CC eyes Indian market with Amarchand hire

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  • Good work CC

    Hahaa, good work CC! All thats left with the Indian firm is baby partners. Maybe this will teach them to respect people who work for them. Indian firms need to develop their people management skills and realise that they dont own people. All these firms are owed by families with 3 generations working and owning virtually all the equity, so maybe its time to change? All these blackmail tactics 'you poach from us, we wont allow your firms in India' dont work after a point.

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  • Indian Firms

    If the standard of drafting in the Indian legal world is represented by your post above, then I can see why India has adopted such a protectionist approach. The international elite will show Indian firms up as being nothing more than high-street practitioners who are out of their depth in today's globalised business community.

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  • Indian firms

    Well said nonny mus, with experience I can say that it is not a good practice to designate anyone as a partner. This forces the truly deserving ones to find their worth elsewhere.
    Question is will this start a trend? and if the magic circle already develop India expertise sitting abroad, why will they be desperate for the Indian market to open up?

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  • Wah wah!

    Congrats to Guptan and CC on a good and strategic move.

    Just thinking out aloud here:

    I don’t know about how worried CC will be about the ‘distrust’ that their action has caused in Amarchand or to the ‘senior partners’ in Amarchand or for that matter, Indian law firms generally.

    I do know that while some senior partners of Indian law firms may have taken to picking up phones and yelling at partners in International law firms for ‘poaching’ their associates, asking them to withdraw offers to such associates and threatening not to deal with such international law firms in the past: (1) deal flow was never affected; (2) the departure of associates has not ceased; (3) India practice groups of foreign law firms are doing better than ever; and (4) at the end of the day, there is precious little that local law firms can do to worry a law firm which has revenues nearing US$ 2.5 billion. So, ‘go fry an egg’ is all that I have to say about that.

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  • Wah wah! (2)

    I wonder if the blame for Indian lawyers leaving Indian law firms in droves is attributable to law firms being run like personal fiefdoms in India instead of somehow to international firms offering a professional atmosphere and a pleasant alternative to what most law firms in India are - the 'family' (or to be fair, the single owner in some cases) gets the lion's share of the equity, special treatment, generally treat other partners and associates terribly and finally, appoint family in turn to continue to run the firm.

    Why would any self respecting individual, who has other options, continue to work in such a firm unless he or she has to? Add to this the generally dismal approach to client management, to enabling associates to develop their careers, a non professional work environment and it is no surprise that associates and partners who can, elect to leave.

    Make no mistake, the apparent uproar that there is in the Indian legal community about liberalisation of the legal services industry and entry of foreign law firms is attributable almost entirely to the owners of existing law firms in India. They make ridiculous arguments about limitations on partnership numbers (has this stopped Indian law firms from growing beyond 20 partners – no!), limits on advertising (shortly to be eased (finally)) and ‘law being a just / noble profession’ (which is an assertion so ridiculous and irrelevant to the argument, it does not even merit any text in brackets!) to essentially perpetuate their ridiculous monopoly. This medieval guild like stranglehold over the legal market must give way to a free trade consistent approach!

    Law students, young graduates, associates and even regular partners in existing law firms would likely welcome liberalisation of the legal services industry and the entry of foreign law firms in to India and frankly, God knows, many secretly hope to make exactly the same move that Guptan has today!

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  • Pls summrise

    plz smmrze...yawn

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  • Does it really work?

    After watching several unhappy Indian laterals leave my previous firm I'm not convinced that this model (of hiring lateral Indian qualified lawyers) is going to be effective. I'm not entirely sure if the firms that do this are hoping to (i) get instructed to advise on Indian law or (ii) just want to win more international work from Indian corporates. David Dunnigan's comments imply (i). However, there are plenty of firms in India which offer Indian law advice at much cheaper rates than the top City firms. Indian clients will simply not want to pay UK rates for Indian legal advice. As a means of winning international work from Indian corporates, I doubt CC needs to enhance it's credentials in India as an international firm by hiring Indian lawyers. This could be a mistake for both CC and the new hire.

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  • A summary today

    Lazy arent we? He says that Indian law firms suck and treat really smart Indian associates really badly which is why Indian lawyers leave Indian law firms for Intl. law firms. Kapish?

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  • Maybe it does

    Any law firm in the world is going to be cheaper to hire than a decent UK based law firm. But thats not the point or the correct comparison to make. CC in an East European country will not, rack rates notwithstanding, be able to or need to charge as much as CC in London. Jurisidiction specific pricing and pay is an integral part of the business. So, the question is, how would the CC India practice based in Singapore or in India charge Indian clients? With the better Indian law firms charging a broad blended of between US$ 300 - 450, I strongly suspect that the price difference between top rung Indian law firms and international law firms with teams based out of Singapore or India will not be much. The question Associate should therefore ask is: Will Indian clients be happy to pay International law firms the same or marginally more than they pay top Indian law firms for Indian advice, assuming of course, that International law firms are permitted to issue such advice? There is no question of paying UK rates.

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  • wake up call

    this should just be another wake up call for firms like Amarchand in India. Look at the number of foreign law firms recruiting directly from elite national law schools in India: A&O, CC, Simmons & Simmons, Linklaters, SJ Berwin, HerbertSmith, CMS Cameron Mckenna and a lot others, now make regular visits to India to recruit from law schools.
    So its simple, either firms like Amarchand change and start respecting their talent both in terms of money and HR or this trend would just continue, may be even more vigorously.

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