Arecent Legal Week roundtable in New York saw an array of senior figures from leading national US firms describe just how hard it is to break into the competitive New York market. But if New York is the toughest market in the world for out-of-towners to crack, London is not a stroll in the park either.
In the past, US firms have often fallen into the trap of underestimating its strength, mistakenly believing they can make easy pickings in the City. Legal Week’s latest US law firms in London survey provides evidence that US firms are beginning to treat the market with the respect it deserves. Just two firms – Buchanan Ingersoll and Altheimer & Gray – have quit the market during the past 18 months at a time when it has been at its toughest for more than a decade.
