More than a decade since they first came to the UK in earnest US firms have the opportunity to make a major breakthrough in the City. Alex Aldridge asks if they have the will and wisdom to seize their moment
June 2009, and it was just another not-so-hectic day in the finance department of Addleshaw Goddard’s London office – which, after some busy years in the middle of the decade, had slowed dramatically following the onset of the credit crunch in 2007. The firm had recently posted its annual financial results, announcing a fall in revenue of 11.4% and a 30.9% decline in profits per equity partner (PEP), having earlier that year cut 10% of its partnership. Needless to say, acquisition finance partner Phil Slater was on hand to answer his phone when it rang that morning.
