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The Rise of a New Market Sector - Boutique Litigation Firms

11/12/2015

The rise of boutique dispute resolution firms in the elite litigation market has been a constant theme in the City legal market over recent years.  An increasing number of boutiques are being established by groups of big-name partners from top-tier firms who have decided that it would be more lucrative and efficient to operate independently from a large and overarching brand and structure.

This has been further highlighted by Three Crowns’ reaching Magic Circle levels of PEP barely a year after its inception.  Behind the success of these recently established boutiques are some notable themes.  Firstly, the increase in high-value class action claims being brought against the banks, has led to a new market sector of conflict-free firms that are able to represent the claimants in these cases, given that the traditional firms are either acting for the banks, or conflicted out of acting against them. The second factor is the belief, proven by Three Crowns’ success, that clients at the elite-end of the market form relationships with individuals rather than law firm brands and are therefore more willing to follow partners to boutique firms.

Whilst the status of the English courts as a dispute resolution hub has allowed certain boutiques such as Signature Litigation and Enyo Law to expand and adopt an international focus from their London headquarters, other boutiques have taken a different approach.  Three Crowns and Joseph Hage Aaronson have already established a US presence whilst more mature US-headquartered boutiques such as Quinn Emanuel and Kobre & Kim have aimed to mirror global law firms and cultivated numerous international offices. 

What is clear is that boutique dispute resolution firms, when led by established figures in the market, are an expanding and deeply profitable model that have made their mark and are here to stay.

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