There’s definitely been a slowdown in transaction rates. We’ve seen some deals pulled. The stock market and the exchange rate have stabilized a bit — although there probably will be more volatility over the year. Our business is well hedged as it reflects the global economy and the resilience we have built into the business over the years should stand us in good stead.
— a spokesperson from Allen & Overy, explaining that the firm’s profits were slightly lower in 2015 due to the “Brexit effect” — the trepidation in the markets caused by the UK’s then-impending decision to leave the European Union. A&O’s profits dropped 1.4 percent to 562 million pounds ($734 million) compared to profits of 570 million pounds a year earlier. A&O is the first of the Magic Circle firms to announce its annual financial results.
Pursuing The Pro Bono Story: A Conversation With Alicia Aiken
This Pro Bono Week, get inspired to give back with PLI’s Pursuing Justice: The Pro Bono Files, a one-of-a-kind podcast hosted by Alicia Aiken.
Staci Zaretsky is an editor at Above the Law. Feel free to email her with any tips, questions, or comments. Follow her on Twitter or connect with her on LinkedIn.