‘Whilst we’re very much plugged into the global firm and there’s lots of synergies and certainly a very clear industry focus, we have a strong domestic client base.’ Ajay Pathak, Goodwin
As part of our annual Global London report, management at US firms in London give their views on today’s market challenges
Power plays
‘We have made transformative investments in our firm over the past year. We have expanded our geographic reach, invested in our strengths and developed new, critically relevant practice areas, adding transcendently talented new partners to our partnership and marquee clients to our client roster. We will continue to adapt our firm to the new competitive realities of the marketplace.’
Brad Karp, chair, Paul Weiss
Centre stage
‘We’ve been in London for 50 years. London has always been an integral part of our core proposition. We have three major offices, and London is part of our core triumvirate, with New York and Washington DC. I expect it to remain so for both the foreseeable and extended future.’
Ashar Qureshi, London managing partner, Fried Frank
Home grown
‘The bulk of our revenue in London comes from matters originated in London. But we’re an integrated firm – we work with all the other offices in Europe, in the United States, and in Asia too.’
Richard Pollack, London managing partner, Sullivan & Cromwell
Paying dividends
‘We are a long-term investor. We don’t get into anything where we don’t have a commitment to the long term and a belief that it’ll work in the long term. We don’t do speculative things. The things we do, we stick at and continue to make a success of. You can see that in the history of what the London office has gone through – from not being heard of and no-one seeing Latham coming.’
Stephen Kensell, London managing partner, Latham & Watkins
Consistency is key
‘The strategy of the London office mirrors the strategy of the firm, it is absolutely consistent with that. What we are doing in London is the same sort of work for the same sort of clients. London is an integral part of the success of the firm.’
Sebastian Rice, partner in charge of London and Geneva, Akin
Unlocking AI
‘I don’t think we are going to be able to put that genie back in the bottle for sure. There will be some firms that are going to invest a lot of money in it, but the jury is out as to whether every firm will have to invest that type of money or whether it will shake out in a way where costs will decrease dramatically.’
Mary Kuusisto, head of London office, Proskauer
Growth mindset
‘When you look at what is happening in the market, all the top US firms look to be expanding their offering in London. That’s noteworthy and the market share that US firms have keeps growing. That’s the trajectory. I don’t see anything other than that continuing.’
Tom Canning, London co-managing partner, Milbank
Globally integrated
‘A lot of what we do in London is home-grown in that, whilst we’re very much plugged into the global firm and there’s lots of synergies and certainly a very clear industry focus, we have a strong domestic client base. But equally, what we’re seeing is as our platform in the UK is developing and continues to do so, we are well positioned to serve our global clients with their needs.’
Ajay Pathak, co-chair, Goodwin