New York lateral partner market hits three-year high in Q1; Dechert leads gross additions

Macrae's Q1 2026 partner movement data shows New York posted 186 partner moves among Am Law 100 and top-50 UK firms — its strongest opening quarter in three years — led by a near-doubling of Investment Management & Funds activity. Dechert led New York gross additions. London posted 122 partner moves, its lowest Q1 in three years, with Corporate and Finance reaching new Q1 highs despite the aggregate decline. California saw 72 moves, with Corporate drawing level with Litigation at the top of practice-area rankings for the first time in recent years. The divergence across markets — New York surging, London contracting, California shifting toward transactional — reflects distinct economic drivers in each jurisdiction and matters for firms calibrating lateral investment.