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Matthew Dwyer
Private Practice team
London
Regional Law Firms
The pace of change within the large regional law firms has been dramatic over the past five years.
Whilst the headline deals will remain the preserve of the larger City players, a number of large regional firms are actively marketing their ability to deliver a City-style service, and many corporates and banks are turning to the regional firms as a way of containing their legal spend.
The main regional firms are now concentrating on sector specialisation, increasing profitability and sustained, if not dramatic, growth.
Types of regional firms
There is huge diversity in the regional practices. They range from the large national firms with established international connections and City firms with additional offices outside London, to single site commercial firms that are well-established in their markets, as well as more general practices.
Demand for partners within the regional firms
The larger regional firms are in growth mode, and as such are often opportunistic in the hiring of lateral partners in complementary practice areas such as tax.
The most active areas where regional firms are looking to make lateral partner hires are:
- Corporate M&A
- Share Schemes
- Private Client
- Real Estate Tax
- General Corporate/Mixed Tax
Followings required by regional firms
Again, tax is an area in which a lateral hire partner would not be expected to have a following. It is more likely that a strategic business can be created.
