RedLaw Director, Amy Hambleton, looks back at the last quarter.
With a surprisingly buoyant summer of recruitment, the Autumn quarter leading to the end of the year has shown no signs of activity slowing down. Partner movement has remained consistent and demand is high as the fragmentation of the market continues with the plethora of US firms in the City and boutiques consistently springing up, ensuring that competition within the lateral market remains strong.
Activity has also been fairly sector and practice agnostic, with demand from firms across the board – from finance and corporate through to construction and white collar crime. Real estate and connected areas such as construction continue to thrive.
Mergers also are top on the agenda for many firms, particularly strengthening and building national capabilities with firms such as DMH Stallard combining with Rawlison Butler as well as larger firm mergers such as Dentons acquiring Maclay Murray Spens, further decreasing the number of independent Scottish firms and boutiques combining their strength (Wiggin acquiring IP boutique Redd). More merger activity is expected as firms publicly announce that they are in discussions.
As the end of the year comes into sight and half year results announced, we remain positive about market conditions.