UK firms look to emerging markets for growth
Large UK firms seem to have heeded the warning set by Dewey & LeBouef, which showed the dangers of rapid expansion. Instead, these firms are pursuing a more modest expansion strategy that focusses on the oppportunities in emerging markets.
Allen & Overy, for example, derives 22 per cent of its revenue from emerging markets, up from 15% a few years ago. The firm launched an office in Vietnam a month ago, following a Jakarta launch 17 months prior.
Clifford Chance saw revenues from Asia increase by 28 per cent in the past year, thanks in part to an expansion into Australia.
Read more at www.economist.com.comments powered by Disqus