Interesting snapshot from The Lawyer (https://www.thelawyer.com/issues/online-march-2017/brexit-offshore-firms-react-article-50/ ) on how the offshore firms are viewing Brexit.
Opinions vary but most reference the biggest danger being uncertainty and a consequent slowdown in onshore deals emanating from the UK/EU. Equally, however, there is a widespread confidence that the weak pound and cash-rich private equity clients will continue to mitigate this, as has been the case since the referendum. Furthermore, with a large (and increasing) volume of offshore business coming out of the US and particularly Asia the offshore sector is arguably less exposed than some to regional fluctuations. This view is borne out by the consistently high demand for new recruits that we are seeing, and by our conversations with various offshore lawyers who have all been sanguine about their prospects in a post-Brexit market.
One thing is for sure; these firms are no strangers to change. They have proven time and again to be uniquely adaptable in rapidly developing economic and political landscapes and it would take a brave person to bet against them continuing to prosper regardless of the challenges that the Brexit process might bring.
Jason Horobin has specialised in offshore legal recruitment for over sixteen years. Please contact him if you would like to discuss your career options in the offshore legal sector.