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Are your partners motivated by individual or collective ambition?

By Neil May, Executive Manager, Hogan Lovells

30 April 2013

Several interesting pieces of research were published over the first quarter of this year that give some fresh perspectives on how to thrive in competitive markets.

The American Lawyer reported that the lateral hire market has continued unabated, with 2,691 partners joining or leaving Am Law 200 firms in 2012. That is a lot of investment, but it doesn’t always pay off. Back in the UK, Motive Legal reported that a third of the 2,763 London lateral partner hires made by law firms between 2005 and 2012 were no longer with the same firm.

Financial difficulties aside, partners move because: they seek greener (or perhaps better paying) pastures; their values have been negated, for example they feel they have been unfairly treated in a compensation review; or because the fit is no longer seen as working and they are being managed out.

Given that there is evidently a large amount of mana...

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