For our second annual Strategic Lateral Moves Report, Fox Rodney Search has partnered with independent legal research and strategy consultancy RSG Consulting, to broaden our coverage and analysis. Download the report HERE.
The lateral hiring market in the US was much more active in 2014 than in 2013. The AmLaw 100 segment experienced a 74% increase in activity. The top 50 firms were net losers of partners in every US market, with the exception of Houston and Miami, including a significant 38% net loss of partners in Chicago. The recipient of most of these partners were the 51-150 segment. Washington, DC outpaced New York for the largest number of total moves, and Litigation, Corporate and IP lead the way in terms of most active practice areas.
The London market showed marked stability by comparison with the US. Total moves were virtually flat between 2013 and 2014. The US firms are the clear acquirers of talent in London, with the top 10 UK law firms sustaining significant net losses. Whilst the Magic Circle firms remained relatively immune, those firms just outside that small group sustained net losses. Notably, the UK’s traditional national firm showed the greatest churn as a segment, as they seek to internationalise and refocus their strategies.