It had to come. Among the Global London leaders interviewed in last year’s report, there was an inevitable consensus that the frothy post-Covid conditions that created a phenomenally successful 2021 would cool noticeably through 2022 and tougher times would lie ahead. However, while the predictions have been proven correct, the mood among the leading US firms in London is far from pessimistic.
Tamara Box, EMEA managing partner at Reed Smith, says of her own firm’s City office: ‘The mood is positive, not least following on from another strong year for the office in 2022. While we have seen a slowdown in transactional activity, there is still plenty to keep the litigators busy this year. Well-hedged firms are being kept busy advising clients on how to navigate the disruption caused by economic downturn, tremors in the financial markets and the Russia/Ukraine war.’
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