Branch² Intelligence
Magic circle Freshfields ousts equity partners amid US push
Key takeaway
Freshfields ousts equity partners to fund US expansion and boost profitability.
- Step 1Freshfields ousts equity partners to free capital for US expansion.
- Step 2Partner departures reduce UK-facing partner capacity, increasing leverage on remaining partners.
- Step 3US expansion shifts firm focus away from UK mid-market, raising billing rates for UK SMEs.
- Step 4Competitor Magic Circle firms may follow suit, tightening UK legal supply for SMEs.
Source: City A.M.
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