Opportunities have certainly opened up for Ontario’s full-service regional firms in recent years. Since Canadian Lawyer last ranked them along with their Quebec peers in 2006, two of the top three have moved on or out. The top firm, McMillan Binch Mendelsohn LLP, has rebranded itself as McMillan LLP and combined forces with Lang Michener LLP to join the national crowd. And who could forget the March 2007 dissolution of the once-formidable Goodman and Carr LLP, which placed third in the 2006 rankings? “I think that’s to our benefit,” Torkin Manes LLP managing partner Jeffrey Cohen says of these departures from the mid-market. He says the hollowing out has made it easier to identify the clients his firm is chasing, and better tailor its services and marketing efforts to them. “We’ve stayed the course. We know who we are; we understand where our limitations are, and we don’t worry about what we can’t do. We focus on what we can do.”

Economic growth and development have led to an optimistic outlook among Atlantic Canada’s top 10 full-service law firms. Increased investment and development in the region mean more opportunities for all firms on this year’s list — large and small, say managing partners. The firms made this year’s list through Canadian Lawyer’s annual survey based on the votes of lawyers across Canada. To qualify, these firms needed to offer a wide range of legal services and have offices only in Atlantic Canada — New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.

Canadian Lawyer’s latest top firm survey takes us to Quebec, where regional, full-service firms have established a confident foothold.

One of those firms is BCF LLP, and its managing partner, Mario Charpentier, says any regional firm in Quebec hoping to survive must keep a close eye on its clients’ interests. He believes strong rapport with entrepreneurs and CEOs of mid-market companies is the key to his firm’s survival in the face of heavy competition from large firms. “We can attract those clients, and we win our battles on this ground,” he says.

 

It wasn’t long ago that a wave of mergers formed a cluster of large, national law firms and prompted legal industry pundits to declare the death of the regional firm. There is no way they can stand up to the boundless resources of big law, the experts cried. Fast-forward a decade or so, and it’s safe to declare that doomsday scenario, shall we say, a tad premature. “As Mark Twain said, rumours of our demise are greatly exaggerated,” says Edmonton-based Field LLP managing partner James Casey.

 

The Atlantic Canada market continues to consolidate, as firms fight to keep deals down home and ride an economic boom thanks to high commodity prices, expanding oil and gas revenues, and unique legislation that allows unlimited liability companies.

In our second annual peer-ranked survey celebrating the leading mid-sized firms from Manitoba to B.C., we examine the challenges and opportunities unique to the region.

While national law firms duke it out for the shrinking pie of corporate work in Canada’s rapidly consolidating capital markets, central Canada’s regional firms say their strategy to remain independent and target mid-market deals and entrepreneurial clients will leave them standing at the end of the day — something, they say, that many so-called national law firms won’t be able to accomplish. Here's our latest ranking of central Canadian firms.