If you had to pick the world’s legal capital, New York would get most commercial lawyers’ vote – that much has remained unchanged for the past 50 years. What has substantially shifted, from the point of view of European firms, is the attitudes and strategies of many of Wall Street’s largest law firms.
In short, at a time when firms as US-centric as Simpson Thacher & Bartlett and Sullivan & Cromwell are edging further into European and Asian law, the number of quality independent New York firms ready to be targeted by European practices has diminished greatly.
