London hires by US firms' City arms up by 50% year-on-year

Lateral partner hiring by US firms in London picked up last year after the financial downturn, with firms bringing in more partners in 2010 than in any year since the start of 2006.

Legal Week's annual survey of hiring trends at the City operations of some of the largest US and transatlantic firms found there were 84 partner hires during 2010 across the 35 firms which took part in the survey.

The tally represents a rebound in recruitment activity across the group after new hires fell in 2009 to just 56 as a result of the recession – down 21% on the previous year's figure of 71.

More than three-quarters of the firms taking part in the 2010 survey (77%) brought in at least one partner during the year, with nine firms bringing in three or more new partners.

Greenberg Traurig Maher (GTM) and Reed Smith emerged as the most active US law firms in London in terms of lateral partner hiring over the 2010 calendar year, with each bringing in 12 partners. GTM has now been the most active partner recruiter for the second year running – having brought in 15 partners in 2009 when it launched in London.

London chairman Paul Maher (pictured) commented: "We have built a full-service office from scratch by hiring 60-odd people in just over 18 months, all by lateral acquisition. US firms are making a record number of hires because many of them are new entrants into the market and have a large demand for laterals."

Latham & Watkins brought in the next largest number of partners, hiring seven – including a high-profile six-partner finance team from White & Case led by Chris Kandel. K&L Gates and Ropes & Gray each brought in six partners.

K&L Gates firmwide managing partner Peter Kalis said: "The City represents one of the most intense concentrations of superb lawyers in the world. When a top-notch partner feels challenged by his or her current firm's limited platform – and is otherwise a good cultural fit – we try to move quickly into a recruitment mode."

Ropes London managing partner Maurice Allen commented: "US firms have finally found their place in the London market. The growing significance of the US buyout houses and funds realising that the weight of numbers and great branding doesn't trump hiring the best lawyers has played in our favour.

"There is no doubt that many US firms will be re-evaluating their strategies after a period of relative inertia."

Despite firms making 84 new hires last year, total partner numbers across the group increased only marginally, standing at 1,000 on 1 January 2011 compared with 976 on the same date in 2010.

Several US firms saw their London partnerships shrink significantly. Dewey & LeBoeuf's partner count reduced by 12 over the period due to retirements and moves to other law firms. Meanwhile, McDermott Will & Emery and Orrick Herrington & Sutcliffe saw their City partnerships reduce by seven and six partners respectively.

Total lawyer numbers excluding partners across the firms rose from 2,373 to 2,450, with those including White & Case, Mayer Brown and Latham significantly boosting their junior ranks.