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Ed. notice: Welcome to our every day characteristic, Quote of the Day.
The trade noticed a constructive finish in 2023. The positives are that the trade exhibits a return to revenue development, and moderation in these demand declines we’ve been reporting all year long.
We’re optimistic that ‘24 might be a greater yr than ‘23. I say that due to the continued efficiency of follow areas that drove demand final yr along with the anticipated rebound in transactional practices.
— Gretta Rusanow, managing director and head of regulation agency advisory companies at Citi’s World Wealth at Work Regulation Agency Group, in feedback famous by the American Lawyer on regulation corporations’ monetary efficiency in 2023, and waiting for their efficiency in 2024. Based on Citi, final yr, regulation corporations elevated common revenues by 6.1% in 2023, whereas income per fairness accomplice grew by 6.6%.
Staci Zaretsky is a senior editor at Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to email her with any ideas, questions, feedback, or critiques. You possibly can comply with her on Twitter and Threads or join together with her on LinkedIn.
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