London Firms to Redeploy Lawyers as Markets Shift

January 27, 2008 Allen & Overy is attempting to usher in a new era of flexibility among its lawyers, partly to prepare for fluctuating market conditions, marking the strongest evidence yet that top U.K. law firms are having to adapt to the post-credit crunch environment. Meanwhile, Freshfields Bruckhaus Deringer's newly appointed London head, Tim Jones, is heading an effort to relocate its lawyers, grouping together staff with common interests. The firm is moving its private equity and M&A lawyers closer to acquisition finance, while structured finance will have closer links to debt capital markets. The initiatives by the two firms echo a reorganization of Clifford Chance's practice, which brought several specialist teams into larger practice groups.

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