Ashurst departures continue as Brussels head joins Simmons in double exit
Simmons recruits Ashurst Brussels managing partner for Benelux corporate push
September 22, 2016 at 03:59 AM
5 minute read
The original version of this story was published on Law.com
Simmons & Simmons has recruited two Ashurst lawyers including the beleaguered firm's Brussels managing partner, Carl Meyntjens, as part of a corporate push in the Benelux region.
The move makes Meyntjens the fourth Ashurst office head to quit in recent weeks and the 12th partner exit from the firm to emerge this month.
Meyntjens, who has run Ashurst's Brussels office since 2007 and been a partner at the firm since 1998, will join Simmons as a corporate partner alongside Ashurst counsel Kelly Cherrette, who will retain the same title at Simmons and also sit in the corporate practice.
Simmons, which launched in Brussels in 1964, currently has 15 lawyers based there including eight partners. Its global corporate practice has 60-70 partners.
The pair, who are both members of the Brussels bar, are expected to join Simmons' Brussels office on 1 December.
Meyntjens acts for Belgian and international corporates, private equity funds and financial institutions. Cherrette joined Ashurst in 2002 as an associate and was promoted to counsel in 2010. She specialises in commercial contracts and public-private partnership projects, including related litigation.
Mark Curtis, head of Simmons' international corporate and commercial group, said the firm is looking to bolster its corporate presence in Brussels, where it currently has only one corporate partner.
As part of this, it is looking to hire "a handful" of other corporate and commercial lawyers and partners from firms in Brussels during the coming weeks and months.
He said: "These hires in Brussels are driven by the strength of our Amsterdam and Luxembourg practices, and a desire to see a stronger corporate presence in Benelux. We thought we needed more critical mass in Belgium."
Simmons launched its funds-focused Luxembourg office in January 2015. It currently has three finance partners and one tax partner there. In Amsterdam, the firm has 21 partners including five corporate partners.
Curtis added that the firm is looking to hire "generally" across Europe. "Clearly, because of the Brexit vote, that is driving interest in European hires but not to the detriment of the Middle East and Asia. It is important to get the balance right between the regions."
Ashurst has appointed banking partner Arnaud Wtterwulghe as Brussels managing partner to replace Meyntjens and, separately, appointed competition partner Denis Fosselard in the newly created role of head of Brussels.
A spokesperson said: "Arnaud and Denis will make a very strong management team. The commitment and dedication they will bring to their roles will significantly enhance our business, strengthen our offering and maximise opportunities."
Ashurst has seen a slew of departures in recent weeks. In the past eight days alone, it has emerged that six other partners are leaving or have left, including three other office managing partners (see full list below).
Earlier this summer, Ashurst posted disappointing financial results for 2015-16, with profit per equity partner falling back to a more than 10-year low of £603,000 after two consecutive years of decline, while revenue fell by 10%.
Recently appointed managing partner Paul Jenkins subsequently spoke to Legal Week about his plans to turn the firm around.
Other Ashurst partner exits to emerge so far in 2016
September
Singapore managing partner Shaun Lascelles – understood to be joining Vinson & Elkins London banking partner Nigel Ward – Paul Hastings Hong Kong managing partner Lina Lee – Allen & Overy (A&O) Hong Kong capital markets partner Jonathan Hsui – A&O Hong Kong restructuring partner Bertie Mehigan – Howse Williams Bowers Abu Dhabi managing partner Alastair Holland – Curtis Mallet-Prevost Colt & Mosle London finance partner Michael Smith – Paul Hastings London finance partner Diala Minott – Paul Hastings London finance partner Cameron Saylor – Paul Hastings London regulatory partner Nicola Higgs – Latham & Watkins London energy partner Nicolas Bonnefoy – now managing director at Africa Oil & Gas
August
Hong Kong finance partner Doo-Soon Choi – Mayer Brown JSM
July
London global co-head of financial regulation Rob Moulton – Latham & Watkins London restructuring and insolvency partner Simon Baskerville – Latham & Watkins London restructuring and insolvency partner Diane Roberts – Reed Smith London chief financial officer Brian Dunlop Frankfurt finance partner Tom Beckerhoff – Noerr
June
Singapore managing partner Keith McGuire – PwC Legal Stockholm office managing partner Jon Ericson – Hamilton Stockholm corporate and real estate head Pontus Bergsten – Hamilton Stockholm finance partner Eric Halvarsson – Hamilton Stockholm competition partner Mats Johnsson – Hamilton
May
Frankfurt tax partner Heiko Penndorf – Goodwin London disputes head Mark Clarke – White & Case
April
London financial regulation partner James Perry – Gibson Dunn & Crutcher London capital markets partner Jonathan Parry – White & Case London derivatives and structured products partner Christopher Georgiou – director at Apollo Consultants London labour and insolvency partner Andreas Vogel – consultant London corporate partner Anthony Clare – Stephenson Harwood
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