“They take our work and our partners and now they want our associates” – is how one senior partner at a leading City firm recently described the continued efforts by US law firms to make their mark in the London legal market.
And of course he is absolutely right. What else would they be doing here? But our latest research may offer a glimmer of hope to those at UK firms sharing similar thoughts: partner-to-partner hiring by US firms in London actually fell last year. Significantly. Our research into the recruitment practices at 44 of the largest international firms in the City found they made just 77 lateral partner hires last year, compared with 127 across the same firms in 2012.
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