Legal Business

Global London 2023 – US firms thrive even as the deal market starts to cool

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Overview: Resistance is futile

Global London firms continue to flourish but can they keep the good times going as the market starts to cool?

Main table

Case study: Sidley

Launching its London practice in the mid-1990s, Sidley has enjoyed an eleven-year streak of revenue increases between 2012 and 2022 after making a strategic decision, in the mid-2010s, to place a greater focus on the private capital sector. Its London financial results for 2022 saw revenue grow 26% from 2021 to $186.6m.

PE lessons: Shearman’s losses and Cravath’s gains show the value of City buyout teams – and the dangers of misfiring

While it may be an oversimplification to say that there has been a certain inevitability to Shearman & Sterling’s decline in recent months, that the firm’s losses should lead to Cravath, Swaine & Moore’s inaugural foray into English law is a coup even the most clued up of pundits could scarcely have foreseen.

Legal 500 data: Global London firms by Legal 500 rankings

The Last Word: London manifesto

To mark the launch of our 2023 Global London analysis, we ask senior figures at leading US firms for a progress report

Sponsored briefing: Extraordinary times

Dominic Griffiths, Mayer Brown’s London managing partner, discusses bolstering the corporate practice and getting the cultural fit right