City lateral hiring by international firms grew 41% in 2010, research shows
Lateral partner hiring by international firms in London rebounded by almost 50% last year, according to new Legal Week research. Legal Week's annual international firms in London survey, which includes submissions from most major foreign practices operating in the Square Mile, found that 93 lateral partner hires were made across the 62 firms surveyed, up 41% from just 66 the previous year.
June 15, 2011 at 07:03 PM
2 minute read
Lateral partner hiring by international firms in London rebounded by almost 50% last year, according to new Legal Week research.
Legal Week's annual international firms in London survey, which includes submissions from most major foreign practices operating in the Square Mile, found that 93 lateral partner hires were made across the 62 firms surveyed, up 41% from just 66 the previous year.
The total number of laterals is the same as the group made two years ago in 2008.
Tim Frazer (pictured), managing partner of Arnold & Porter's London office – which last year recruited a four-lawyer intellectual property team from Milbank Tweed Hadley & McCloy – said: "It has been a busy year with quite a lot of opportunities for lateral hiring. London is still a very attractive international centre for obvious reasons and firms are looking to build up in the right areas."
Firms to have significantly boosted their London presence during 2010 include Latham & Watkins, which made seven lateral partner hires and saw London lawyer headcount rise by 37 to 162, while fellow US firm Edwards Angell Palmer & Dodge grew lawyer count in its City arm by 19 to 60, including four lateral partner hires.
The survey also canvassed firms on whether they would actively consider a merger with a UK firm, with two – K&L Gates and Bryan Cave – saying they would, while a further four – Salans, White & Case, Edwards Angell and Hunton & Williams – said that they would 'possibly' consider a London tie-up in the right circumstances.
Notably, Mayer Brown said it would not consider a UK merger after listing it as a possibility last year. The firm's response comes after talks over a tie-up with Simmons & Simmons were called off in June last year.
The survey also found around two-thirds of firms surveyed plan to grow their London offices this year, with three – Ropes & Gray, King & Spalding and Canada's Gowling Lafleur Henderson – all stating plans to boost City headcount by around 50%.
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