Europe’s independent law firms fared much better in 2018 than most of the EU economies in which their clients operate. Set against the background of a US-China trade war, sluggish output and the prospect of an imminent Brexit, GDP growth in the eurozone limped to a disappointing 1.1% last year. Overall deal volume and value also pointed downwards, particularly in the second half of the year according to Mergermarket, but thanks to increased regulation and compliance, investigations and dispute resolution, there was plenty for lawyers to do.
This has led to multiple firms in our fourth annual Euro Elite report – which identifies 100 leading firms in around 40 European jurisdictions using a methodology that blends size, reach and quality across key product lines – reporting annual revenue growth of between 5% and 10%. In meeting the sustained challenge of international players, Euro Elite firms are more than holding their own.