Bristol law firms Burges Salmon and Osborne Clarke have maintained their places as the regional legal sector’s two heavyweights, despite tough market conditions.
The duopoly have for many years commanded the top two positions and, although rooted firmly in Bristol, have grown into serious national – and in Osborne Clarke’s case, international – players capable of competing against major City firms.But third-placed TLT, also based in Bristol, is making up ground on these two and last year put in a strong performance to challenge them.
The city’s law firms, on the whole, have continued to punch above their weight, according to the latest Legal 500, the legal market’s annual ‘bible’ which is published today.
The Legal 500 identifies the firms and individuals who are setting the pace in the region and, as such, has become an indispensable resource for anyone buying legal services.
Bristol firm’s traditionally dominate the regional market and the South West section of the latest Legal 500 places Ashfords, Beachcroft, Bevan Brittan, Bond Pearce and Clarke Willmott in the third tier of regional heavyweights behind Burges Salmon, Osborne Clarke and TLT.
While these third-tier firms are regional or national players, each has grown effective Bristol-based practices – in the case of Clarke Willmott, using the city as a springboard to move into other regions.
Of the six fourth-tier firms, Veale Wasbrough Vizards is the only Bristol-based operator, although Swindon and Bath firm Thrings has had an office in Bristol for several years and Foot Anstey is shortly to open one.
The Legal 500 says 2010 was a less turbulent year for South West law firms compared to 2009 with positive signs for 2011.
“Certainly, the region continues to benefit from the willingness of clients to move work out of the City as value for money remains a key driver in choosing legal services,” it adds.
It identifies education as a strong growth area for many firms with conversions to academy status a substantial source of work.
Debt recovery work has also been on the increase, as the consequences of the economic downturn continue to make themselves felt.
“Renewable energy projects are an important area of work for agriculture and estates teams, as landowners realise the potential of turning land over for development; pensions remains a live area against a background of public sector cuts; and professional negligence claims are on the rise,” says the Legal 500.”
While the region is less reliant on the public sector than some other areas of the UK, large-scale spending cuts hit many specialist practices across the region “as clients increasingly scrutinise the cost/performance ratio, and fund increasingly skilled in-house departments” the report says.
Burges Salmon cemented its ongoing success with its move to a high-profile new office complex at Temple Quay in 2010. According to Legal 500, the firm “has a wide-ranging corporate practice and an outstanding reputation in the energy and nuclear fields. Notable clients include the Nuclear Decommissioning Authority, Eurostar, and the Discovery Channel”.
Osborne Clarke acts for a host of high-profile clients including Dell, Carphone Warehouse, Cable & Wireless UK, and Mulberry. Areas of strength include TMT – it has excellent IP/IT and media capabilities – and energy, where clients include British Gas.
TLT’s strong performance came at a time when other firms have been struggling. “It maintains an excellent practice in areas such as IP/IT, pensions, employment, licensing, and debt recovery,” says Legal 500.
Ashfords is described as a growing force in Bristol; Beachcroft’s expertise in personal injury and other areas “ensures that it remains a force to be reckoned with in the region”; and Bond Pearce “has leading expertise in areas such as licensing and planning”.
Legal 500 notes that Clarke Willmott had an “uncertain and troubled year”, but is “notable for its strength in agriculture and estates, family and other private client matters”.
