Editor's comment: Guts, patience, maturity
Everyone has agreed for years that large US law firms should have taken the City by storm. They have the profitability and scale to outmuscle all but a handful of UK practices, strong banking connections and are driven by an impenetrable and huge domestic market. What could possibly go wrong? Quite a lot, as it turned out. US firms have been too unwilling to invest or trust their local lawyers and often greatly overestimated the global power of their brands. Arguably, an even bigger problem has been their sheer naivety about the City legal market, which has led to a series of breathtakingly daft senior recruitment decisions.
What US firms need to cut it in the Square Mile
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