Partners

The Partner Market

The transformation across the legal services market since the mid 1990s has seen the older hierarchies, management styles and career models become almost obsolete. Law firms’ response to globalisation involved radical changes in structure and strategy as well as a fundamental shift in the sophistication of client relationships, and with greater competition for increased market share came an intensified focus on profitability, rankings and league tables. The arrival in London and success of many US, national and regional firms added to the mix. These changes influenced law firm culture and mindset and continue to do so. As a result, the activity in the lateral hire market, both at fixed share and equity levels, has been phenomenal.

Our Partner Service

If you are a partner considering a move, there are many reasons why you should be talking to us.
 
We have a market leading Partner team with experience at all levels of partner recruitment. Our long-standing relationships with Managing Partners, Senior Partners, Heads of Department, HR Directors and Finance Directors enables us to deal directly with the decision makers on your behalf and as a contingency recruitment company, you won’t find your choice limited to a few specific firms – we cover the entire market allowing you to make a more informed choice.
 
Whether top end, mid tier or smaller boutique, we are aware of the firms with strong management, a clear strategy and a positive working environment; those with real potential and those where perception sometimes differs from reality. We can provide information on matters such as remuneration structures, departmental/team composition, firm client base, panel memberships and retirement policies.
 
All of our consultants have had previous careers practising in London law firms and we understand the issues and frustrations faced by partners. For the majority of partner moves, there is a clear expectation of a fully rounded skill set and a portable client base. We will assist you in determining your following and in preparing your business plan (see below) as well as advising on other issues such as presentation skills, notice periods and restrictive covenants. We are well versed in getting the best out of our candidates and will guide you through the process to ensure that you find the right platform to take your career to the next level.

Followings and Business Plans

In the vast majority of cases, a following will be required. The emphasis on following may be influenced by the reason behind the hire and in certain circumstances the need may even be bypassed. In essence, however, a firm looking to make a lateral hire appointment is seeking comfort that the partner will make a positive contribution to the firm’s practice and drive it forward. Whilst there is often a natural tendency to shy away from committing to a specific following, a track record of consistent business generation and evidence of a portable or potential client base need to be demonstrated.
 
A business plan will play a critical part in most partner appointments. We will help you in drafting yours and ensure it’s tailor-made for each opportunity. Our role involves extracting every relevant detail in order to map out a viable business case, centered on the portability of existing and potential clients as well as financial projections.

Considering a Move

We fully understand the reasons that lead a partner to contact us. Those we most commonly encounter include:

Change of direction within the firm              
Growth of the firm and change in culture
Partner's client base needing a better platform
Firm outgrowing partner's client base
Partner's practice area no longer core to the firm
Conflicting management styles and other management issues
Lack of international reach
Poor cross-selling culture
Poor profitability
Dissatisfaction with compensation structure
Feeling undervalued
Economic reasons / redundancy
 
Whatever your reasons, the priority is to find the best home we can for you and your practice. However, our role is not limited to finding you the right firm: we are more than happy just to talk through your issues and options, and to give you objective advice - all in complete confidence.