US law firm Sullivan & Cromwell is set to double its office space in London as part of a broader expansion of American legal firms in the city's financial district. The New York-founded firm is in advanced talks to lease approximately 150,000 square feet at 75 London Wall, the former headquarters of Deutsche Bank in the City of London. If the agreement goes ahead, Sullivan would occupy floors eight through thirteen, with an annual rent estimated to exceed £150 per square foot.

This move highlights the growing influence of US corporate law firms in London's legal market, particularly in prestigious locations within the Square Mile. Over recent years, firms such as Kirkland & Ellis, Latham & Watkins, and Paul Weiss have expanded their UK footprints, drawing top talent from local competitors and significantly increasing salary levels. Entry-level lawyers in these firms can earn nearly £190,000 annually, with senior partners commanding fees that can exceed £10 million.

Sullivan & Cromwell has bolstered its London presence through a series of high-profile partner hires over the last year, bringing in at least nine partners from other major firms including Kirkland & Ellis and Weil, Gotshal & Manges. The firm’s recruiting efforts have focused on practices such as private equity, mergers and acquisitions, and finance. The expansion is largely driven by the aim to service leading American private equity clients directly in Europe, rather than outsourcing work to local UK firms.

While UK-based firms have experienced partner departures to US rivals, there has also been some reciprocal movement. The competition brought by US law firms is credited with allowing elite UK firms, including members of the so-called "magic circle," to increase their own billing rates.

Sullivan & Cromwell currently has around 30 partners in London and employs more than 1,000 lawyers worldwide. The developer of 75 London Wall declined to comment on the lease discussions, and Sullivan & Cromwell did not respond to requests for comment.