“The holidays are a happy time, right?
Typically, yes. But not for law-firm managers this year.
Today, we were sent the latest Citi Private Bank Law Firm Group “managing partner confidence index.” The reports, issued quarterly, give a quick-and-dirty snapshot into how managing partners at the nation’s largest law firms are feeling about things.
According to the index released Thursday, confidence is limp. Managing partners don’t seem to feel very good about either the economy at large or the business conditions facing law firms.
And that sour news follows five straight quarters of surging confidence, according to Citi.
“Law firm managing partners are exhibiting a sense of uncertainty about the strength of the recovery, and in turn, the legal market and their own firms’ financial outlook,” Citi report . . . ” Full story on WSJ.