Where (and Why) Law Firm Lateral Partner Activity Is Surging

The largest firms in the biggest cities have been “picking their heads up” again on the lateral market, and they are seeing opportunities in corporate, finance, white-collar and investment management and funds work.

Each of those practice areas saw a significant increase of lateral moves during the first half of this year relative to last, according to industry data published this week by legal recruiting firm Macrae, with large group acquisitions, an election-year flood of government lawyers, and expected interest-rate cuts among some of the variables, recruiters and industry observers say.

The number of corporate partners making lateral moves increased from 41 to 48 in Q1 and Q2, according to the the report, which tracks laterals among Am Law 50 and Magic City firms in New York, London, Washington, D.C., and the Bay Area. That’s a 17% increase. 

Investment management/funds work laterals jumped from 14 to 38 (171%) across those markets; white-collar moves increased from six to 13 (117%) and finance partner laterals increased 38%, from 47 to 65. 

Overall, lateral moves increased 9% in the first half of 2024, Macrae found.

Are you interested in learning more about where and why firm lateral partner activity is surging? Read more in this law.com article.