Why US firms are still winning the talent battle in London

Headhunter Scott Gibson returns to the podcast for a wide-ranging conversation on what’s going on in the London partner market. As co-founder of Edwards Gibson, Scott tracks every major partner move in the City and has one of the clearest views of how the market is moving beneath the surface.

We discuss why partner movement remains near record levels despite a tougher economic backdrop, the continued influence of US firms in London, and how areas like private capital, infrastructure and real estate are driving demand. Scott also explains why mergers create far more disruption than firms like to admit, and why that often leads to opportunities elsewhere in the market.

The conversation also dives into the changing economics of partnership itself. Scott breaks down the rise of non-equity partnership structures, why UK firms face a “home turf disadvantage” against US rivals, and how compensation systems are evolving as firms compete for rainmakers.

We also talk about whether partnership is still as attractive as it once was, what top firms are really looking for when they hire laterals, and why law firms today may be more fragile than many lawyers realise.

The Non-Billable Podcast is sponsored by Legora. To find out more about Legora, visit: https://legora.com/

Today’s episode is also supported by Definely. To find out more about Definely, visit: https://www.definely.com/nonbillable

Chapters

00:01 Introduction

02:26 The London partner recruitment market explained

04:21 Why partner moves hit record highs in 2025

08:17 The hottest practice areas in Big Law right now

11:37 Will restructuring finally boom in London?

14:41 Are Magic Circle firms fighting back against US rivals?

21:30 What law firms really want from lateral partner hires

27:06 The rise of non-equity partnership in Big Law

45:44 Which recent law firm mergers will actually work

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