PRELIMINARY NOTICE
Day One barometer of partners and associates' moves in law firms in the Frecnh market is updated with public information published in the press (La Lettre des Juristes d'Affaires, les Echos, La Tribune, Option Finance).


NUMBER OF MOVES
Partners' moves from one firm to another one in France have increased by 37% to-date in 2007 compared to the same period in 2006.

• Number of partners walkouts between January and August 2007 is 57 up by 27% compared to January-August 2006.

• Number of new partners originating from other law firms in France between January and August 2007 is 96 up by 46% compared to the same period in 2006.

RATIO WALKOUTS / NEWCOMERS
This ratio indicates the number of partners coming into a firm per one partner leaving the firm.
This ratio has been calculated for Bigs and French, US, UK firms in the French market.
It has to be mentioned that, in some cases, a leaving partner can be replaced by promoting a lawyer within the firm.

Over the first 8 months of 2007, trend has been changing in the French market in terms of ratios, depending on firm's "nationality".

Over the first 8 months of 2006, one major trend could be seen:

• The replacement rate for a leaving partner by an “outside” partner was quite the same no matter firm’s “nationality”. For 1 partner leaving a French firm, a US firm, a UK firm or a Big, respectively 1.2, 1.4, 1.7 and 1.5 partners were coming in from another firm.

In 2007, market has been changing and 4 main trends can be seen:

• Fewer partners are leaving French firms while many more partners have been recruited from other firms compared to January-August 2006. Therefore, the replacement ratio has been multiplied by 2 in 2007 reaching up to 2.4 from 1.2 in 2006.

• UK firms have been facing a huge increase in partners’ walking out in 2007 up by 80% from 2006 while number of partners arriving from another firm has decreased by 24%. Thus the ratio has naturally gone down by 0.7% which means that 1 leaving partner is not numerically replaced by a partner from “outside”. However it may, among numerous assumptions, mean that internal promotion has been prevailing in UK firms over the last 8 months.

• The number of partners arriving from other firms to “Big” firms has strongly increased in 2007 so that the ratio is 2.5 for the first 8 months of the year.

• The number of partners arriving from other firms to US firms has doubled lifting the ratio up to 1.8 in 2007 from 1.4 in 2006. One explanation might be the attraction of US law firms for partners of other firms in the French market (French, UK or Big).

MOVES BY TECHNICAL EXPERTISE
Over the first 8 months of 2007, moves mainly involve partners in the field of :

• coporate law

• litigation / arbitration

• finance law

• tax