Multi-Jurisdictional Lawyers to Lead the Way Forward in NY
For many years London has been a happy hunting ground for major US firms. As early as 1961 Baker & McKenzie set up shop in London, and in the intervening 53 years we have seen dozens of firms enter the UK legal market, whether through mergers with London firms or simply creating an international office, with varying degrees of success. The impact of UK firms on the US market, however, has been far less successful on the whole.
Now, some major UK legal brands are looking to change this. As a recent example, Freshfields is looking to rebrand itself as the firm of choice for cross-border problem-solving, especially vis-à-vis US market. Alongside some aggressive recruiting of well-known Wall Street personalities, it is pushing its credentials for being best equipped to tackle the types of international issues that they believe give corporate management the biggest headaches.
A major weapon in their armoury for this campaign is the knowledge and experience they possess in their ranks through multi-jurisdictional multi-lingual lawyers, which gives them an edge over some of the more traditional New York law firms. What we are seeing is the increasing marketability of English/US-qualified and other types of dual-qualified lawyers. Now more than ever, they are well-placed to spearhead the growth of major law firms on either side of the Atlantic.
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