De Pardieu and A&O abandon talks
France
January 21, 1999 at 08:27 AM
2 minute read
Paris firm De Pardieu Brocas Maffei & Associes this week put an end to months of speculation that had linked it with Allen & Overy, by confirming that talks between the two firms were over.
The talks apparently came to an end when Allen & Overy recruited two capital markets partners and a taxation partner from its previous French ally, Gide Loyrette Nouel.
Allen & Overy senior partner Bill Tudor John said his firm had decided on a strategy of organic growth rather than merger in France, while a spokesman said the discussions with De Pardieu
had only ever been at a very preliminary stage.
Senior French lawyers are deeply concerned by the tendency of UK firms to cherrypick the best talent from Paris' leading firms, rather than maintaining or building firm-wide relationships.
Gide senior partner Xavier de Roux has described the trend as alarming.
Gide has suffered particularly badly at the hands of UK firms. Earlier this month Freshfields hired competition specialist Jacques-Philippe Gunther as a partner.
In October the firm lost a team of leading mergers and acquisitions lawyers to a second UK firm, Linklaters & Alliance.
One leading French partner said that long-established French firms were finding it extremely difficult to keep their best people from being attracted by the big-paying UK firms.
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