A new survey conducted by “Legal Week” finds that lateral partner hiring by U.S. firms in London fell to its lowest level last year since 2004. Hiring trends at 37 of the biggest U.S. and trans-Atlantic firms show that just 59 lateral partner moves were made in 2009. Many firms were reluctant to expand with a continuing global recession. This figure is a decline of 2008 recruitment levels when there were 77 lateral partner hires, the highest since 2005 (when there were 80).
Greenberg Traurig was responsible for a quarter of all partner hires by U.S. Firms in London last year. Minus Greenberg Traurig’s 15 partner appointments there were just 44 new hires across all remaining firms. The most active firms after Greenberg were Paul Hastings Janofsky & Walker, which hired 8 partners, including a 7 partner team from Cadwalader Wickersham & Taft . Other firms making lateral moves included Mayer Brown and Reed Smith, making five each.