The firm, which is not being named, is looking for two corporate lawyers working in the top ten City law firms. ZMB, the legal recruitment consultants which placed the advert, said that competition for a small number of top- flight English lawyers was driving the recruitment programme. ZMB director Andrew Russell said it was so "difficult to get lawyers out of the UK firms and so US firms have to pay that sort of money to extract them."
The salary is further evidence that American firms are stepping up their battle with the English over the domination of the European legal market place. While UK firms are building alliances with German, French, Spanish and Italian law firms, the Americans are opening more offices in London with the sole aim of recruiting English lawyers. Earlier this year another American firm took out the first ever pounds 1 million newspaper advert to woo corporate lawyers.
US firms are regarded as less formal than their British counterparts. Young, high-billing partners are attracted by the "eat what you kill" culture which allows them to be paid on the basis of the fees which they bring in. English firms tend to divide up profits between the partners on the basis of how many years they have worked at the business.Reuse content