Individuals involved in the lateral hiring market in London may have noticed something different about how U.S. firms are hiring these days. For years, U.S. firms gained intel quietly from local expertise, but the recent activity in U.S. hiring is causing U.K. firms to be on edge.
While lateral moves are still quietly occurring between these countries, the number of moves has decreased. U.K. firms have even been losing star lawyers to U.S. firms with locations in London.
Among the changes in the lateral market, firms are retrieving lawyers from areas that have not previously been considered. Areas that still dominate the headlines of lateral moves include corporate and finance, and areas that are starting to gain attention are regulation and intellectual property. Big Law firms that have been recently involved in these types of lateral moves include Kirkland & Ellis and Latham & Watkins.
U.S. firms have also pointed out that there has been a notable increase in their teams for areas such as employment, pensions and tax in London. This increase in team size has grown from either organic growth or lateral hiring.
Are you interested in learning more about how the lateral hiring market relationship between U.S. and U.K. firms has changed and how this shift in their relationship may affect the future of U.K. firms? Read more in this Legal Week article.