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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The $20m law firm partner: Headhunter Siobhán Lewington on the battle for Big Law talent

The Non-Billable Podcast