Ed. note: Welcome to our daily feature, Quote of the Day.
We talk about cautious optimism going into the fourth quarter—that may be causing some more of the caution we’re seeing in the marketplace. We could have a great year. But it may just be a pretty good year.
— Owen Burman, senior consultant for Wells Fargo’s Legal Specialty Group, in comments given to the American Lawyer, concerning the group’s latest report, which noted that “elite” firms in the Am Law top 50 may be setting the curve for the Am Law 200’s “robust” profitability. While the Am Law 50 saw demand growth of 3%, the best of the best firms within that group saw demand growth of 5%. Les Starck, another senior consultant for Wells Fargo, said the elite firms “really are carrying much of the demand growth.”
Staci Zaretsky is the managing editor of 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 Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
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