In this episode, Siobhán Lewington, partner at leading legal headhunter Macrae, joins us to unpack what’s driving the lateral partner market in London.
A former Allen & Overy and Arthur Cox lawyer, Siobhán has more than two decades advising firms on partner hires and team moves giving her a unique view into how City law has changed.
She explains how the market has evolved from the “gentlemen’s agreement” era - when Magic Circle firms avoided poaching from one another - to today’s fiercely competitive landscape dominated by US players. We explore why private capital remains the engine of London’s growth, and what makes a truly competitive platform: from tax and competition support to leverage finance and associate bench strength.
Siobhán also breaks down the New York-London axis, the growing wave of transatlantic mergers, and how firms are positioning themselves in the race to join the global elite. She shares why money alone doesn’t move partners, the real purpose behind multi-year guarantees, and how firms can better integrate lateral hires for long-term success.
Finally, Siobhán offers advice for partners weighing a move - from identifying push and pull factors to finding a genuine sponsor at any prospective firm. Packed with insight on talent strategy and firm identity, this episode is a must-listen for anyone interested in the current state of the London market.
Find out more about Macrae at their website: https://www.macrae.com/
Chapters
00:01 Introduction
01:00 Introduction to Siobhan and Macrae
02:05 Transition from Law to Recruitment
03:23 Evolution of the London Recruitment Market
07:03 Current State of the London Private Equity Market
11:00 Concentration Risks in Private Equity
13:52 The Changing Landscape of Law Firms
16:26 Growth Areas Beyond Private Capital
19:48 Litigation Market Dynamics
21:53 The New York-London Axis
22:15 Mergers and the New York-London Axis
28:34 The Mechanics of Partner Moves
40:09 Advice for Partners Considering a Move
43:28 Strategies for Firms to Attract Talent
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