According to information from The Lawyer Market Intelligence
, it tracked 95 general counsel moves in 2016, a drop of 5% from 100 in the preceding year.
Nonetheless, the information also reveals that there has been a late surge of moves last year due to higher demand for mid-level and interim hires after the Brexit vote was cast.
Recruiters told the publication that in the run-up to the vote, GC moves dropped off.
“Even those going for jobs aren’t actually moving. The only real vacancies coming up have been mid-level,” Liam Taaffe told The Lawyer
The GMK Legal associate director said the situation may not last and noted after noting that there are “loads of interim GC roles on the market” with “quite a few in the retail sector.”
Banking and financial services was the sector that saw the most moves in 2016 as it saw 22 prominent moves in the year. This is less, however, than the 29 recorded by the sector in the previous year. Manufacturing tallied 14 while retail moves totalled nine.
“Most of the roles we have seen available have been from banks,” Rebecca Garland told the publication.
“A lot of insurance and commerce and industry is outside of London so there would be a reverse commute involved, which is a harder sell to candidates,” the Barclay Simpson in-house senior consultant added.
GE builds its own internal ‘Yelp for lawyers’
Ethics and compliance extremely important to CLOs and GCs
The Brexit has caused general counsel in the UK to bide their time moving to other organisations in 2016, new research reveals.