Even the world's biggest law firm says it needs to 'grow or die'
Doug Stipanicev, Australasian chief executive at Dentons, the world's largest law firm by headcount, says in 2024 firms have to keep growing to account for rising overheads.
In some industries, 10% annual revenue growth can win you an award. In the legal sector, it can mean standing still — or moving backwards if growth is less than that.
So says Doug Stipanicev, the Australasian CEO of Dentons, the world's largest firm by headcount.
"It's almost grow or die these days. The average firm will run cost increases of 10% a year [and] you call that a baseline before you can say you really grow," Stipanicev told Capital Brief in a recent interview.
And while he says artificial intelligence presents opportunities for the legal industry, Stipanicev also sees numerous related concerns.
