If annual partner promotion rounds reflect law firms’ confidence in the business environment, it will be of little surprise that the number of promotions made by the UK’s top 20 firms is up significantly on last year, especially in London, where business confidence has rebounded dramatically. But, as shown by our analysis this week, Asia remains a hotspot for many of London’s largest law firms. Despite the costs, the intense competition for work and a slowdown in China’s growth, most firms are continuing to plump for the long-term gains expected from the region.
The US has also seen partner numbers increase. And although transatlantic firms including DLA Piper, Hogan Lovells and Norton Rose Fulbright predictably account for most of the expansion, firms with a much more limited presence in the region, such as Linklaters, are also investing there.
