US firms’ stellar City financials put UK high-fliers in hiring line

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  • LOL - as if Lehmans had never happened!!

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  • We are all in this together austerity Britain! Sacrifice must be made but not by the people who made the deals 'legal'.

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  • Ching ching wid me, I guess.

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  • Who is the city firm expecting a rise of 30% in PEP?

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  • @anonymous: deal lawyers don't make the deals 'legal' per se, they just make sure their clients interests are protected in a private contract, eg if a big issue is uncovered during diligence they ensure suitable price/warranty/indemnity protection in accordance with the balancing position of the parties.

    if these deals should be illegal, blame the government/judges who made the law in the first place. but to suggest that they should strike at the principle of freedom of contract and make such deals illegal? if private parties (inc banks) want to make such a deal, then all lawyers do is facilitate them to do it fairly as between themselves :). public policy does not forbid M&A style activity.

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  • lets not get too carried away. A lot of people who move to US law firms on $$$ fixed term deals are of dubious provenance . Not to say some very good people don't make the move. But much US law firm cheque book recruitment is based on suprisingly flawed diligence.

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  • A lot of people will be wary. The article mentions eg MB and W&C as looking. Any serious player will want to look VERY closely at what is happening at these and other firms and may not like what they see in terms of financial performance, culture and track record locally and offshore. You can have a huge cheque book, but a one or two year guarantee only goes so far.

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