Brexit uncertainty could create City talent drain

Brexit is likely to discourage star European graduates from studying law in the United Kingdom, a leading City lawyer has warned.

Jonathan Kembery, consultant at Freshfields and chair of the professional rules and regulation committee of the City of London Law Society, spoke at a Solicitors Regulation Authority conference about City firms’ fears of UK talent choosing to work in other jurisdictions as a result of Brexit, the terms of which cast unprecedented uncertainty over the City’s continued pre-eminence. As the Law Gazette reports, Kembery highlighted City firms’ need for clarity and suggested that one measure for the UK government to take is to confirm that it will accede to the Hague Convention after leaving the European Union, to clarify rules on jurisdiction and the recognition and enforcement of judgments.

Kembery commented: “Right now, if you are a lawyer from Poland or Portugal and thinking about the post graduate qualification, do you study English law in the United Kingdom or go to New York to study? You are more than likely to go to the States, which is going to sap our ability to absorb talent - the critical thing our businesses depend upon is getting in talent. The problem is one of uncertainty. Getting through that period as fast as we possibly can is the right way as people are making decisions about their careers.”