Tensions are mounting at London law firms as banks press their outside legal counsel to provide more secondees. A number of partners at top ten London firms claim that banks are putting them under too much pressure to provide in-house legal teams with lawyers.
Firms are arguing that the absence of junior lawyers from the office is losing them work. Equally, with larger numbers of secondees from different firms being used effectively as extensions of banks’ own legal teams owing to in-house layoffs and recruitment freezes, the benefits to ongoing relationships are less evident than they once were.
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