M&A does not tend to do well in a downturn, and this one was no exception. While there were strategic deals sprouting in many jurisdictions (such as Australia, below) as values became depressed and leveraged players were forced out of the market, they didn't keep everyone afloat.
As with the Capital Markets Review last month, this accumulation of law firm rankings is about those that weathered the storm well.
In these hard times the best law firms retain their top spot, often because of a flight to quality, and they retrench rather than restructure.
Over the next few pages we display a selection of the rankings from this year's IFLR1000, the worlds leading directory of financial law firms.
The IFLR1000 has journalists based in Hong Kong, London and New York, and specificallly hires people with journalism backgrounds rather than research, to aid incisive questioning and reporting.
Law firms cannot...