Pandemic Slows Lateral Hiring as Firms Look for Guaranteed Winners
The COVID-19 crisis has cast a pall over the lateral market, but "unicorn" partners and groups in hot practices are still forcing firms into competition.
May 28, 2020 at 04:26 PM
5 minute read
The original version of this story was published on The American Lawyer
Lateral partner moves between law firms have hit the skids, as most pre-COVID-19 deals have now run their course and both firms and partners are grappling with economic uncertainty and logistical barriers.
Still, opportunistic firms are looking to lure top prospects, and some partners are receptive.
Bringing on a lateral partner is a time-consuming and expensive prospect on its own, but because the pandemic has left a portion of the legal industry scrambling for cash, law firms are currently looking for proven winners—individual lawyers or groups that have high profiles or are known rainmakers, according to several legal recruiters.
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