Attracting individual lawyers and their teams is becoming a preferred method of growth than mergers, according to Malcolm McPherson, senior partner of HBJ Gately in Scotland. He said: ‘We find that lateral hire [the tactic of luring rival staff into a firm] is an easier way to grow than mergers. Encouraging teams to come here and having a strong financial model is part of that. Of course, other firms are also looking at that model.’
Salary levels
The market is growing so well that it is harder for some firms to find enough staff to do the work than it is for them to pick up new business. In this climate, salaries for trained staff are on the rise. Source: The Scotsman
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