By James Boxell in new york
Premier New York firm Simpson Thacher & Bartlett has dispelled suggestions that it is considering a European law capacity, in a move that will greatly reassure its UK partner Slaughter and May.
The relationship between Slaughters and its four US allies – Simpson Thacher, Sullivan & Cromwell, Cravath Swaine & Moore and Davis Polk & Wardwell – was thrown into doubt recently after Sullivan & Cromwell took on leading projects partner Jamie Logie from Norton Rose in London.
Simpson Thacher had also made noises about moving into European law at last September's International Bar Association (IBA) conference in Vancouver.
But the firm's chairman of international practice Paul Ford has now said his firm is fully committed to strengthening its ties with European firms.
While Ford said it was not his firm's policy to discuss future plans, he told Legal Week it was setting up more "concrete" relationships in Europe.
Ford said the number of independent firms in Europe was shrinking, which meant it was important for Simpson Thacher "to know who our friends are".
He added that his firm's lack of locally-qualified lawyers was "one possible constraint" but had so far "not been an issue".
"The biggest issue we do wrestle with is where do we find enough US lawyers?" he said, adding that, as the firm had just recorded its best-ever year in terms of profits, it must be getting something right.
But he did not rule out the possibility of a change in direction in the future if clients insisted. "If realities change, we will change," he said.
Fellow Simpson Thacher partner Rhett Brandon, who spent 10 years heading up the firm's London practice, said the impact of Logie's arrival at Sullivan & Cromwell (S&C) was "quite modest".
"S&C has clearly done what they think is right – they ultimately do what the clients want. But this is a very, very small step. It is not an indication that the floodgates are about to open," he said. (See opposite).