It doesn’t just seem to be London’s house prices heating up to bubble proportions right now. If the numbers being bandied about the market are to be believed, Kirkland’s hire of Weil banking partner Stephen Lucas is the latest example of US firms wielding ever-more hefty chequebooks to secure the right names.
The trend, of course, is nothing new – as magic circle firms have long been able to testify. US rivals have been more than willing to pay over the UK odds ever since they began attempting to crack the City in earnest in the mid-1990s. The difference now is that as firms from across the Atlantic increasingly serve as both hunter and hunted, the packages on offer are climbing ever further from what is on offer within the magic circle. Lucas’ trajectory epitomises this trend. Having first moved from Clifford Chance to Linklaters before joining Weil, the 45-year-old has now made his third major career move, this time from one US firm to another.
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