Bloomberg Law
December 16, 2015, 9:50 PM UTC

Hildebrandt: In 2016, Winning Battle for Laterals Will Be Key

Blake Edwards

Highlighting one way the strained legal market is affecting elite law firms, a report released Wednesday by Citi Private Bank and Hildebrandt Consulting cited the battle for lateral hires as an increasingly significant factor to all firms’ success in 2016.

“There was a time when lateral hiring rarely touched firms at the top,” said Brad Hildebrandt, one of the report’s four principle authors, “but that’s no longer true.”

Today, virtually every firm is hiring laterals or risks losing key partners, according to Hildebrant. In a slow-growing market, the need to generate new sources of income has set off a scramble for high-profile lateral hires, and single lawyers, ...

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