There is little doubt that Ashurst has been one of the worst-affected City players since the 2008-09 recession. The firm has been further weighed down in recent years by a protracted round of partner exits and a continued struggle to build upon the sizeable US structured finance practice it acquired in 2009.
As such, much has been riding on Ashurst’s ability to rapidly reposition itself as a credible global challenger, in particular in the context of its ambitions to build up its Asia network. To that end, the firm had two achievements during 2011-12.
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