Partners and Teams

Recognising that a move as a Partner or as a member of a team requires sensitive and discreet handling, Tully has established a separate division within each of its offices which specialises in Partner and Team movements.

For Partners seeking to move a number of issues have to be addressed:-

• Cultural issues relating to the firm to which a move is to be made and ensuring that the right “fit" exists between the Partner and the new firm
• The handling and disclosure of sensitive information relating to their practice, following and financial performance
• The preparation and release of business plans
• The due diligence on the firm to which a move is to be made
• The negotiation of financial remuneration and equity entitlement
• The handling of a move which involves a number of team members
• The release of details of references and the process of reference checks
• The exit arrangements from the Partners’ existing firm

The Partners and Teams division at Tully is experienced in all of these matters and provides an invaluable resource to a Partner or a team seeking to make a move.

For firms seeking to recruit Partners or teams a number of issues apply:-

• Due diligence with regard to the practice of the proposed lateral hire
• The assessment of financial and other performance indicators
• The assessment of client followings
• The negotiation of the terms upon which a Partner or team will join the practice

The Partners and Teams division at Tully is experienced in acting for firms seeking to identify and recruit the highest quality Partners in the markets in which they operate.

Track Record

Tully has a strong track record of placing Partners and teams in Beijing, Shanghai and Hong Kong. Examples of recent successful high profile placements include:-

• Moved a team consisting of several Partners and senior associates from a global law firm to an international law firm
• Moved a corporate finance Partner with a team consisting of senior and junior associates to a UK firm to set up this practice in Hong Kong
• Placed a high-profile PRC lawyer (senior Partner) from a leading Chinese firm to an international practice as a global senior equity Partner and office managing partner
• Helped a senior US lawyer (equity Partner) move from an international firm to a top Chinese firm as Co-head of International Practice
• Moved two Partners from reputable PRC firms to another leading PRC firm as Senior Counsel and senior Partner
• Assisted a Senior Counsel from a top US firm moving from the US back to Asia as a US Securities Partner at a top UK firm in Hong Kong
• Assisted a Senior Counsel from a Magic Circle firm in securing an equity Partner role in an international law firm
• Moved a US and HK capital markets equity Partner from a top US firm to a white shoe firm as equity Partner
• Assisted an international law firm building up their China Banking & Finance team by hiring two senior banking Counsels from two top US firms
• Moved a senior lawyer from a top investment bank to a top US firm as a Partner