Welcome to the latest round-up of lateral partner moves in the legal market from Edwards Gibson, where we look back at announced partner-level recruitment activity in London over the past two months and give you a ‘who’s moved where’ update.
There are a total of 76 lateral partner moves hires in this edition – an 19% increase on last year and 10% up on the statistical average (69) for the same period over the past 5 years. The single largest team move was a raid by Fieldfisher on RPC of a three-partner construction/ construction disputes team. In addition, four firms: Akin Gump (in funds), Gateley (in private client) Mayer Brown (in restructuring/insolvency) and Mills & Reeve (in insurance) hired two partner teams.
As a sector, energy-focused laterals appeared to be the most in demand, constituting 11% of all hires. Also, in particularly high demand were private equity funds partners (8% of all laterals) as well as a similar proportion - the highest we have ever recorded - of restructuring / insolvency partners; Allen & Overy, Goodwin Procter, Macfarlanes, Mayer Brown and Reed Smith all recruited restructuring partners this round-up. It is too soon to say if this elevation, long prophesised by hopeful restructuring lawyers, is a statistical spike (arising from firms hedging against a bumpier post-Brexit economy and rising global interest rates) or a gloomier portent of things to come.
Top partner recruiters in London March - April 2019
Also of note in this edition
- 3 firms - Allen & Overy, Clifford Chance and Hogan Lovells - hired partners from in-house;
- 22% of all laterals were non-partners moving into partnership;
- 25% of the total moves we recorded were female partners.
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