2024’s London associate rent market was removed from run-of-the-mill.
U.S. corporations poached from main homegrown corporations, homegrown corporations recruited from the U.S. corporations. B
However the majority of this 12 months’s most-read rent tales described U.S. corporations recruiting from different U.S. corporations, pushed by vital exercise within the personal fairness sector, a rising pattern within the U.Ok. capital.
Listed here are the hires that bought the trade speaking in 2024.
George Casey and co
Again in January, Shearman & Sterling’s international co-managing associate George Casey led a five-person workforce to Linklaters’ New York workplace forward of Shearman’s merger with Allen & Overy. It had already been determined that A&O’s leaders would head the newly-merged A&O Shearman, leaving Shearman’s high brass with various avenues. Casey’s transfer expanded Linklaters’ M&A capabilities, after the agency had proven indicators of falling behind elite U.Ok. rivals within the U.S.
Annie Herdman
Paul, Weiss, Rifkind, Wharton & Garrison continued its aggressive U.Ok. hiring technique into 2024, including antitrust associate Annie Herdman from Ropes & Grey in February. Previous to her time at R&G, Herdman labored at Kirkland & Ellis. This 12 months’s transfer allowed her to rejoin former colleagues Neel Sachdev and Roger Johnson, a part of a roster of 14 who jumped from Kirkland to Paul Weiss final 12 months.
Christian Iwakso and co.
Three days later, one other American agency with designs on London made a transfer as Fried, Frank, Harris, Shriver & Jacobsen employed a trio of Goodwin Procter personal fairness companions. Christian Iwakso, Michelle Tong and Priya Rupal had been all described by Fried Frank’s London managing associate as “highly effective additions to Fried Frank in Europe”.
James King
Paul Weiss’s gutting of Kirkland confirmed no indicators of abating early in 2024. The rent of James King was distinctive in that it enabled Paul Weiss to ascertain a complete new funds observe in London. King’s transfer introduced the agency’s London associate headcount to roughly 20, an anticipated growth ready for partially by the transfer to Twitter’s former Soho HQ in October of 2023. Kirkland, however, was poised to reply.
Paul Hibbert and Emma Serginson
Simpson Thacher & Bartlett added two power and infrastructure companions within the spring from rivals Weil, Gotshal & Manges. However Paul Hibbert and Emma Serginson weren’t the primary companions of the 12 months to beef up the Simpson Thacher workforce. In February, litigation skilled David Edwards joined from Skadden, Arps, Slate, Meagher & Flom. This rent, that of the Goodwin trio, and Herdman, all occurred inside a couple of days of one another, showcasing the depth of U.S. corporations’ hunt for expertise in London.
Vanessa Xu
In April, Kirkland swooped in for leveraged finance associate Vanessa Xu from Allen & Overy. Xu had been at A&O for practically 18 years, her experience mendacity in advising personal fairness purchasers on transactions. The rent fashioned a part of Kirkland’s London rebuild, mitigating the consequences of the continuing Paul Weiss raid. In October of 2023, Kirkland added from Simpson Thacher, and in March, from HSF.
Roger Schofield
One more personal equity-related lateral rent got here within the late summer season, once more by Fried Frank. Companion Roger Schofield made the transfer after 5 years at Freshfields Bruckhaus Deringer, bringing his actual property experience with him. Solely a handful of Freshfields London companions had left in recent times, Mark Austin and Bruce Embley amongst them. Freshfields has itself succeeded with its growth efforts within the US to date, attracting one of the best of native expertise like Sarah Solum and Damien Zoubek.
Jay Sadanandan and co
Additionally in August, a five-strong workforce from Latham & Watkins’ finance observe departed for Sidley Austin. The leaving crew was led by companions Jayanthi Sadanandan and Sam Hamilton, with the others unnamed within the preliminary announcement. Sadanandan specifically was identified for her notable affect within the designation of personal fairness mandates. Latham additionally misplaced six London companions to Milbank that very same day, though the blow was possible softened by their very own three-strong team-poach from Cahill Gordon & Reindel in Might.
