Many of the firms in the Major City group will look back on 2010/11 with mixed feelings. Some firms will feel a sense of relief that, broadly speaking, any further disasters were averted but others will be frustrated that key transactional markets refused to pick up significantly. Strategically, however, there are still a couple of firms in the group that have to ask themselves some difficult questions over the coming year.
The peer group has changed somewhat since last time around, with Hogan Lovells and SNR Denton, as a result of transatlantic mergers, moving to the newly created Major International group.
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