Talent war fuels second exodus at top law firms

India's legal landscape is being rocked by a second wave of senior lawyer exits from established law firms in under a year, fuelled by an intensifying battle for market share.

- Devina Sengupta & Krishna Yadav

India's legal landscape is being rocked by a second wave of senior lawyer exits from established law firms in under a year, fuelled by an intensifying battle for market share. The development comes against the looming prospect of foreign competition and a surge in corporate legal activity, with the aggressive poaching triggering a significant reshuffle of the legal elite.

Over the past six to seven months, leading law firms Cyril Amarchand Mangaldas, JSA Advocates & Solicitors, Trilegal, Indus Law, and Argus Partners have scooped up senior partners and their teams by offering a larger share of the firms' revenues, better designations, and a higher compensation.

"There has been a marked increase in mid-to senior-level hiring across law firms that want to increase bench strength for corporate and specialist areas driven by the economy," said Lee Ignatius, co-founder of Vahura, a search and advisory firm focused on legal and governance functions. "Firms are constantly on the lookout for opportunistic and entrepreneurial talent with an existing book of clients that can add more leverage to their client wallet and mindshare."