Ed. note: Welcome to our daily feature, Quote of the Day.
It’s not like there are really any new law firms being created. It’s only really going to go one way. The firms that exist are going to consolidate with each other. No one wants someone downstream, who is less profitable than them, so that greatly limits the number of true merger options you have there. And if the good ones are pairing up, you don’t want to be the ones [left].
— Jeff Lowe, senior managing partner and market president for Washington, D.C., at recruiting and consulting firm CenterPeak, in comments given to the American Lawyer, concerning law firms leaders’ heightened response to the industry’s recent merger mania, where there’s “definitely a sense that, if we don’t do anything, we’re going to get left out.”
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.