Well done Europe. Despite the best efforts of Tiger, Corey, Phil and Co on the last day the Americans have been sent back to the old US of A with their tails between their legs, and with their luggage allocation slightly lighter to the tune of 4lbs of Ryder Cup which will be staying this side of the Atlantic for the next 2 years.
Monday at VG Charles Towers was spent with half an eye on the developments at Celtic Manor as the singles swung blue to red and back again (or blue and bluer and bluer again where Ian Poulter was involved.) Admittedly at around 2:30pm things were starting to look slightly ropey (‘squeaky bum time’ as Sir Alex Ferguson so famously refers to such occasions) but a solid tee shot on the 17th followed by a less than convincing American short game and the cup was secured. In fairness it was always going to happen; after all, it’s not the first time that victory in Europe has been secured by a team under a man known as Monty.
Whilst the Americans may have departed Europe they have still left behind numerous establishments of American origin; IBM, Apple, Ford, Microsoft, Boeing, and even McDonalds are all a large part of day-to-day life for the average Brit, and in the professional services sector this influence is only increasing.
Where some American firms have taken the plunge and opened offices in Britain themselves the in-vogue option at the moment would appear to be the merger or strategic alliance. With Denton Wilde Sapte now being SNR Denton, Proskauer Rose and SJ Berwin in talks and a link up between Hammonds and Squire Sanders & Dempsey imminent this tactic shows no signs of slowing down.
As covered in an earlier blog (http://vgcharles.blogspot.com/2010/06/to-merge-or-not-to-merge.html) firms of all sizes have been examining whether domestic mergers represent a good business move, admittedly some more vociferously than others. For mid-to-large-sized firms this can be to bolster their presence in terms of location and/or particular areas of specialism; for smaller firms it can simply be a matter of survival as the pressures of increased professional indemnity insurance premiums and reduced economies of scale start to bite.
For those large enough to be looking at international tie-ups though it is unlikely that the benefit of reduced insurance premiums is the driving force behind the move. Instead the opportunity to ally themselves with a practice which has an established presence in a new territory may be the main appeal; for others a merger with a firm which shares a particular strength can lead to establishing a world-leading brand in this field. Of course the potential increase in PEP certainly doesn’t harm the process either.....
From the recruitment point of view there is a certain prestige generally attached to working for an American firm, and it is not lost on soon-to-merge practices that they may be in a position to attract high calibre individuals who previously would have regarded them as a sideways move at best. Similarly firms which may have held the upper hand in certain locations by being the only truly international practice in town now may have to worry about staff retention, as a competitor on their doorstep becomes a more attractive option than previously may have been the case.
Whilst the American firms may arrive with much fanfare and hype (a little like their golfers) the success of the merger will always rely on the practice having the gravitas and reputation to attract the best talent to their brand; although the firm may be American the lawyers employed in the UK will be largely British and making sure that those lawyers can buy into the ethos will be the crucial aspect. Otherwise the union may only prove as successful as your average Hollywood marriage, and quickly the American firm may disappear back across the pond under a cloud of disappointment, just like.........oh, fill in your own Ryder Cup joke here, you get the thread by now.
Have you always harboured an ambition to join an American practice, and would be keen to find out more about opportunities at such firms? Call one of our specialist recruiters on 020 7649 9094/0121 233 5000 to discuss your requirements or visit our website www.vgcharles.com