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Steadying the Ship in Uncertain Waters: Why Interim Finance Talent is Delivering Real Value This Quarter

finance meeting
finance meeting

Finance Hiring Outlook – Q3 2025

As we move through Q3, many finance teams across Herts, Beds, and Bucks are feeling the pinch.

Forecasts are under pressure, resources are tight, and yet, the work doesn’t slow down.

Whether its audit prep, business partnering, or just keeping the month-end engine running, there is still the need for high-quality support - it hasn’t gone away. But what has changed is how teams are accessing it.

What’s going on locally

From where I’m sitting, businesses are juggling a few challenges:

  • Permanent hires are taking longer to get signed off or just aren’t happening
  • Teams are stretched due to unexpected absences or long-term leave
  • Change projects are still on, but there’s fewer resources to support them
  • Core finance functions are often running on a shoestring

It’s no surprise, then, that more companies are turning to interim finance professionals - not as a last-minute band-aid but as a practical, often strategic choice.

Why interim talent works right now

Interims don’t need a lot of hand-holding. They usually show up ready to get stuck in and sort out the things that have been hanging over your head for weeks (or months). No lengthy inductions or corporate handbooks required. Just a clear brief and a laptop, and they’re off.

Here’s the kind of roles I’m placing these days:

  • Interim FDs and FCs to steady the ship and help prep for year-end
  • Qualified interims to cover BAU while permanent recruitment limps along
  • Transactional temps to take the pressure off AP/AR teams
  • Project specialists to push through system upgrades or finance transformations

It might not be flashy, but it gets results - quietly, efficiently, and without the drama.

Thinking ahead? Why now is the perfect time to act

Waiting until the last minute to plug gaps or add support usually means paying a premium, scrambling to find anyone available, or risking important deadlines slipping through the cracks. And let’s be honest, nobody wants to be that team desperately hunting for a miracle hire in November.

Q3 gives you a golden window to be proactive:

  • Secure the right talent before others snap them up - the best interim professionals get booked quickly, especially as year-end nears.
  • Give your new interim the time they need to get properly up to speed - which means smoother handovers, better results, and less firefighting.
  • Reduce burnout and workload stress on your existing team - a little breathing room now prevents bigger headaches later.
  • Keep critical projects on track - whether it’s closing the books, supporting audits, or rolling out system upgrades.

Plus, interim support can be a great way to test out potential permanent hires without a full commitment. It’s flexible, low-risk, and lets you focus on what matters most; hitting your year-end goals without losing sleep.

If you’re thinking “maybe we should get ahead of this,” you’re already on the right track.

Now all that’s left is a quick chat to work out the best approach for your team.

Get in touch with me, Liz Hawkins, on liz.hawkins@srmrecruitment.com or call +44 (0)7508 956587

 

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What does an efficient recruitment process actually look like in today’s finance market?

job interview hand shake
job interview hand shake

We’ve all seen it: job advertisements are down, application numbers are up, and the best finance professionals are getting snapped up in a matter of days.

In a market like this, having a tight recruitment process isn’t just a nice-to-have, it’s absolutely essential.

So what does that actually look like? We asked our consultants what really makes the difference when it comes to attracting and securing top finance talent.

Here’s what they said…

A well-designed recruitment process doesn’t just assess talent, it also sells the opportunity:

The most efficient processes begin long before the first CV is reviewed. A clear understanding of why the role exists, what it needs to achieve, and what the business can offer is critical.

That means sitting down to define not just the job title, but the actual business need. From there, you can shape an accurate job description and brief that reflects both the technical scope and the benefits of the role.

Keep interviews focused, transparent and timely:

One of the biggest frustrations for candidates in this market is lack of clarity/streamlining around the interview process. Many ask upfront: How many stages will there be? Who will I be meeting? What will I be expected to prepare?

We always advise our clients to make this information clear from the beginning. A well-planned process might have two stages, possibly a third for stakeholder alignment, but that’s often enough.

Testing or presentations should only be included if they genuinely reflect the skills needed in the role - not because “it’s what we’ve always done.” If the position requires financial modelling, analysis, or communication of insights, then yes, a task may be appropriate. But explain why, and don’t let it hold up progress.

Timeliness doesn’t mean rushing decisions:

It means being collaborative, decisive, and respectful of the candidate’s time and other options. In this market, it’s not unusual for strong finance professionals to receive offers within 7 to 10 days.

If your process stretches out over three or four weeks without clear updates, you’re likely to lose them.

Good finance candidates, especially in London and other major hubs, often have multiple offers. Speed signals seriousness.

Structure for stronger hires:

What’s working now is simple: clear communication, timely interviews, relevant assessment, quick feedback and discussion around training, mentorship and leadership.

These steps help avoid counteroffers, keep candidates engaged, and give them confidence in your business. They also show that your company has strong internal processes and decision-making.

The sooner your new hire starts, the sooner they can take pressure off your team, drive improvements, and contribute to the business.

In summary

An efficient hiring process in finance isn’t about cutting corners, it’s about cutting out confusion.

When you combine clear role definition, structured interviews, and a well-managed timeline, you not only move faster than the competition, but you also attract stronger, more serious candidates.

If you’re reviewing your hiring approach or struggling to move quickly in the current market, we’d be happy to talk through how we support clients in making the process more streamlined - without compromising on quality.

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London Finance Update: What Australians and New Zealanders need to know before making the move

Finance Market Update
Finance Market Update

Finance jobs in London remain a top draw for Australian and New Zealand Youth Mobility Visa (YMV) holders, though 2024 has seen a slight dip in arrivals compared to the previous year.

In 2023, 9,900 Australians and 5,300 New Zealanders entered the UK on a YMV. This fell to 9,754 Australians and 4,304 New Zealanders in 2024 - a combined drop of around 8%.

Several factors could be behind this slowdown: the increasing cost of the visa itself, rising living expenses across the UK, and ongoing uncertainty in the employment market. Despite this, London continues to attract finance professionals with its strong career prospects, travel opportunities, and vibrant lifestyle.

As we moved through the end of 2023 and into 2024, we've seen a noticeable shift in candidate behaviour and employer expectations - particularly around salaries, job search timelines, and how individuals structure their move to the UK. Here’s what finance professionals should consider before booking that one-way ticket.

Salaries: A Strong Draw, But a Calmer Market

London salaries in the finance sector remain 20–50% higher than those in Australia and New Zealand for candidates with comparable experience. This continues to be a major motivator for those relocating.

That said, businesses are facing their own pressures - with tighter budgets and recent National Insurance increases, many employers are taking a more cautious approach to hiring. While demand remains, the frenzy of 2023 has eased.

This is especially evident for newly qualified (NQ) professionals transitioning directly from practice. In 2023, it was rare to secure a CA-qualified candidate for under £60,000. Now, salaries have stabilised, with most offers falling between £55,000–£60,000, often alongside discretionary bonuses.

The message? The opportunities are still there, but expectations should be realistic and flexibility is key.

Timelines: Speeding Up, But Still Requires Patience

Earlier this year, new arrivals were typically taking up to six weeks to secure a role. According to data from Global Careers HQ in New Zealand, that timeframe has since improved slightly to around five weeks.

One of the biggest challenges we see is misaligned expectations. Many candidates move with advice from peers who landed roles in previous years — when market conditions were very different. In the current climate, it’s important to understand that things may take a bit longer, and the path to employment might not be as straightforward.

Securing a role before arriving in the UK remains uncommon, particularly for those eyeing interim or temporary roles. However, strong CVs, relevant qualifications (like CA or CPA), and proactive networking can help candidates stand out in a more competitive market.

Search Strategies: The Early Bird Catches the Job

In the past, many candidates would travel for months before settling in London, arriving in September or October without raising eyebrows. That approach doesn’t quite fly in today’s market.

With job vacancies down 20% toward the end of 2024 and ongoing economic uncertainty leading to a dip in business confidence, candidates are now taking a more structured approach to their move.

We're seeing a shift in mindset: people are arriving earlier in the year, prioritising job and accommodation security before the traditionally quieter summer months. This strategic planning not only improves job prospects but also helps with settling into London life with greater financial stability.

Final Thoughts: Planning and Perspective are Key

The UK still offers a fantastic launchpad for Aussie and Kiwi finance professionals, but those looking to make the move in 2025 need to do so with their eyes wide open.

Yes, there are challenges: fewer vacancies, stabilised salaries, and more competition. But the rewards are still very much on offer for those who plan ahead, stay flexible, and adjust expectations to the current market.

At the end of the day, London’s finance scene isn’t just about the job; it’s about the lifestyle, the experience, and the doors it can open in your career. Just be sure to pack a plan along with your passport.

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Legal Movers and Shakers in 2025: Lateral Moves in Q2

Legal partner hires
Legal partner hires

In the first half of 2025, the number of lateral partner moves considerably increased from 2024, with Edwards Gibson reporting that there have been 349 partner moves, a 25% increase from the first half of 2024.  

Specifically, the second quarter of 2025 saw exceptionally high levels of lateral partner movement in London’s legal market. This wave of mobility has been influenced by several key trends:

  • the fallout of major law firm mergers,
  • strategic repositioning in key sectors such as banking and finance, disputes, and energy, and
  • continued interest in flexible or boutique platforms.

We have compiled a selection of 150 lateral partner moves that occurred (or were at least announced) in April, May, and June 2025. We sourced these moves from a variety of legal publications and online databases, and using this snapshot of the market we have analysed a number of trends happening in the market, and what we might expect to see for the latter half of 2025.

Overall, Baker McKenzie, Jones Day, and Pinsent Masons led the charge in hiring, with many other firms like Addleshaw Goddard, BCLP and MWE following closely. Banking and finance made up about 30% of the hires from our dataset, while corporate and disputes drew about even with roughly 15% each. Female partner moves made up roughly 29% of our data, which is on par with our data from Q1.

Banking and Finance: The Epicentre of Lateral Movement

The most active practice in our data by a significant margin was banking and finance, accounting for over 30 partner moves in the three-month period. Firms like Dechert, Addleshaw Goddard, Baker Botts, Paul Weiss, and Gibson Dunn were prominent recruiters, while the merged A&O Shearman saw a notable number of high-profile departures.

  • A&O Shearman lost at least five banking and finance partners; Barnabas Reynolds who joined Sullivan & Cromwell, and Franz Ranero and James Smallwood who both left for Latham & Watkins.
  • Paul Weiss continued aggressive expansion in London, poaching Cameron Roper from Proskauer Rose and Nick Charlwood from A&O Shearman.
  • Dechert brought in a four-lawyer team including Sushila Nayal and James Jirtle from Orrick.

Disputes Remains a Strategic Battleground

Dispute resolution remained one of the most mobile practice areas with 21 moves, reflecting strong client demand and firm competition for litigation talent.

  • Jones Day recruited multiple high-profile disputes partners:  Philip Pfeffer from HSF Kramer, as well as Samantha Silver and Natalie Smyth from Kennedys.
  • Schjødt, a Norwegian firm new to London, made bold moves into disputes with hires like Nick Barber and Cristan Evans from Stephenson Harwood.

Real Estate and Infrastructure: Surging Activity Amid Market Confidence

Surprisingly, real estate and infrastructure saw strong lateral activity, indicating renewed investor confidence and infrastructure project momentum.

  • Over 15 moves in real estate, including Paul Dineen joining KPMG from DLA Piper, Simon Price joining Bird & Bird from Mayer Brown, and HSF Kramer hiring Alison Hardy from Ashurst to lead their real estate disputes team.
  • Infrastructure also saw some notable moves including Richard Ceeney, who moved from Reed Smith to Greenberg Traurig, and Katie Hicks, who joined Milbank from White & Case.

Gender Representation and Progress

Female partner mobility remained moderate, with around 29% of the movers being women, reflecting ongoing gender imbalance at the senior level.

  • Notable female movers included Katie Hicks (Milbank), Emma Wright (Crowell & Moring), and Virginia Allen (Greenberg Traurig).
  • Firms like Fieldfisher, Baker Botts, and Simpson Thacher made multiple female partner hires.

Boutique and Alternative Platforms on the Rise

Platforms like Keystone Law and Broadfield saw multiple hires, suggesting a growing preference for flexible, partner-led platforms among senior lawyers seeking independence or a better work-life balance.

  • Keystone Law brought in a number of new partners, which carries over their strong partner acquisition strategy from Q1.
  • Broadfield hired a 2-partner team from Trowers and Hamlins; Sarah Souter and Claire Atkins.

Conclusion

The period from April to June 2025 was marked by intense lateral activity, driven by post-merger shifts, US law firms continuing to expand their market share within London, sector-specific demand in finance and disputes, and optimism in real estate and infrastructure.

Looking ahead at the second half of 2025, we might expect to see:

  • Firms are currently engaged in extravagant compensation battles, notwithstanding the ongoing trend with US law firms getting rid of their all-equity partnership models – it could be expected that firms that are holding out on restructuring their compensation levels would stand to see more attrition as the year goes on.
  • London firms are heavily investing in AI and legal tech, and it is expected that there will continue to be a good deal of movement in these areas as firms vie for the top talent.
  • Looming trade-wars and potential economic slowdown could spur more advisory and litigation needs amid uncertain political and economic landscapes.
  • A&O Shearman has seen relatively significant attrition in 2025, losing 15 partners in London alone. This post-merger disruption might be echoed with HSF Kramer and the recently announced McDermott Will & Schulte.
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2025 Mid-Year Hiring Review, by Andrew Setchell, CEO

Tower Bridge Sunset
Tower Bridge Sunset

In my January update, I shared some expectations for 2025:

  • Stabilising interest rates: With rates projected to hold steady around 4-5%, we anticipated a more stable environment that could support increased business investment and hiring.
  • Strong Q4 2024 performance: Our momentum at the end of 2024 gave us a positive foundation entering the new year.
  • Job market dynamics: Following the major employment shifts in 2022, we expected 2025 to bring renewed movement as individuals reached the three-year mark in their current roles - typically a trigger for career reassessment and change.

These trends have largely held true so far in 2025.

Our performance in the first half of the year reflects cautious optimism, even amidst new challenges - particularly the re-emergence of tariffs, which we’ve not had to navigate significantly in the UK for many years.

Just as we begin to feel a sense of normality and stability, another external event emerges to test business resilience. These disruptions slow down decision-making, force strategy adjustments and often hinder growth.

But, there’s always a “but”…

The improvements we’re seeing are not universal. Success remains concentrated in certain sectors or business types. Organisations with a long-term view and solid investment strategies are maintaining a positive outlook.

Meanwhile, those operating on shorter-term models or carrying higher debt are feeling the strain more acutely.

The Candidate Factor

Historically, when the number of available roles drops, the talent pool grows. That pattern has shifted. Today’s candidates are more cautious - often opting to stay put rather than even entertain new opportunities. This hesitancy might be a response to uncertainty, or perhaps a sign of shifting career priorities.

It raises the question: are some professionals sacrificing ambition for comfort?

The encouraging news is that while shortlists may be shorter, the quality of candidates remains high. Our commitment to excellence in every placement hasn’t changed - and won’t.

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Career Journey Spotlight: Q&A with Jason Smith, VP International Finance at Papa Johns

client Q&a - Jason Smith
client Q&a - Jason Smith

Luke Higgs, Regional Director at SRM, recently caught up with one of our long-standing clients, Jason Smith, to hear more about his career, his role at Papa Johns, and his experience working with SRM on a major finance recruitment project.

Q: Tell us a bit about your career to date – what led you to your current role at Papa Johns, and what does your role involve?

I’ve been lucky to work for some fantastic organisations with great leaders and teams. My career has always been in finance, working with consumer brands in the leisure and hospitality space. That’s included big corporates like Whitbread and TUI, as well as private equity-backed companies like TGI Fridays and David Lloyd.

Breadth of experience has always been important to me – I’ve worked across a wide range of finance disciplines, from commercial business partnering to accounting, financial control, shared services and finance transformation.

The opportunity at Papa Johns came about unexpectedly and quite organically – it started with an informal catch-up with a former colleague, which eventually led to me being offered the role. I’ve now been here just over a year. The international business covers around 2,500 restaurants across more than 40 countries, so it’s a broad remit. I lead the finance team and am responsible for finance strategy, planning, and commercial decision support.

Q: What’s been your biggest challenge – or biggest success – in the role so far?

I’d never worked in quick service restaurants (QSR) before, so it was a new environment for me. I’d say my biggest success has been leading the transformation and implementation of a new in-house UK finance team. Alongside that, I’ve been focused on providing financial leadership to our operations teams – helping to keep everyone aligned on the areas that really drive performance.

Q: In your view, how has the role of a finance leader evolved over the years?

It’s changed a lot. When I started out, finance was much more focused on reporting and control. These days, finance leaders are expected to be strategic advisors – not just number crunchers. With the sheer amount of data available now, we’re able to support faster, smarter decision-making. It’s not just about managing the budget anymore – it’s about helping shape the future of the business.

Q: What advice would you give someone just starting out in a finance career?

A few things, really:

  • Try to get as much breadth of experience as possible, rather than specialising too early. When you’re looking at a new role, think about how it will set you up for the next one and how it fits into your long-term career plan.
  • Get under the skin of the numbers. Really understand what’s driving them, and spend time with the operations teams – that’s where you’ll get a real understanding of the business.
  • And finally, focus on building strong relationships right across the organisation. It makes a big difference.

Q: We recently worked with you on a large recruitment project to hire 15 finance professionals into your team. Why did you choose SRM as your recruitment partner?

Recruitment is all about relationships – both from a client and a candidate perspective. I’d worked with SRM before on specific roles when I was at TUI, and they always understood the brief well. This was a large-scale project that spanned different locations, so working with one recruiter who could cover the full geography made sense.

Q: How did you find working with SRM on this project? What did we do well?

It was a good process overall. SRM provided dedicated resources for the different types of roles, which worked really well. They really understood the roles and the kind of candidates we needed – the quality of the shortlists was impressive.

Q: Were there any challenges during the project, and how did you overcome them?

There are always challenges when it comes to recruitment – it’s just the nature of it. But we tackled them by working closely together and making decisions quickly when needed.

Q: What advice would you give to someone thinking about working with a recruiter? How can they get the most from the partnership?

Make sure your recruiter really understands the brief – not just the job description, but the type of person who’ll thrive in the role. Don’t be afraid to be challenged either – a good recruiter will offer alternative views and help you see things from different angles.

get in touch

Huge thanks to Jason for taking the time to speak with us!

If you are looking to hire for your Finance team or make a career move yourself and seek a specialist recruiter who truly understands the market, we're here to help. Contact Luke Higgs in the first instance on lukehiggs@srmrecruitment.com or call +44 (0)7947 272862. 

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Why Hiring in Tax at the NQ–3 years PQE Level is Tough Right Now

Tax NQ
Tax NQ

If you're hiring in Tax at the newly qualified to 3 years' PQE level, you're probably already feeling the pain. It’s a challenging part of the market - arguably the hardest right now.

Why? A mix of long-term talent issues, increased demand, and changing candidate expectations.

Here’s a look at why it’s so difficult right now - and what you can do to give yourself an edge.

1. Shrinking Talent Pipeline

The impact of COVID-era recruitment cuts/freezes is still being felt. Graduate intake was reduced dramatically during 2020–2021, and now we’re seeing the results: a “missing middle” in the workforce at 1–3 years PQE. The knock-on effect means there just aren’t enough people coming through the system to meet demand.

2. High Demand from All Sides

Everyone wants the same people:

  • Practices need newly qualifieds to deliver client work and relieve pressure on senior teams.
  • In-house teams are chasing technically trained talent who are still relatively affordable.

This dual demand and aggressive hiring is inflating competition, pushing up salaries and sparking bidding wars for a limited number of candidates.

3. Improved Retention in Practice Firms

Previously, many NQs left Big 4 and Top 10 firms soon after qualifying. Reasons included burnout, unclear career paths, or better work-life balance elsewhere. But firms have taken note and improved. Strong performers are being promoted and looked after, which means fewer are jumping ship.

4. Salary Expectations & Cost of Living Pressures

With high inflation and cost of living pressures, candidates are more selective and motivated by money. Many won’t even consider a move unless there’s a 10-20% salary increase, even if the new role offers better long-term potential.

5. Tight Candidate Preferences

Many newly qualified candidates are highly specific about what they want:

  • Remote-first roles.
  • Only want in-house, not practice.
  • Prefer advisory over compliance.
  • Want clear progression in 12 months.

It’s not that they’re unrealistic, it’s just that they know what they want, and they’re willing to wait for it.

6. Visa & Right-to-Work Constraints

Historically, a large proportion of tax trainees in London have been international. But post-Brexit visa restrictions mean fewer firms are less willing or able to sponsor candidates, especially in-house, ruling out a significant slice of potential hires.

So, What Can Employers Do?

While bigger-picture solutions will take time, there are steps you can take to improve your chances of securing talent in the short-term:

  • Engage specialist Tax recruiters early

Don’t wait until the role goes live. Engage specialist tax recruiters at planning stage - they’ll know where to look for limited talent and can get ahead of the curve.

  • Reassess your hiring criteria

Be more open to candidates who qualified in other areas of Tax. For example, if you're hiring for a Corporate Tax role, consider someone from Employment, VAT, or Transfer Pricing backgrounds who can transition across.

  • Streamline your hiring process

Move quickly from receiving the CV to interview and through the interview stages. Keep it to 2-3 stages, max. Move fast, be decisive and make offers quickly. A client has recently declared they have 6 stages to hire, no matter what the level, but a long, clunky hiring process means you’re already losing the race.

  • Offer more competitive (or creative) packages

Counter-offers are increasingly more common at this level. Candidates are often at point in life where the cost-of-living crisis has hit them hard in terms of paying for rent let alone saving for a mortgage. It’s a false economy - in the end making a small saving on a base salary/package in comparison to making the right hire and having someone motivated to join and stay!

Be more creative - if meeting initial base salary expectations are difficult, consider; salary reviews at 6 or 12 months tied to performance, sign-on bonuses or additional benefits or flexible perks.

Don’t risk losing the right person by lowballing the offer!

Summary

The UK tax hiring market at the NQ–3 years PQE level is facing a perfect storm:

  • Too few candidates in the pipeline
  • Too much competition for those who remain.
  • And a candidate pool that knows exactly what it wants

To succeed, firms need to adapt, and fast. That means rethinking old assumptions, speeding up hiring processes, and making offers that genuinely excite. Because when the right person shows up, chances are, someone else is trying to hire them too.

GET IN TOUCH:

Whether you’re planning ahead or hiring urgently, having the right strategy (and support) makes all the difference. James Rodgers is our Head of Tax Recruitment at SRM – contact him on jamesrodgers@srmrecruitment.com or call +44 (0)7852 322955

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Is your finance team prepared this summer?

finance meeting
finance meeting

With June already here, many workers will be getting ready for their well-deserved summer break; drink in hand, sun-cream lathered and not a PO in sight!

But what are the risks for active finance teams, with so much annual leave taking place?

  • Late payments
  • Projects & potential year-end prep on hold
  • Missed deadlines
  • Delayed hiring processes
  • Lack of momentum

Hiring an interim over the summer period is a smart way to counter those headaches.

Here are just some of the key advantages:

  • Coverage - Bringing on an interim will help maintain productivity and prevent backlogs whilst minimising burnout due to stretched teams.
  • Continuity - Keeps finance transformation, projects, system upgrades or audit prep work moving forward and ensures timelines are met.
  • Flexibility – You are not tied down to a long-term agreement. This gives you the chance to manage an increased demand (particular for tourism, leisure, retail sectors) with confidence.
  • Upskilling – It’s a fantastic way to bring in a fresh perspective and upskill exiting members of your team (who aren’t soaking up the sun in Majorca).
  • Experienced – Interim staff are usually highly experienced specialists in their field, whether that be payables, receivables, reporting, implementation or audit. They can focus on what needs to be done with minimal training.
  • Recruitment – With so many of your team away, it’s hard to commit your time to a hiring process. Unfortunately, the demand for another head does not take leave. Having an interim on-board can cover the existing need, or even flex their knowledge and help interview/on-board new staff.

If you take the appropriate steps to minimise the summer risks, you will be thanking yourself in September.

GET IN TOUCH

If you need help to hire temporary finance professionals for your firm, or seek your next interim finance career move, please get in touch with Bradley Chilvers on bradleychilvers@srmrecruitment.com or call +44 (0)7398 766803

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The UK Legal Market in 2025: A Five-Year Transformation

legal courts
legal courts

Five years on from the seismic shifts of 2020, the UK legal market in 2025 is a markedly different landscape. The post-pandemic era has brought about significant structural change, consolidation and cultural transformation across the sector. Law firms have adapted in ways that would have been inconceivable pre-COVID - embracing flexibility, technology and a more client-centric approach. But while some have thrived, others have struggled to adjust.

Below, we explore how the UK legal market has evolved since 2020 - focusing on firm mergers, lateral hiring trends, cultural shifts and the pressures facing those that failed to keep pace.

Post-Pandemic Resilience and Reinvention

The COVID-19 pandemic in 2020 forced law firms to adapt rapidly, with remote working, digital courtrooms and transformed client service models becoming the norm almost overnight. What began as a contingency plan has since solidified into permanent change.

By 2025, hybrid working is standard across most UK firms. The rigid 9-to-5, office-based structure has given way to a more flexible, output-driven environment. Firms like Clifford Chance, Linklaters and A&O Shearman now operate with formalised hybrid frameworks, with lawyers typically in the office 2–3 days a week. This has supported greater work-life balance but also increased expectations around responsiveness and digital proficiency.

The pandemic also exposed inefficiencies in the traditional law firm model. In response, firms have significantly invested in legal tech, knowledge platforms and AI-powered research tools. Legal project management and client-facing dashboards have become crucial differentiators, as clients demand greater transparency, efficiency and value.

Consolidation Through Mergers

The past five years have seen a surge in law firm mergers, both domestic and international. These combinations are often driven by client demand for global reach, deeper expertise and seamless cross-border service.

Key examples include:

  • Mishcon de Reya and Taylor Vinters (2023):This merger created a hybrid firm focused on private wealth, innovation and fast-growth businesses. It allowed Mishcon to strengthen its reputation in the start-up and venture capital space while preserving its private client heritage. It also demonstrated how firms are broadening their market reach through strategic cultural alignment.
  • Allen & Overy and Shearman & Sterling (2024):The formation of A&O Shearman marked a milestone in transatlantic legal mergers, creating a £2.9 billion global giant with extensive UK and US capability. It set off a chain reaction of merger conversations among peer firms.
  • Locke Lord and Troutman Pepper (2025):This significant US merger created a new player with enhanced national scale, sector strength and global ambition. While primarily US-focused, the implications are being felt in London as the new entity eyes growth in energy, insurance and cross-border regulatory work.

These mergers reflect a broader strategic shift: clients want integrated service and deeper benches, and firms are increasingly finding that consolidation is the fastest route to achieve that.

Lateral Movement and Team Hires

The post-pandemic legal hiring market has been one of the most active in recent memory. Lateral partner and team movement, particularly in London, has been at record levels.

  • Private equity, leveraged finance and funds teams remain hot property, fuelled by a post-COVID deal boom and high client demand.
  • US firms in London - notably Kirkland & Ellis, Latham & Watkins and Paul Hastings - have continued to recruit aggressively from UK firms, often with eye-watering compensation packages.
  • Regulatory, ESG and white-collar teams are also seeing increased demand, as clients face rising scrutiny on governance, sustainability and compliance.

In response, UK firms are refining their retention strategies - offering greater flexibility, faster promotion tracks and equity incentives to retain top performers.

Winners and Losers: Firms Under Pressure

While many firms have modernised and adapted, not all have weathered the storm equally.

Rosenblatt is a cautionary tale. Once a standout for its listed structure and high-growth narrative, the firm has faced declining revenues, leadership instability and public scrutiny over its strategic direction. Despite early moves to diversify income streams through litigation finance and advisory services, it struggled to achieve sustainable profitability and scale in a post-COVID market that favours larger, integrated players.

Other mid-sized firms without a clear niche or international capability have also found the landscape tougher. A lack of investment in tech, overdependence on transactional income, and an inability to retain top talent have left some firms vulnerable.

The market is becoming more polarised, rewarding firms that are bold, differentiated and tech-savvy, while putting pressure on those that remain stagnant or overly traditional.

Shifting Firm Culture and the Rise of “Purpose”

Perhaps the most profound transformation since 2020 has been cultural. The traditional law firm model – defined by long hours, hierarchy and limited transparency - has undergone a slow but meaningful redefinition.

There’s now a clear shift towards:

  • Mental health and wellbeing: Firms such as Dentons and Mishcon de Reya have invested in structured mental health programmes, recognising that sustainable performance requires support, not just pressure.
  • DE&I transparency: Firms like Pinsent Masons and Slaughter and May have embraced public accountability, publishing annual DE&I metrics and setting targets at board level.
  • Purpose-driven leadership: Increasingly, lawyers - particularly younger ones - expect firms to act ethically and align with social impact goals. This is shaping recruitment, client relationships and even firm strategy.

Tech-Driven Client Expectations

Technology has become a core part of legal service delivery - not just in back-end operations, but client-facing experience too. The shift to digital is now an expectation rather than an option.

Clients want faster turnaround, clearer communication and predictable pricing. Firms are meeting these expectations through investment in AI, workflow automation, digital portals and collaborative platforms. Those lagging behind risk being seen as inefficient or outdated.

Conclusion

The UK legal market in 2025 is more global, consolidated, agile and culturally evolved than it was in 2020. The pandemic was a catalyst - not just for remote working, but for long-overdue structural and cultural change.

Firms that embraced transformation - whether through mergers, innovation or a stronger people-first culture - are now reaping the benefits. At the same time, those that lacked clarity, investment or adaptability are struggling to keep up.

As the market continues to evolve, the firms that succeed will be those who keep adapting - balancing scale with empathy, efficiency with ethics and tradition with transformation.

get in touch

If you need help to hire legal professionals for your firm, or seek your next legal career move, please get in touch with Chris Excell on chrisexcell@srmrecruitment.com or call +44 (0)7946 142731

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The changing role of CFOs and why they are the catalyst for driving transformation

digital transformation
digital transformation

The role of the CFO has changed dramatically over the last 10 years, from leader of the Finance department looking after financial reporting and cost management, to one of the most strategic roles in an organisation. Whether through digital innovation, operational efficiencies, or sustainable growth strategies, modern CFOs are playing a pivotal role in steering their companies towards long-term success.

One of the questions that I regularly ask Heads of Transformation is, ‘what is your reporting line’?

Some report into the CIO, particularly if their area of expertise is more digitally focused. A smaller proportion may report into a Head of Strategy, particularly in a large blue-chip organisation, or COO.

But a large proportion of those I ask report directly into the CFO. This makes complete commercial sense as without the CFO’s approval, no transformation initiatives can go ahead, and the scope of these and timescales need to be approved by the CFO too.

Some organisations have their CIO now reporting directly to the CFO; something which in the past would have been frowned upon.

Key architects of change

CFOs now have to be multi-skilled and are uniquely positioned in the business to drive innovation and change. Their role has changed from financial gatekeeper to management of transformation processes ensuring that budget and timescales are closely monitored.

This shift has made the CFO one of the most influential voices in the boardroom. With a direct line into all areas of the business and a constant eye on both operational performance and strategic vision, CFOs are now seen as key architects of change – not just enablers.

As a result, the jump from CFO to CEO is becoming less of a surprise and more of a logical next step. They already have the commercial acumen, the cross-functional oversight and the trust of stakeholders – all qualities that are critical in today’s modern CEO.

CFO's role is key to long-term success

In many ways, the CFO has become the proving ground for future CEOs – a role that blends financial expertise with strategic leadership, innovation and transformation. And as businesses continue to navigate uncertainty and change, the CFO’s role as a catalyst for transformation will only become more central to long-term success.

get in touch

If you need help to hire T&T professionals or are looking for you next career move, get in touch with David Kingston on davidkingston@srmrecruitment.com or call +44 (0)7931 984316.