Top law firms poach rivals as demand for legal services soars after pandemic

Top law firms poach rivals as demand for legal services soars

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Major law firms are poaching partners from rival firms who can call on their respective teams and deliver from the start. Law firms have seen a lot of business in the post-pandemic recovery era, especially in mergers and acquisitions, banking, finance, resolution and regulatory advisory roles . Many firms found themselves short of manpower to deal with the new business reality, a situation that resulted in the poaching of star lawyers from competing firms.

“It’s the start of a generational shift where we’re going to see more teams move to companies where their managing partner or founders are at their peak and the profit sharing and governance structure is more focused on the system than on personality,” Aneesh Patnaik, head of litigation and practice acquisition at Vahura, a legal research and advisory firm, told the Economic Times.

The top five firms hire between 500 and 1,000 lawyers each; however, the next segment of firms are also aggressively hiring to reach a critical size of over 200 lawyers.

In July, Bobby Chandoke and Sudhir Sharma, senior partners at law firm L&L Partners, along with their team of 19 partners and a total of 63 lawyers joined DSK Legal’s New Delhi office. DSK Legal, headquartered in Mumbai, has also hired three partners from the law firm Dua & Associates in Bengaluru along with their respective teams.

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