US firms struggle to hire in City marketplace

31/01/2008

London-based US law firms showed signs of slowing lateral partner hires last year, with top firms in the City reporting a drop in lateral appointments and partner recruitment, a new industry survey has revealed.

According to Legal Week, nearly a quarter of those recruited in 2007 were non-partners at their previous firms with a significant proportion moving from US firms rather than UK practices.

Abrahams Russell director Greg Abrahams told Legal Week: "The bulk of the magic circle firms remain beyond US firms' reach. The majority of partners who move have a reason, such as falling out, being sidelined or retirement."

Weil Gotshal City head Mike Francies explained that as UK firms record growing profits, there is less incentive for lawyers to move firms, particularly when the dollar is going down.

Legal Week state that the survey's findings reflect the growing difficulty for US firms to recruit top names in the UK.

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