Two documents outlining the strategies of international firms in Germany came to light between 2016 and 2017. ‘Agenda 2020’ by Latham & Watkins set the goal of becoming the top outfit in the country by its titular date. ‘Germany 2020’ by Freshfields Bruckhaus Deringer, meanwhile, anticipated a reduction of the local partnership of more than 15% over the same time frame.
At first sight, the contrast appears to sum up the growing divide between advancing and retrenching forces in a legal market long torn between a confident wider economic outlook and disappointing returns on investment for global advisers.
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