Two out of three senior UK partners dismiss US firms as a minor competitive threat, according to research that suggests City firms are unimpressed with their US invaders.

The latest Legal Week/ EJ Legal Big Question survey found that 57% of respondents believe that the London arms of US firms pose only ‘a minor threat’ to the leading UK firms, against just over a third (35%) who view them as ‘a major threat’. Eight percent think they pose no threat at all.