Press Reviews

2010 - the private realm will start seeing positive developments

Nine O’Clock, February 23, 2010
Interview with FLORIAN NITU, Managing Partner of Popovici Nitu & Asociatii.

Q: How do you see the trend of law firms in 2009? And how did Popovici Nitu & Asociatii fare in terms of development and turnover?

Business law firms - there is a reason behind this name - reflect the state of the economy and consequently the law firms fared as the economy. As we could see, the economy fared unevenly. In a word, there was a hard, dense, consistent year. As early as in 2008, I characterized the current state of mind in just a phrase, which - I believe - reflects today’s things well: We will work more, for less. It became obvious to us and on such basis we have decided to add more resources and projects. Actually, we have extended our team by a significant number, almost 10 people. Additionally, we continued to invest in training, we have profiled the Knowledge Management Group and have focused to economic zones where we thought there is organic growth potential. We were pleased to see that, during last year, we were able to achieve growth in these adverse market conditions but, as I said , this came at additional cost, with many resources and, generally speaking, with extended permanent effort.

I believe things will start moving in 2010, a series of industries will necessarily get on the move, with transactions, restructurings, mergers. For years we were speaking about “mergers and acquisitions”, but we were in fact dealing more with “acquisitions”. It turned now that when we quote “mergers and acquisitions”, we are in fact dealing more with “mergers”.

Coming to turnover, Popovici Nitu & Asociatii made a little above EUR 7 M. For 2010 we expect a sustainable increase, somewhere between 5-10 percent. More >>