US firms fish for partners

A US firm is headhunting three City partners to lead phase two of its expansion in the capital. The firm is building off-shore funds, corporate finance and capital markets divisions.

An advert from an anonymous firm published last week was looking to poach entire teams from UK top 20 firms.

City speculation suggests international practice Coudert Brothers is behind the advert.

According to another advert on the same day, an unnamed US firm wants four partners from UK firms to start a new London office with property finance, corporate commercial and insurance practices, and is luring candidates with salary offers of up to u400,000.

One City partner has already agreed to lead the new London arm, says the advert.

It is believed that nine City lawyers are to join Sidley & Austin by mid-Autumn. The firm announced in late July its intention to expand in London.