Here at SRM Recruitment, we’ve commented many times about the US law firms’ dominance of the UK legal market over the last decade, especially in London.
But a recent article from Bloomberg Law suggests that UK law firms are fighting back!
Some of the largest law firms in London are looking to significantly scale up their US operations and expand by hiring in bulk from top US competitors, or exploring merger opportunities stateside.
US firms have ultimately gained their advantage in London by offering huge salary packages compared to their UK rivals. Chris Excell, head of legal recruitment at SRM commented: “The UK firms are getting squeezed out, they can’t compete with what the US firms pay.”
It’s a trend that’s dominated the legal landscape in London for years, so can the UK firms really fight back by taking the battle stateside?
Mergers between UK and US law firms are notoriously challenging and difficult to close, but if the right partner and strong business case can be found, they present an exciting opportunity for the UK law firms to scale up and win some potentially lucrative deals.
You can read the full article ‘UK Law Firms Fight US Invasion by Merging, Raiding Rivals’ on the Bloomberg Law website;
Need help to hire or looking for a new role? Talk to our legal recruitment experts today. Contact Chris Excell (chrisexcell@srmrecruitment.com) or Jonathan Smyth (jonathansmyth@srmrecruitment.com)