2014 is the first year since 2007 that western jurisdictions were not comprehensively outclassed by emerging markets. But Legal Business finds the siren call of eastern economies is still too hard to resist for most Global 100 firms.
‘Nothing appears to have changed in the way firms move in and out of markets,’ reflects Norton Rose Fulbright chief executive Peter Martyr. ‘When it’s good, the Wall Street firms come in sharp and fast with a big chequebook and withdraw quickly when it’s bad. The global firms, on the other hand, take the pain over a much longer period.’