When one door closes, another swings opens – a saying that is perhaps laminated in Brown Rudnick’s boardroom. The US firm has pulled offers from half of the associates set to join the firm in autumn, a move that comes weeks after it announced plans to bolster its London IP team.
Associates in New York and Boston are understood to be the most impacted, with the firm saying in a statement that demand for first year associates had declined in recent years. London, it said, has been outpacing growth in New York and Boston.
So while overall headcount shrinks (offers were pulled from 10 of the 23 associates due to start this year), the firm’s London office is on a hiring spree. The office hired an associate from Latham & Watkins just weeks ago, and at least one IP partner is expected to join the London base in the weeks ahead, filling the gap left by former IP head Georgie Collins.
It is indicative of a wider trend. Back in 2009 many US firms in London found growth hard to come by, compare that with the latest year-end when revenue growth in the City is bigger than that back home.
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