Shearman & Sterling’s hire of Linklaters senior corporate partner Peter King last month has certainly wrong-footed those who doubt the ability of US firms to compete for top-tier M&A work in London.

The big UK firms are aware that the move is part of an aggressive hiring spree by the US giant to grow its London corporate team to six partners by the end of 2004. Another high-profile hire is expected before the end of 2003.