'Regional powerhouse', 'head and shoulders above the rest', 'a huge player' are just some of the accolades given to the leading regional firms in this year's Chambers and Partners. It is more than just rhetoric. Behind the headlines are convincing statistics and a clear upward trend in the growth of regional firms which promises a bright future for the regions. As more regional firms take clients away from the 'Magic Circle' and reach out to national and international clients, the monopoly once boasted by the City firms becomes weaker. Regional heavyweights like Wragge & Co in Birmingham, Walker Morris in Leeds and Dickinson Dees in Newcastle are proving that expansion from a single office base is no barrier to success, growth and continued profitability. Other national firms, such as DLA, are strengthening their regional and international bases. The statistics hold the key to understanding why clients are increasingly drawn to the regions. Standards of service match, if not exceed those offered by City firms and fees are markedly lower. While London firms outside the Magic Circle charge between £175 and £325 per hour for assistant solicitors, the equivalent charges in Leeds or Manchester are between £120 and £240. Regional firms accept that certain transactions will remain the preserve of the City but more and more work in areas such as commercial property, intellectual property and commercial litigation is being won by the regions over their City counterparts. There is little difference between some regional and City firms in terms of their size and structure. For example, Wragge & Co's 538 fee-earners compare well with Slaughter & May's 610. But there are differences, perhaps most evidently in specialisation, working culture and salaries. Regional firms pride themselves on being able to offer a seamless service to their clients and have consequently resisted the City trend of over-specialisation. Fee-earners are encouraged to remain generalists within specialist fields and regional trainees develop a broad range of skills through varied training. The more relaxed atmosphere in regional offices and the emphasis placed on individuality has undoubtedly contributed to the steady migration of lawyers in a northerly direction. For many it remains a lifestyle choice; it may be an indisputable fact that London salaries are higher but the sacrifice comes in the ever increasing target hours, extortionate house prices and cost of living, plus unpleasant commuting. Kate Falcon: Trainee Solicitor at Walker Morris |