Baker & McKenzie has lost its role as global legal adviser to British automotive group McLaren, which has opted for fellow Global 100 firm Norton Rose Fulbright (NRF).
NRF will work closely with McLaren’s in-house legal team, providing services on corporate and M&A work, as well as contractual, IP, real estate and employment law. The firm has also formed a corporate partnership with the McLaren Mercedes Formula 1 team, although the firm refused to comment on how much this tie-up would cost the firm.
Baker & McKenzie has advised McLaren since the 1980s, with annual legal fees said to be worth around £1m.
NRF’s appointment as advisor to McLaren Group covers McLaren Racing and McLaren Applied Technologies and excludes McLaren Automotive.
NRF’s global chief executive Peter Martyr described it as an ‘exciting partnership’ and by becoming a ‘corporate partner and providing worldwide legal services to McLaren Group, we aim to reinforce the importance that we place on our people’s commitment to teamwork and excellence. We have already committed to developing a joint CSR project.’
McLaren Group’s group legal director Timothy Murnane said: ‘We see Norton Rose Fulbright as one of the leading global legal practices, combining a lengthy history with an appetite for change and a pursuit of excellence which resonates with our own corporate ideals. Our unique partnership will bring together two highly respected global businesses with the potential to achieve great things together.’
Sarah.downey@legalease.co.uk
