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Given the number of high profile pre-pack sales that have arisen across commercial and PI firms in the region one might be forgiven for thinking that it is all doom and gloom and that there may be no opportunities out in the market. Are there any law firm’s still recruiting?
The truth is that in most cases the drivers arising from the need to consider insolvency events within law firms are not solely down to the economic downturn and a lack of work. More often than not it is a cumulative effect of circumstances the coming together of which place an irrecoverable strain on the business. It is rarely the case that such firms have no work or clients but that other factors have meant it is just not enough to sustain the business in its current shape.
Whist one might reflect on the savvy moves of those that have acquired firms in such circumstances, it is also important to recognise the significance of such acquisitions and the relative strength that it shows behind the law firms that do so.
That strength is more of a reflection of the true position of law firms in Manchester and the city remains a key player in providing legal services locally, nationally and internationally.
So, are firms hiring?
The simple answer is yes. There remains balanced caution but there has been notable improvements in key areas such as corporate, banking and commercial property which remain a good litmus test of the state of the market as a whole.
Some of the moves that I have made at a senior level within corporate and employment have also been of what may be termed “speculatively” i.e. law firms have recruited without prior budget or a defined role being in existence. Followings and clients have not been a pre-requisite of those moves but rather the teams themselves had recognised the skills of the candidates and their potential fit within the existing team structure. Such moves are a far cry from two or three years ago.
Law firms remain attracted to talent and good people and there is certainly more confidence among my clients and an appetite to grow. Do not fear the market, talk to us. We will give you an honest appraisal for your discipline and level and highlight any gaps and opportunities that we consider to be realistic and worthwhile pursuing.
For more information please contact BCL Legal.