Who are OUR FIRM’s main competitors and how does OUR FIRM differentiate itself from the firms you name?
Within Insurance Litigation, YOUR FIRM is ranked in Band 1 alongside ANOTHER FIRM and ANOTHER FIRM. Unlike these Magic Circle firms however, YOUR FIRM does not primarily rely on brand recognition to win and grow business. Instead, YOUR FIRM emphasises genuine and long-term relationships, and was ranked 1st out of 411 law firms by The BTI Client Relationship Scorecard for building and maintaining client relationships.
YOUR FIRM is also known for its powerhouse reputation in commodities and shipping, and competes with firms such as FIRM A, FIRM B, and FIRM C in these areas. I participated in a vacation scheme with the latter, and believe YOUR FIRM has a far more ambitious strategy and geographic reach. In London, YOUR FIRM’s 2013 revenue increased by 5%, while new offices in CITY and CITY signal continued growth.
International arbitration and dispute resolution is another prominent FIRM strength, with FIRM D and FIRM E as main competitors. As the management philosophy of a firm impacts talent development within the organisation, I believe the Swiss Verein structure of FIRM D and FIRM E is important to note. The Swiss Verein is an association of legal entities that have typically come together for marketing purposes, but remain financially separated with localised, independent control. This is in contrast to the transparent, one-firm approach and single profit pool at YOUR FIRM, which provides financial incentives through teamwork and fosters an integrated culture of collaboration regardless of jurisdiction.