Financial Times Article Features Exclusive Edwards Gibson Data: “London lawyer hiring frenzy hits record as pay wars rage”.

We are thrilled that Edwards Gibson’s data on partner moves has been exclusively featured in the Financial Times, in this week’s article by Suzi Ring, “London lawyer hiring frenzy hits record as pay wars rage”.

The article highlights how a record-breaking 546 partner hires in London’s legal market over the year to December 23 have been fuelled by unprecedented investment from US law firms. This surge has continued to disrupt the landscape, pushing pay structures to new heights and triggering intense competition for top legal talent.

As the FT reports, data shared by Edwards Gibson demonstrates the ongoing shift in the London legal market, particularly among the UK’s "magic circle" firms, which lost a record 28 partners this year. Notably, deep-pocketed US firms have increasingly lured partners not just from their UK rivals but also from their US peers.

Scott Gibson, director of Edwards Gibson, is quoted in the article:

“Unprecedented investment by US law firms in private equity-related hires has pumped scores of millions of dollars into the system. This has distorted the market by causing compensation to spike and creating huge knock-on effects down the chain as hapless rivals have scrambled to restock.”

The FT piece also explores the ramifications of this hiring frenzy on the strategies of mid-tier UK firms, as well as the broader market impact of US firms’ expansion in Europe. Notable players like Kirkland & Ellis and Paul Weiss have significantly grown their footprints, with Paul Weiss achieving a tenfold increase across Europe.

The full FT article offers a compelling deep dive into the forces shaping the future of London’s legal market.

Read the online version of the Financial Times (paywall) article here.