BCC,DEF$1?;B 8+*@ )X s BOCLDE F(1?)C5 K%N:-K)@C0 *X s BCGDE8F@1?." BR&p'\ r{$3s2BF. @i +X s B\C5DE$F,1? +4?C&W[R.+@q ,X s BQC,DE F(1?P+K)@Li -X s BCKDE(F01? j 1$5JDJ @H .X s BCDEF1?110"1"K<U6o^E^EloqWA8O.A!#ASWxlq\a7DA6!.P0l'CmL<+!0cd@(@ /X s BCbDE@FH1?#>11=7<=!$@{h 0X s @BtC(DEF1?55@#-C0'A<E'Snv4#4E:JY_(is2x9EsYV,0EF9'xj[jvm_J%K@kl@B* 1X s BC/DEF1? .  @    2X s B!C DEF1?   @   3X s B-CDEF1?,  @ V  4X s BC*DE$F,1? # ) @ QQ  5X s B(C DEF1?'  @E Vz  6X s B C DEF1?  @   7X s B C)DE(F01?  (( @9 sm  8X s BCDEF1?  @! V  9X s B5CDEF 1?4,&  @k {  :X s BCDEF1?  @U   ;X s BC,DEF1?++ @   X s BCDEF1?   @ B  ?X s B#CDEF 1? " @MS @X s BRC(DE F(1?  5QHJ ' @SE8 AX s B\C/DE<FD1?%%"K.W)NT [ G3D : @;fp BX s BOC0DE(F01? )/F%N< -0%$)@U  CX s BWC,DE0F81? 15KHV$*'& !+@2 DX s B7C DEF$1? '6@T EX s B?CDEF1? (> @[ FX s B*CDEF1?)" @^B GX 61? A ^B HX@ 61?6 k ^B IX@ 61? M^B JX 61? ^B KX@ 61?  ; ^B LX@ 61? [ ^B MX@ 61? < ^B NX@ 61?c  ^B OX 61?r ^B PX 61? .^B QX 61?\ +F^B RX 61? ^B SX@ 61?  TX  `4xaxa1?  d  dBarcelona (55) hh88 UX Zxaxa1?   dNew York (964) hh88 VX Zxaxa1?c^  dLondon (2,520) hh88 WX ZOxaxa1? z dBrussels (104) hh88 XX ZdPxaxa1?o  b Madrid (198)  hh88 YX Z$Qxaxa1?1 @  eAmsterdam (297) hh88 ZX ZQxaxa1?;1  fDusseldorf (218) hh88 [X ZRxaxa1? c Budapest )80) hh88 \X ZdSxaxa1?k  a Paris (462)  hh88 ]X Z$Txaxa1? 5 a Warsaw (86)  hh88 ^X ZTxaxa1?- a Moscow (84)  hh88^B _X 61?j P `X ZUxaxa1?0,  a Prague (43)  hh88 aX ZdVxaxa1? & L  _ Rome (57)  hh88 bX Z$Wxaxa1?V g  b Beijing (26)  hh88 cX ZWxaxa1?Z 5 #  ` Dubai (50)  hh88^B dX 61? `  eX ZXxaxa1? h  eHong Kong (367) hh88^B fX@ 61? A au  gX ZdYxaxa1? I {  a Milan (138)  hh88^B hX 61?' k  iX Z$Zxaxa1? ^k eFrankfurt (776) hh88^B jX@ 61?X  kX ZZxaxa1?h 5  kWashington DC (169) hh88 lX Zԏxaxa1?  a Munich (93)  hh88^B mX 61?  nX Zxaxa1? L   ` Padua (13)  hh88 oX ZTxaxa1?3 ` Tokyo (68)  hh88 pX Zxaxa1?  c Shanghai (35) hh88 qX ZԒxaxa1? :  dSingapore (53) hh88 rX Zxaxa1?0   b Bangkok (64)  hh88^B sX 61? ^B tX 61?6 ^B uX 61?_  ^B vX@ 61? X ^B wX@ 61? `  xX  `Txaxa1? x ; vSao Paulo (33).  hh88^B yX 61?  ^B zX 61?%  {X Zxaxa1?? J eLuxembourg (55) hh88^B |X 61?3  }X Nt1? , D(2   ~X Bԕ? ,D  E ( 2(2vB X ND?T X H ? LSan Francisco (64)  vB X ND?(q[ X ZTxaxa1?}?  fLos Angeles (15) hh88vB X ND?@ X Zxaxa1?   dSan Diego (11) hh88vB X ND? yd  X Nt ? 0  @ 2   X T4 ?0 G Palo Alto (7) 2 jB X BD?h H X 0޽h ? X  $(  r  S  `a0   r  S  ]  H  0޽h ? X1  8101IOT0 0(  Tx T c $ `a0   nl x  OT x ,$D 0 ET Nt ?x  {7Offices closed: Chicago Bahrain Jeddah Riyadh Bahrain 8 28 FT T ?X | ]'Sharjah Leipzig Ho Chi Minh City Hanoi( 2(-l E NTE,$D 0 T ND ?:f R1972 Amsterdam & 2  B T TD8c?=E T N ? M 1802 London& 2   T N ?n L 1962 Paris& 2   T N ?u  P1976 Dubai& 2  ~B T ND8c?Mw~B T ND8c??~B T ND8c?E @ d  8T4t  T ND ?d<  _1980 Madrid Hong Kong & 2    T N ?   U1981 Singapore& 2  ~B T ND8c?Eo~B T ND8c? M ) ~B #T ND8c? ~B %T ND8c?`Y`~B &T ND8c?Eo 'T N ?h O 1968 Brussels& 2    T N ?L W 1  J1987 & 2    T ND ?,  M 1991 Moscow& 2    T N ? d N 1992 Warsaw& 2    T Nd ?94  o-1993 Barcelona Milan Rome Budapest Shanghai&. 2 (  T N$ ?_bQ  n1996 Bangkok @ 202 2   T N ?] M 1995 Prague& 2   T N ?]  d"1997 D dorf Padua& 2   T Nd ?Z 3d Q1990 Frankfurt& 2   T N2 ?U   R1986 New York& 2   T N2 ? N ^(Coward Chance and Clifford-Turner merger)(2)~B T ND8c? E o~B T ND8c? E o~B T ND8c?Eo~B T ND8c?8E8o~B T ND8c? D  ~B T ND8c? E ~B  T ND8c?E~B !T ND8c?TETj~B "T ND8c?E! ~B $T ND8c?  D~B (T ND8c?Ku )T N3 ?  {2000 Luxem-bourg BeijingB 202 0P2  ~B *T ND8c?Ku +T Nd4 ?gV0  T1999 Washington& 2  ~B ,T ND8c? ~B -T ND8c?@  .T N$5 ?  1998 Sao Paolo N 202 022 2  ~B /T ND8c?$D$ ~B 0T ND8c?-   1T  `5 ?<E :1974 2 ~B 3T ND8c??~B 4T ND8c?x  5T  `5 ? AU  9Tokyo 2 xB :T HD8c?? ;T HD6 ?P <2003(2  T Z7 ?O;   = Palo Alto 2  xB ?T HD8c? q xB @T HD8c?   AT Z8 ?1 %  = San Diego 2   BT ND9 ?/ %  ? Los Angeles 2   CT N: ?x| [%Merger with Rogers & Wells and Punder&(2&xB DTB HD8c?w@  \  IT R xB GT HD8c? q  HT Zd: ?c \  :Munich 2 N  '  JT  ExB KT HD8c? q  LT Z: ?c '  :Berlin 2 H T 0޽h ? XT  TT\ T(  \~ \ s *$; ([    \ BiC DE$F.̙i+ 444iii @` E  \ nB<CDE F<<g@:+ `  \ B C DE8FBi+444iii999mmm      ===ppp   ===n!n!n!&&&***///535353f8f8f8===BBBHHH%O%O%OTTTTTT[[[bbbggg n n n9u9u9ue~e~e~:::ddd(((MMMrrr    ! ! !@ +@ +@ +a 6a 6a 6 @ @ @ L L L W W W a a a n n n z z z* * * E E E _ _ _ v v v                         + + + ; '; '; 'I 3I 3I 3W AW AW Ae Ne Ne Nq \q \q \| h| h| h v v v                               @`E $  \ nBCDE FA@}ZoT  \ ,BCDEdFni+)))777 E E EQQQ___mmmyyyuuuc c c RRR?#?#?#*1*1*1===IIzzz*n*n*n?`?`?`RTRTRTcHcHcHu;u;u;---!!!   tttfffXXXLLL>>48@` %   \ B CWDEDFNi+QQ       ) ) ) 7 7 7 E E E S S S _ _ _ m m m { { { | | | q q q e e e W W W I I I ; ; ; + + +        % % % 1 1 1 ? ? ? K K K W W @` E %,   \ nBC6DE F66@w     \ BCDE$F.Mi+hhh;;;   YYY...}}}vvvnnneeeZ^Z^Z^2U2U2U L L LBBB999000p&p&p&KKK(((   |||]]]===   xyxyxy_n_n_nGbGbGb0V0V0VIII===111###   ssseeeYYYMMM@@@666---$y$y$ymmm___QQQ E E E777)))>>LLLXXXfffttt   $$$---666@@@MMMYYYeeesss!!!---;;;HHHTTT```nnnzzz000GGG___xxx   ===]]]|||(((222===GGG(P(P(PKZKZKZpcpcpcnnnvvv   222ZZZ...YYY   ;;;hhh@` f   \ B CDE8FBi+hhh;;;   YYY...xxxoooZhZhZh2_2_2_ V V VLLLCCC:::p0p0p0K'K'K'(((   |||]]]===   xxx_x_x_xGlGlGl0`0`0`SSSGGG;;;---!!!ssseeeYYYMMM@@@666---$$$wwwiii[[[ O O OAAA333%%%      $$$---6v6v6v@h@h@hM\M\M\YNYNYNeAeAeAs3s3s3'''   000GGG___xxxzzznnnaaaWWW L L L=@=@=@]6]6]6|+|+|+!!!   (((KKKppp   222ZZZ...Y~Y~Y~uuunnnggg b b b;[;[;[hThThTOOOHHHBBB'='='=X8X8X8333///***&&&O!O!O!   L L L        O O O          ! ! ! V V @`fE  \ nBCDE Fg@= D \ BCDEFMfi+   nnW%W%W%=0=0=0"<"<"<HHHTT___kkkvvvwwYYY888 j j j E E     \ \ \ 2 2 2  % % % - - 4 4 4 = = =] D] D] D1 K1 K1 K R R Y Y Y ` ` `{ g{ g{ gL lL l s s s x x x ~ ~ ~   ^ ^ - - - fff555hhh555eee111aaa,,,ZZZ&&&UUU!!SSS  WW$$$``1~1~1~xx111``$$$WW  SSS!!UUU&&&ZZZ,,,aaa111eee555hhh555fff- - - ^ ^             L L { { {         1 1 1 ] ] ]  z z z r r r k k b b b2 Y2 Y2 Y\ R\ R\ R I I A A A 6 6 6 - - - % % %E E j j j            888YYYww"y"y"y=m=m=mWbWbWbnVnVJJJ>>@`,    \ BC DEDFNi+IIVVVnbnbnbWnWnWn=y=y=y"""wwwYYY888            j j j E &E &E & 0 0 0 9 9 9 B B B L L L U U U\ ^\ ^\ ^2 e2 e2 e n n n v v v } } }   ] ] ] 1 1 1          { { { L L L             ^ ^ ^ - - - fff555hhh555eee111      a a a , , ,          Z Z Z & & & UUU!!!SSS   WWW$$$```111I$(@`   \ nBCDE F<@ H "  \ 6;Id l*World-wide Revenues by Region - FY2001/02 &+ 2* \ 6;   F1bn& 2 \ 6D<*   FAsia& 2  \ 6< '  F7.3%& 2  \ 6d=<   TContinental Europe& 2  \ 6= 3 Z9 G25.0%& 2  \ 6$>.~ HLondon& 2  \ 6*  G42.5%& 2  \ 6~ JAmericas& 2  \ 6Ry G24.7%& 2  \ 6ԑ(@  M Middle-East& 2   \ 64 % F0.5%& 2 H \ 0޽h ? XOW  VV!#dV(  d~ d s * mP    d dBCDEFi+``mm,g,g,gY`Y`Y`YYYTTTMMMHHHABABABr<r<r<777222---3*3*3*f%f%f%!!!---```      ---```...bbbm@`C~}  d nBHCDE FjH@{ R, d B CDEPFZ̙i+TT777VVVsss777ZZZ~~~~~~tttkkkaaaXXX;P;P;PbHbHbH===777...&&&111]]] @`z}  d nBCDE Fj@p_<  d B CDEFi+444iii777lll   : : : mmm666i!i!i!%%%***----2-2-2^7^7^7<<<BBBHHHMMMITITITyYyYyY```gggmmm,t,t,tX{X{X{+++TTT}}}===aaa      . (. (. (N 3N 3N 3l >l >l > H H H T T T _ _ _ j j j u u u   0 0 0 H H H b b b x x x                         $ "$ "$ "2 .2 .2 .A ;A ;A ;M IM IM IZ VZ VZ Vd bd bd bo po po py }y }y }  @`C} >   d nB'CIDE F'I@<5  d BCDE$F.Mfi+   )))666DDDQQQ___lllzzz}}}nnn```OOO@@@---!!!///;;;FFFRRR^^^llllwlwlwSSS888888SSSlll~~~rrrgggYYYMMM-@-@-@@4@4@4O&O&O&```n n n }}}{{{nnn```SSSEEE88@` `Q3   d lB CDEFi+    ( ( ( 4 4 4 B B B O O O ] ] ] j j j x x x y y y o o o d d d Z &Z &Z &M 4M 4M 4A @A @A @2 M2 M2 M$ [$ [$ [ f f f t t t                  x x x b b b H H H 0 0 0            x @` } Q   d nBCDE F"@ 0Q t  d L BCmDEtF~Mfi+55,,,i"i"i"DDD   wwwYYY999vwvwvw]l]l]lE^E^E^-R-R-RFFF;;;///!!!sssfffXXXLLLAAA666...$z$z$zlll___QQQ D D D666))) 88EEESSS```nnn { { {$$$...666AAALLLXXXfffs s s &&&444@@@MMMYYYgggrrr~~~---EEE]]]vvv999Y Y Y www)))333=== H H HDPDPDPiZiZiZdddmm5<@@` {   d B CDEFi+iiiDDD   wtwtwtYjYjYj9`9`9`TTTJJJ>>>222&&&vvv]]]EEE---|||snsnsnfafafaXUXUXULGLGLGA:A:A:6,6,6,. . . $$$   ~~~pppccc U U UIII<<<...$!$!$!...666AAALLLXXXfffsssxxxlll```RRR-G-G-GE;E;E;]/]/]/v#v#v#    @`}  d nBCDE Fj@ 8< D d BCDEFi+  |||]"]"?,?,?,66BBBLLVVVaavkvkvkRsRs.}.}.}  nnEEEuuIII   j j : : :         ! ! !O (O ( , , , 1 1 6 6 6 9 9Z >Z >Z >' B' B E E E H H L L L^ O^ O+ Q+ Q+ Q T T V V V X X] Y] Y] Y( [( []]]^^^^^Z^Z^%`%`%``````^^U^U^U^!^!^]]][[YYYSXSX V V VTTQQQOOSLSLSL H HEEEBB>>>Y9Y9&6&6&611,,,((e!e!e!44   zzLLLooCCCttMMM''''MMMttC C C oo!!***11L7L7L7z<z<CCCJJOOO4T4TeYeYeY``ccchh&n&n&nYqYqvvvyy}}}  SSS   SS!!UUU%%%ZZ( ( ] ] ]        + + + ^ ^       } } }' y' yZ vZ vZ v q q n n n h h c c cO `O ` Y Y Y T T O O O J J: C: C: Cj <j < 7 7 7 1 1 * * *!!IIIuu   EEEnn  ...RRvvvzzznn?d?d?d]Z]Z|N|N|NDD88@` `   d BCDEFi+//|||]]]???vvvRRR."."." , , ,555???HHHnPnPnPEXEXEXaaaiiirrryyyuuuIII         j j j : : :             O O O             Z Z Z ' ' '          ^ ^ ^ + + +          ] ] ] ( ( ( ZZZ%%%UUU!!!SSS   SSS   YYY&&&eee444zzzLLLoooCyCyCyrrriiiaaaXXXtPtPtPMHMHMH'?'?'?55`d@` `H  d nBuCDE Fuu3@ 3 e  d 6 o-World-wide Fees by Practice Area - FY2001/02 &. 2- d 6Tm W F1bn& 2 d 6]C j QTax Pensions & & 2  d 6Ԕr  L Employment& 2   d 64^8 a F8.5%& 2  d 6MQ M Real Estate& 2   d 6T" F7.5%& 2  d 6 -  WLitigation & Dispute & 2  d 6ԗ YJu  L Resolution& 2   d 64}   G22.0%& 2  d 6~ t  K Corporate& 2   d 6T  m G27.7%& 2   d 6 xL  QCapital Markets& 2  !d 6tT   G11.7%& 2  "d 64D SBanking & Finance& 2  #d 6v G22.4%& 2 H d 0޽h ? X  p<(  p p c $ L^<$D 0   X p 0A?fH p 0޽h ? ̙33  lP(  lr l S  `a0    l S  ku<$ 0  H l 0޽h ? XU  TTYT(  x  c $t `a0     C xԳ_ж_ж ?; $^k ,$0 B(2  jB @ BD? O jB @ BD? P jB @ BD?> O> jB @ BD? O jB @ BD?G KG jB  @ BD? Ax jB  @ BD?{ Ax{ jB  @ BD?OjB  @ BD?" O"    Z4 ? P 7100 2   Z ?$   7200 2   Z ? .  7300 2   ZT ?   7400 2   Z ?w   7500 2   Z ?   7600 2   Zt ?`   7700 2   ZԶ ? b  7800 2   Z4 ?F   7900 2   Z ?K  81000 2 jB @ BD?kOkjB @ BD?OjB @ BD?iOijB @ BD?LjB @ BD?O  Z ?+ 81100 2   ZT ?: 81200 2   Z ?. 81300 2   Z ?\ 81400 2 *   # lԹ_ж_ж ? ,$0 ZNo. of fee earners(2  d ! c Ashow 1/1/1.tif 00037F4A Tam's Mac ABA78158:,$D 0 " # l4_ж_ж ?T T (,$D 0 B(2   # 0d'8,$0 g Specialists, 2    $ 0T_4,$0 WShapers  2  * % # l_ж_ж ? ,$D 0 Z ((2     &  f_ж_ж ? _ F ,$0 V $0F2$   ' 0Լ , lFull service integrators&    ( # l4_ж_ж ?kE L2002(2    * Nf&L ?ho  LPPP (000 s) 2  + 0LC } ,$0 Z Incumbents 2   j2 ,@ B? - H4M ?1 =WLR 2  . ZM ?K  =SA  2  /  fM_ж_ж ?  ,$0 I 0F2   0  fTN_ж_ж ? _   ,$0 U $0F2$  jB 1@ BD?RjB 2@ BD?GjB 3@ BD?GjB 4@ BD?H 5 ZN ?C 81500 2  6 ZO ?K 81600 2  7 ZtO ?F 81700 2  8 ZO ?M 81800 2 jB 9@ BD??xjB :@ BD?i?xi ; Z4P ? 81900 2  < ZP ?# 82000 2  = ZP ? & @ 2   dB > <D?dB ? <D?  @ TTQ ?h 7400 2  A TQ ?h  81800 2  B TR ?h 7600 2  C TtR ?hdj 7800 2  D TR ?h4h  81000 2  E T4S ?h, `  81200 2  F NS ?h  81400 2  G TS ?h  81600 2  H TTT ?hp  82000 2  I TT ?hDx 83400 2  J TU ?h< p 82200 2  K TtU ?hP 82400 2  L TU ?h( 82600 2  M T4V ?h 82800 2  N NV ?h 83000 2  O TV ?h\ 83200 2  P TTW ?h.b 83600 2 p2 Q H? SC  R Z ?`I  =CSM 2 p2 S H?0`n T Z ?<  =DPW 2  U Zt ?j|  =STB 2  V ZԬ ?  =S&C 2  W Z4 ?O <PW 2  X N ?" <MT 2  Y Z ? L : _  <JD 2  Z NT ?  o  ;E 2  [ Z ?]  =S&M 2  \ Z ?P  <AO 2  ] Zt ?P pZ  <FF 2  ^ Nԯ ?P   <CC 2 p2 _ H? # p2 ` H?SSp2 a H?fp2 b H?[p2 c H?vp2 d H?Mnp2 e H?+; p2 f H? F # p2 g H?  + p2 h H?  P p2 i H? P p2 j H? EP  k Z4 ? 6  =B&M 2 jB l BD?``@jB m BD?@jB n BD?  @jB o BD?@jB p BD?@jB q BD? @jB r BD? @jB s BD?p p @jB t BD?0 0 @jB u BD? @jB v BD? @jB w BD?@jB x BD?@jB y BD?PP@jB z BD?@jB { BD?@jB | BD?@jB } BD?@p2 ~ H?   Z ? j  <LL 2 j2  B?P 8 `   HT ?p FLondon-1/1335846/2 2H  0޽h ? Xp   (  x  c $Ա v H  0޽h ? X 0 ( P X  C t*H     S t Q}      H  0޽h ? ̙33H 0 `6(  `d ` c $t*K    ` s *tt ?      H ` 0޽h ? ̙33I 0  h6(  hd h c $t*K    h s *4t ?      H h 0޽h ? ̙33K 0 0t6(  td t c $t*K    t s *t ?      H t 0޽h ? ̙33O 0 @6(  d  c $t*H     s *t Q}      H  0޽h ? ̙33r05N /i^AhukCe0'm?o~P̈{6/܁pU#N0'ajƶl!n9b. Zgrp `rbOh+'0 px  0 < H T`hNo Slide TitleFirstName SurnameeCC:\Program Files\Microsoft Office\Templates\Blank Presentation.pot 1P279Microsoft PowerPointoso@v@畁@Bw@!8G oM  E& &&#TNPP0v & TNPP &&TNPP    LJ- "-- !-- "-&~--~-- - "Arial Blackma- . 2 C .--~--  . 2 L .--~--  . 2 I.--+~--  . 2 F .--D~0--  . 2 1F .--]~I--  . 2 IO .--u~b--  . 2 bR .--~{--  . 2 {D .----  . 2 C .----  . 2 H .----  . 2 A .--+--  . 2 N .--D0--  . 2 0C .--^K--  . 2 KE .&-- -- "ArialP- .2  Globalisation$   . .2  of Law  ".--H-- "ArialBl- .2 t`Peter Charlton   . .E2 Z)London Managing Partner Clifford Chance "        . .2 L13 January 2003  .--"Systemn-&TNPP &՜.+,0X    On-screen ShowsClifford Chance̺  "Times New RomanArialMonotype SortsNews Gothic MT Alleycat ICG Arial Black Arial NarrowBlank PresentationGlobalisation of LawSummaryMy perspectiveAbout law firms! (and lawyers)About law firms! (contd)About law firms! (contd)About law firms! (contd)Law firm marketLaw firm market (contd)Law firm market in LondonLaw firm market - GlobalHistorical OverviewHistorical Overview (contd)Historical Overview (contd)Historical Overview (contd)Historical Overview (contd)#The Development of Clifford Chance8Development of Clifford Chance Offices worldwide 2003Development of Strategy1Development of Clifford Chance Global Network The firm is now truly global * and well balanced across practice areasKBalance of practices is different across practice areas in certain regions What next?Law firm market - Global Questions  Fonts UsedDesign Template Slide Titles_ sb 1  !"#%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root EntrydO)PicturesGCurrent UserSummaryInformation(PowerPoint Document($DsDocumentSummaryInformation8Root EntrydO)ju!:@PicturesGCurrent User'SummaryInformation(_ smhoyler