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Mark Brewer
Director & Partner team
London
US Law Firms in London
Historically
Traditionally, the US law firms have not used the title of salaried partner. There were, and still are, levels known as ‘Of Counsel’, ‘Counsel’ or ‘International Counsel’. These terms are used by a large number of US firms, sometimes to indicate the level between associate and equity partner, or else to recognise the level of experience of an individual not destined for partnership.
Today
In order to adjust to the UK market, a number of US law firms have introduced a fixed share level in London. There are also several US law firms that have merged with UK practices in London, of which the resultant firms have retained a fixed share partner level. Moreover, some practices have created a ‘local' partner level, which consists of a fixed element and a bonus.
Market demand
This is not an active area in terms of recruitment.
The majority of the demand is for equity partners, but in certain circumstances where a firm is very keen on an individual's skill-set but their client following does not satisfy the equity criteria, then they may consider hiring individuals at this level.
Mainly, this level is used more for internal appointments than external candidates.
Notice period
As with the equity partners, most local partners have nominal notice periods of between 0-30 days. This is not always the case with firms that have merged with UK law firms, where the notice period can be higher.
Level of remuneration
This can vary enormously, but will typically be in the range of £150,000-£270,000 plus bonus.
