US firms flex City muscle

The top 30 US firms in London reaped £1.23bn in fees, according to The Lawyer’s US Special Report inside.

The number of London offices that would slot straight in to the UK’s top 100 firms based on revenue continued to grow last year. Only the bottom four – Bingham McCutchen, O’Melveny & Myers, Morrison & Foerster and Covington & Burling – would fail to find a berth in the UK top 100.

The results are an indication both of the stability and maturity of US firms in the City and of the continuing importance of London in many US firms’ strategies.

In one month alone this year three more firms from across the Atlantic opened in London. In February hedge fund specialist Tannenbaum Helpern Syracuse & Hirschtritt launched in the City, opening its first office outside New York.

In the same month Canada’s Fasken Martineau DuMoulin sealed its merger with London-based Stringer Saul, while Heller Ehrman made two audacious raids on WilmerHale, securing four partners.