The Lawyer magazine is reporting that, "With corporate funds evacuating the market as the recession took hold, international private investors filled the gap. The result was that mid-tier firms such as Berwin Leighton Paisner, Macfarlanes and Taylor Wessing, to name but three, were able to shore up their conventional corporate practices during the downturn.
And the opportunities are ample: Credit Suisse Research Institute, in its Global Wealth Report published in October 2010, calculated that at the top of the wealth pyramid there are more than 1,000 billionaires globally, of whom 245 are in the Asia-Pacific region, 230 are in Europe and 500 are in North America. Further down, there are 80,000 ultra-high-net-worth individuals, which Credit Suisse defines as average wealth per adult of more than $50m (£30.8m)."
For the full story see http://www.thelawyer.com/family-value-how-private-client-filled-the-corp-gap/1008008.article