March/April 2014 round up of lateral partner moves in London
Welcome to the latest round up of lateral partner moves in the London legal market from Edwards Gibson where we look back at partner-level recruitment activity in London over the past two months and give you a ‘who’s moved where’ update.
In our last update we reported that the market was returning to familiar ground with private equity partners making up one in eight lateral hires announced over January/February. Whilst hires into corporate teams remain a strong feature, the stand out area for legal lateral hires this roundup appears to be in finance which makes up more than a quarter of all moves, with real estate finance making up half of those. This appears to be a continuation of the rejuvenated real estate market we have been observing since the latter quarter of last year. The follow on demand in recruitment for real estate lawyers, and those ancillary to the discipline, remains high.
Attention must also be drawn to two of the ‘Big Four’ professional services firms ramping up their investment in the legal sector. PricewaterhouseCoopers’ (PwC) legal arm, PwC Legal, gained an ABS licence on 31 January and has bolstered its TMT practice with Field Fisher Waterhouse’s technology and outsourcing specialist, Stewart Room. Meanwhile Addleshaw Goddard’s corporate head Phillip Goodstone has been appointed to establish Ernst & Young’s legal capability in the UK and is joined by former BLP head of finance, Matthew Kellett. It is too soon to say where and how these challengers will fit in to an already crowded marketplace but these hires appear to make clear their intentions across the board to take market share from traditional law firms.
Please do not hesitate to contact us if you would like to discuss this article or any other aspect of the market in more depth.
The Edwards Gibson Team
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