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Identifying and mapping leading financial services regulatory associates

13 Nov 2019

The candidate pool for non-contentious financial services regulatory associates from one of the top 50 UK or top 50 US firms in London is c.300 individuals. The majority of these are focused on non-contentious financial services regulatory work, but c.20% do a mix of contentious and non-contentious matters. The c.300 lawyers break down by post-qualification experience (PQE) as follows:

- 45% are 0-4 PQE

- 20% are 5-7 PQE

- 35% are 8+ PQE

Competition for financial services regulatory hires

Hiring in the financial services regulatory market in 2017 and 2018 was around 30 hires per year.  From January to August 2019 there have been less hires than in the previous two years and unless there is a big surge in the last few months, 2019 will be a quieter year for financial services regulatory recruitment than the previous two years. US firms have been prevalent in the market, making almost 40% of all the hires.  

Profile of candidates hired

From January 2018 to the end of August 2019 there have been just under 50 financial services regulatory hires:

- These have been made by 28 firms, 15 of which were US firms. 

- 37% of hires were at the 0-4 PQE level, 22% at the 5-7 PQE level and 41% at the 8+ level.

- 50% of hires at the 8+ PQE level were made by US firms. 

- Of all the hires made, nearly 25% came from in-house roles at FS institutions.

- Excluding those individuals that have come from overseas or in-house roles, the remaining individuals hired came from six different US firms and 14 different UK International/Global firms.

- Excluding hires from overseas and in-house, there were no obvious moves where an individual was moving to a firm that operated on a lower pay scale. Over 60% moved to firms with higher pay scales.

The above data is taken from Legal Monitor’s global market mapping platform, constantly updated data on more than 220,000 law firm partners and fee earners working for c900 leading global law firms. To arrange a demonstration of the platform, please call David Kekwick on 020 3397 3543 or email [email protected].