Midsized NY Firm Firm Opens Office in Dubai
You do not always have to be a big player to play like the big boys, but the risks are clearly a lot higher. This situatution clearly calls out for a "best friends" approach, even though I wish my many friends at Curtis Mallet the best of luck in their foreign branch office endevors.
Thursday, October 16, 2008
Tuesday, October 14, 2008
Law.com - Allen & Overy Loses Seven-Partner Hong Kong Team to Latham
Law.com - Allen & Overy Loses Seven-Partner Hong Kong Team to Latham
This article is important only because of its scale. A seven partner departure is, in deed, a significant "mobility event." When it happens to a "magic circle" firm, it is even more so.
This article is important only because of its scale. A seven partner departure is, in deed, a significant "mobility event." When it happens to a "magic circle" firm, it is even more so.
Friday, October 10, 2008
Law.com - DLA Piper Launches Joint Agreement With Kuwaiti Firm
Law.com - DLA Piper Launches Joint Agreement With Kuwaiti Firm
It has been a while that there has been some interesting international legal services news in the legal press, probably, because everything seems to be dominated by the current economic situation.
This article is interesting because of the joint venture aspects, which is a variant of the "best friends" approach. Perhaps, current economic conditions dictated this approach as it most probably implies less risk and burden to DLA to partner with a firm that is already established and that has a core base of business that, presumably, complements DLA's business in the region.
It has been a while that there has been some interesting international legal services news in the legal press, probably, because everything seems to be dominated by the current economic situation.
This article is interesting because of the joint venture aspects, which is a variant of the "best friends" approach. Perhaps, current economic conditions dictated this approach as it most probably implies less risk and burden to DLA to partner with a firm that is already established and that has a core base of business that, presumably, complements DLA's business in the region.
Thursday, October 2, 2008
Law.com - The 2008 Global 100: The English Advantage
Law.com - The 2008 Global 100: The English Advantage
I have a strong bias towards a well developed and maintained "Best Friends" network, either ad hoc or formal, such as Lex Mundi to which my firm belongs. This article certainly challenges that view. Notably, success from foreign branch offices comes from strong investment, strong management, and strong controls. So, I guess that, if a firm is willing to do those things, it can achieve superior performance. However, there is still the mobility issue. If a regional economy is lagging, a firm with a presence there will have to be diligent about adjusting quickly so that the presence does not become a serious economic burden. For the moment, it looks as if the Magic Circle firms have guessed right about where the big revenues will come from. However, the market is dynamic, and it will be interesting how long the current configuration will be sustainable and what will have to happen when, as will be inevitable, the current offices face hard times to prevent a serious drag on the firm as a whole.
I have a strong bias towards a well developed and maintained "Best Friends" network, either ad hoc or formal, such as Lex Mundi to which my firm belongs. This article certainly challenges that view. Notably, success from foreign branch offices comes from strong investment, strong management, and strong controls. So, I guess that, if a firm is willing to do those things, it can achieve superior performance. However, there is still the mobility issue. If a regional economy is lagging, a firm with a presence there will have to be diligent about adjusting quickly so that the presence does not become a serious economic burden. For the moment, it looks as if the Magic Circle firms have guessed right about where the big revenues will come from. However, the market is dynamic, and it will be interesting how long the current configuration will be sustainable and what will have to happen when, as will be inevitable, the current offices face hard times to prevent a serious drag on the firm as a whole.
Wednesday, October 1, 2008
Boutique Opens in DC With Hire of International Securities Expert
Boutique Opens in DC With Hire of International Securities Expert
This is another transaction that is similar to the Edwards Angell transaction just commented on. It might have been interesting to have been a fly on the wall during the negotiations. Usually, the move is to a bigger firm because of the availability of more resources. Maybe, smaller is better in some circles. I tend to think that is right when you want to have a specialized practice.
This is another transaction that is similar to the Edwards Angell transaction just commented on. It might have been interesting to have been a fly on the wall during the negotiations. Usually, the move is to a bigger firm because of the availability of more resources. Maybe, smaller is better in some circles. I tend to think that is right when you want to have a specialized practice.
Longtime Partner's Start-Up Offers US Firm Hong Kong Presence
Longtime Partner's Start-Up Offers US Firm Hong Kong Presence
There has to be more to this story than what is written in this article. Otherwise, Edwards Angell must have been desperate to have a presence in Hong Kong.
There has to be more to this story than what is written in this article. Otherwise, Edwards Angell must have been desperate to have a presence in Hong Kong.
NY Partner Leads MegaFirm Expansion in Latin America
NY Partner Leads MegaFirm Expansion in Latin America
With all the problems in the US financial sector, news about international matters has been a bit slow of late. Here is one that is very interesting, because, of late, the focus has been elsewhere than on Brazil and Latin America. The quote about the move being client driven is curious. Is there another reason to open a foreign branch office?
With all the problems in the US financial sector, news about international matters has been a bit slow of late. Here is one that is very interesting, because, of late, the focus has been elsewhere than on Brazil and Latin America. The quote about the move being client driven is curious. Is there another reason to open a foreign branch office?
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