Offshore firms are also responding to globalisation by developing a more corporate structure internally. This has included bringing in chief executives from the wider business community and reorganising management structures.
Mourant du Feu & Jeune made a splash last month when it revealed its first externally appointed chief executive was none other than Kroll international general counsel Stephen Ball.
Ball has held senior roles both in-house and in private practice. Prior to joining Kroll, he was Gibson Dunn & Crutcher's UK head of finance and, before that, chief general counsel at Nomura. Ball says of his move to Mourants: "It's a really exciting opportunity. They're a visionary and forward-thinking firm and approach their business in a transparent way."
He is due to take up his post later in the summer.
Conyers has also raided the financial services sector for a new chief executive officer in the form of Sarah Farrington, who joins the Bermuda-headquartered firm from Capital G Bank, where she served as president and chief executive officer.
Conyers also took the opportunity to rejig its management structure. Areas such as marketing, accounting, technology and research are now run by industry professionals, leaving partners to focus on developing client relationships. + continued