‘The global Magic Circle is all American. The reality is that the English Magic Circle are now competing with the next tier down of US firms. So, for a UK Magic Circle firm to merge with a lower tier US firm would likely be accretive.’
So says Charlie Geffen, formerly a partner at Ashurst and Gibson Dunn. He expresses a common pessimism on this side of the pond about the chances of an elite UK and US merger.
