MORE than one new partner in five appointed by a crop of leading law firms this year are based overseas.
Some sources believe the figure reflects a trend in which UK firms are trying to open up fresh markets by expanding abroad. In the latest batch of appointments, eight firms have announced 81 new partners, including 17 in foreign offices.
One senior partner says: “There are great opportunities in these markets and firms are trying to take advantage.”
The biggest intake is 15 at Clifford Chance. Eight of the newcomers are based in London, two in Hong Kong, two in Madrid, and one in each of Milan, Paris and Hungary.
Freshfields has made 14 appointments, 10 in London, and one in each of Paris, Madrid, Singapore and Hong Kong.
Herbert Smith included two in Hong Kong and one in Brussels among its 14 promotions. The rest, in London, cover international and finance, projects, pensions and trusts and litigation work.
But 11 of Allen & Overy's 12-strong intake are in the City. Five specialise in banking, four in corporate, and one in each of litigation and international capital markets. The last is a Paris-based banking specialist.
Nine lawyers are joining the Nabarro Nathanson partnership.
Leeds-based Booth & Co, and Ashurst Morris Crisp each have six new partners, and Lovell White Durrant has five – three in London, one in Brussels and one in Prague.