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From Morgan, Lewis & Bockius absorbing Shearman & Sterling's entire Munich office to Paul, Weiss, Rifkind, Wharton & Garrison's raid on Kirkland & Ellis transactional partners, large group lateral acquisitions dominated headlines in the lawyer press this year. But despite the eye-catching headlines that group lateral moves produce, partner recruiters working alongside Am Law 100 firms say that for every group move, there are 20 that fall apart; economic conditions and specific circumstances have to be right to spark a group's exodus. As corporate transactions have fueled firms' double-digit profit rises in recent years, it's no wonder why those practices have produced highly sought after "star rainmakers."
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December 29, 2023, 4:00 AM