Letter from… Frankfurt: Pillars of stone – finding the right mix is tough but global interest in Germany is growing

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Letter from… Frankfurt: Pillars of stone – finding the right mix is tough but global interest in Germany is growing

Two documents outlining the strategies of international firms in Germany came to light between 2016 and 2017. ‘Agenda 2020’ by Latham & Watkins set the goal of becoming the top outfit in the country by its titular date. ‘Germany 2020’ by Freshfields Bruckhaus Deringer, meanwhile, anticipated a reduction of the local partnership of more than 15% over the same time frame.

At first sight, the contrast appears to sum up the growing divide between advancing and retrenching forces in a legal market long torn between a confident wider economic outlook and disappointing returns on investment for global advisers. Continue reading “Letter from… Frankfurt: Pillars of stone – finding the right mix is tough but global interest in Germany is growing”

‘A global solution’: Pinsents hires six partners for Frankfurt launch as DLA expands in Dublin

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‘A global solution’: Pinsents hires six partners for Frankfurt launch as DLA expands in Dublin

Pinsent Masons has hired six partners from a range of firms for a new Frankfurt office, the firm’s third opening in Germany since 2012.

Frankfurt follows moves into Munich and Düsseldorf for Pinsents in 2012 and 2016 respectively. The new office will focus on the technology, energy and real estate sectors initially with an eye to developing in financial services. Continue reading “‘A global solution’: Pinsents hires six partners for Frankfurt launch as DLA expands in Dublin”

Freshfields steps up New Law makeover with Euro services hub and Manchester expansion plans

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Freshfields steps up New Law makeover with Euro services hub and Manchester expansion plans

Freshfields Bruckhaus Deringer is to build on its mass relocation of support roles to the north with the launch of an equivalent hub for continental Europe. The move is also set to usher in a new career track for legal staff and support tech-assisted services, further building on the City giant’s 2015 shake-up, which has already created more than 700 jobs in Manchester.

The latest initiative will see Freshfields launch a new back and middle office centre to cover mainland Europe, with Berlin viewed as the most likely destination. ‘Berlin is the preferred location because it’s a centre for legal tech, and the only European city where there is a real start-up scene,’ Freshfields managing partner Stephan Eilers told Legal Business. Continue reading “Freshfields steps up New Law makeover with Euro services hub and Manchester expansion plans”

Latham continues European assault with Magic Circle hire in Germany while Ropes adds London finance partner from Goldman

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Latham continues European assault with Magic Circle hire in Germany while Ropes adds London finance partner from Goldman

US firms have been busy expanding their European finance ranks this week, with Latham & Watkins scooping yet another Magic Circle partner and Ropes & Gray hiring a leveraged finance partner in London.

In its race to the top of the German legal market, Latham has come back to London’s big four for the third European hire in less than two months. Continue reading “Latham continues European assault with Magic Circle hire in Germany while Ropes adds London finance partner from Goldman”

Revolving doors: Clyde & Co launches in Hamburg with four-partner Ince team

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Revolving doors: Clyde & Co launches in Hamburg with four-partner Ince team

Germany has today (12 February) taken centre stage in the European lateral recruitment market with Clyde & Co announcing the launch of a new office in Hamburg on the back of a four-partner team hire from insurance and shipping rival Ince & Co.

Clyde will be launching its second German office after Düsseldorf later this year, with Ince’s former head of English law Daniel Jones and head of admiralty and energy Eckehard Volz. Continue reading “Revolving doors: Clyde & Co launches in Hamburg with four-partner Ince team”

Letter from… Frankfurt: Where political deadlock is fine for business… but not all lawyers

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Letter from… Frankfurt: Where political deadlock is fine for business… but not all lawyers

What a difference a few hundred miles can make: an election not resulting in a clear majority; a government polling much worse than expected; a leader weakened; and complicated negotiations ahead. In London, such headlines spell uncertainty, prudence, even panic.

While any poll in the UK fills its legal community with trepidation, the Germans reacted to the results of the federal election on 24 September by either stressing that no-one should overestimate the impact of politics on business or by saying it was good news. Says Georg Seyfarth, veteran corporate partner of German blueblood Hengeler Mueller: ‘Building the coalition will be difficult and it will take time. However, eventually we will see a “Jamaica coalition”, which will be good for businesses. The M&A market will not be affected.’ Continue reading “Letter from… Frankfurt: Where political deadlock is fine for business… but not all lawyers”

Market report: Germany – Wennschon, dennschon

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Market report: Germany – Wennschon, dennschon

With Brexit dominating the EU agenda and causing widespread paralysis in the continent, Germany’s law firms are simply going about their business

Turbulence and trauma may have been the global hallmarks of 2016 – at least according to the headline writers – but not so in Germany. For the third year in a row, the German government did not borrow any money, unemployment fell to a 26-year low of 5.8% while GDP grew by 1.9%, the highest rate in five years. Meanwhile, Germany’s trade surplus has hit another record high.

Continue reading “Market report: Germany – Wennschon, dennschon”