Marketplace Roundup: March 2017

The message for the first quarter of the year has continued to be business as usual in terms of recruitment. With the administration of the European arm of King & Wood Mallesons, the consequent outpouring of staff to a multitude of firms has significantly distorted anticipated recruitment levels for firms, particularly at the lateral level. Many US firms have benefited from the influx of larger team hires, enabling them to substantially grow their headcount and build their London offices in one fell swoop. But other laterals outside of KWM’s demise have continued to be made, in a multitude of areas ranging from finance and corporate with an increasing appetite for contentious lawyers at all types of firms.

More mergers have been announced both domestically and internationally, with particularly acquisitive firms such as DWF continuing to take their brand nationally and the forthcoming merger of Norton Rose Fulbright and Chadbourne & Parke underlines the current strategy of the large global firms to strengthen in particular jurisdictions and capitalise on market dominance with one brand. Whilst some mergers have been called off (Stewarts/Enyo), the appetite remains unabated to combine with others in a market bracing itself for the impact of the triggering of Article 50.