Milbank boosts position in London market via deal with boutique firm
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New York law giant Milbank has poached almost 30 lawyers from boutique law firm Dickson Minto after snapping up its highly coveted City-based private equity division.
The deal will see seven partners and 20 associates from Dickson Minto’s City offices join Milbank’s 140 lawyer-strong London team.
Scottish corporate law firm Dickson Minto currently has its headquarters in Edinburgh and a private equity division in the City.
Milbank’s acquisition comes as the US law firm pushes forwards with efforts to bolster its private equity offerings, in a bid to capitalise on the boom in PE deals.
Highly profitable US law firms have increasingly come to dominate London’s legal market, in offering bumper pay packets to UK lawyers.
The shift has seen the US’ top firms seize ground in areas that were once the domain of Britain’s elite ‘Magic Circle’ firms.