Capital Markets · speciality monitor

Equity Offerings & IPOs: lateral monitor

Lawyers whose work centers on Equity Offerings & IPOs and who changed firm over the last 12 months, set against the Capital Markets practice and the market.

Hire legal talent Partner recruiting
01 The numbers

The last 12 months: November 2025 to October 2026

235
Lateral moves, 12 monthsNovember 2025 to October 2026
-5.1%
Year on yearSettled 12-month windows
36.6%
Partner share of moves
113
Firms that hired
02 Reading the data

What the data show

In the Sartori & Partners lateral record, 235 lawyers joined a new firm in Equity Offerings & IPOs from November 2025 to October 2026. On settled windows the count went from 253 to 240 (-5.1%), a change inside the noise of the two counts, so we read it as flat.

Equity Offerings & IPOs against Capital Markets and the market
MeasureHereCapital MarketsMarket
Partner share of moves36.6%31.5%27.7%
Counsel share of moves12.3%11.5%12.7%
Associate share of moves51.1%56.5%58.5%
Moved up a level14.9%15.1%12.9%
Changed city22.7%23.8%20.5%
Hired by firms of 1,000+ lawyers65.8%69.1%53.6%
Year on yearflat (-5.1%)flat (+6.7%)rose (+9.0%)

12 months to October 2026 unless the row says three years; a row switches to three years for every column when this page's 12-month value is not published. A dash is a value we do not publish. Flat means a change under 5% or inside the noise of the two counts.

Against the Capital Markets practice as a whole, the widest gap is the associate share, which is lower here: 51.1% against 56.5%. Year on year it moved with the Capital Markets practice as a whole: both flat.

Equity Offerings & IPOs: lateral moves by year

2026 runs to October.

Over the three years to October 2026, 697 lawyers moved in Equity Offerings & IPOs, 269 of them partners (38.6%). They joined 203 different firms. 13.2% stepped up a level on the move and 21.1% changed city, against 12.3% and 21.6% across the market over the same three years. 69.3% came from firms with 1,000+ lawyers.

Moves by month
3222
Nov 24Oct 25Oct 26

Latest: 22 in Sep 26

Show the numbers
MonthValue
Jan 2527
Feb 2530
Apr 2525
Jun 2523
Jul 2525
Sep 2532
Oct 2523
Jan 2627
Apr 2623
Jun 2623
Aug 2624
Sep 2622

The newest months read low: start dates are confirmed with a delay.

This is a partner market: 36.6% of movers were partners, against 27.7% market-wide. On settled windows partner moves alone went from 105 to 86 (-18.1%), a change inside the noise of the two counts, so we read it as flat. A step up in title came with 14.9% of moves (market 12.9%).

113 firms hired at least one lateral in Equity Offerings & IPOs in the window. Ten firms account for 29.9% of arrivals, against 12.9% across the market: moderately concentrated. Latham & Watkins ranks first by lateral arrivals, in the 11-20 band.

Destination cities, share of moves, 12 months

New York ranks first among destination cities with 26.8% of arrivals, followed by London (9.4%). 22.7% of movers also changed city, against 20.5% market-wide.

There were 206 open roles in Equity Offerings & IPOs on law-firm career pages on November 11, 2026.

With volume in Equity Offerings & IPOs holding level, a hire depends on a specific reason to move, which a firm has to put in front of the candidate.

03 Firms

Firms by rank and band

Each firm appears as a rank and a band, never an exact count, and only with at least 10 moves in the window.

Firms ranked by lateral arrivals, 12 months
RankFirmMoves (band)
1Latham & Watkins11-20
2Greenberg Traurig6-10
3White & Case6-10
4Cooley6-10
5Sidley Austin6-10
6Jones Day6-10
7DLA Piper3-5
8Paul Hastings3-5
9Baker McKenzie3-5
10Norton Rose Fulbright3-5
Firms ranked by partner arrivals, three years to October 2026
RankFirmMoves (band)
1Paul Hastings11-20
2White & Case6-10
3Baker McKenzie6-10
4Dentons6-10
5Sidley Austin6-10
6Paul, Weiss, Rifkind, Wharton & Garrison3-5
7Hogan Lovells Cadwalader3-5
8Reed Smith3-5
9Mintz, Levin, Cohn, Ferris, Glovsky and Popeo3-5
10Norton Rose Fulbright3-5
04 Demand

Deals in Equity Offerings & IPOs

Sartori & Partners data count 4,206 dated deals in Equity Offerings & IPOs in the 12 months to October 2026 and 11,313 over the three years to October 2026.

Capital markets work is involved in 98.5% of them and Banking & lending in 0.6%.

By client industry, Pharma & Biotech comes first with 22.5%.

Latham & Watkins ranks first among advising firms over the period, in the 701-1200 band.

Share of deals involving each deal type, three years to October 2026
Share of deals involving each client industry, three years to October 2026
Advising firms ranked by deals, three years to October 2026
RankFirmDeals (band)
1Latham & Watkins701-1200
2Davis Polk & Wardwell701-1200
3Ellenoff Grossman & Schole401-700
4Cooley401-700
5Sichenzia Ross Ference Carmel251-400
6Goodwin Procter251-400
7Loeb & Loeb251-400
8Paul Hastings251-400
9DLA Piper251-400
10White & Case251-400
05 Promotions

Time to partner in Equity Offerings & IPOs

82 lawyers were promoted to partner in Equity Offerings & IPOs in the 12 months to May 2026, 411 over five years, according to Sartori & Partners data.

The median time from first year of practice to partner is 10.0 years, with the middle half between 9.0 years and 12.0 years, against a market median of 10.0 years. 81.3% made partner within 12 years.

These figures rest on 305 promotions.

Years from first year of practice to partner
06 Explore

Related monitors and reports

Hiring in this market

Reports

  • IPO Lawyers and the Life Sciences Issuer: 22.5% of Equity Offerings

    Pharma and biotech companies are 22.5% of the equity offerings law firms advised over 3 years, 2.4 times the share of banks. The lawyers who run those deals are hired in New York, at an index of 181 against the market, and their number has not grown.

    November 11, 2026 · November 2026

Edition November 2026. Window: November 2025 to October 2026. Source: Sartori & Partners, from public law-firm announcements, firm websites and professional profiles, checked monthly. Methodology. Spot an error? [email protected].

For law firm leaders

Planning a partner hire in this market?

We run retained partner searches using the same data behind this page.