After struggling in New York for years, the magic circle has at last gained some traction. But have London firms downgraded their brand in the US in order to upgrade their profits? By DAVID ROBINSON
Paul Wickes, a 59-year-old bankruptcy litigation specialist, was among four partners who quit Shearman & Sterling to join Linklaters New York in the summer of 2003. He joined an office bereft of direction, low on morale, haemorrhaging partners and losing money.
Within a year he was appointed New York managing partner, the third person to hold the role in little over 12 months. Under his command, the New York office has more than doubled in size to over 130 lawyers, including 29 partners and the firm now boasts a New York turnover of $100 million.
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