Linklaters' Swedish arm shrinks further as office head departs
Linklaters' former Stockholm head, Joergen Durban, is set to leave the firm in November, as it emerges that the magic circle firm's Swedish partnership has shrunk by more than a fifth since its original merger with Lagerloef & Leman in 2001. Durban, who has been with Linklaters and legacy firm Lagerloef for 23 years, headed the office until September last year when Peter Hoegstroem took up the reigns.
June 12, 2008 at 12:17 AM
3 minute read
Linklaters' former Stockholm head, Joergen Durban (pictured), is set to leave the firm in November, as it emerges that the magic circle firm's Swedish partnership has shrunk by more than a fifth since its original merger with Lagerloef & Leman in 2001.
Durban, who has been with Linklaters and legacy firm Lagerloef for 23 years, headed the office until September last year when Peter Hoegstroem took up the reigns.
His departure will take Linklaters' Stockholm office down to 18 partners compared with 25 at the time of the merger.
Durban told Legal Week: "I have achieved what I wanted at Linklaters; it is time for me to do something else. I hope I have added to the meaningful development of the legal market in Stockholm."
Per Nyberg took over from Joergen Durban as head of banking and finance in Linklaters' Stockholm office in spring 2007.
Commenting on the departure, a partner at a rival Nordic firm said: "Linklaters has downsized its partnership significantly since the original merger with Lagerloef & Leman and very few of the original partners are still with the firm."
Linklaters' stance contrasts sharply with that of top 10 City firm Ashurst, which has grown its lawyer count in the country by 75% since its 2007 merger with Swedish firm AJB Bergh. The firm now has 35 lawyers compared with 20 at the time of the merger and is planning to add more.
It comes as statistics from Mergermarket and Finnish firm Roschier show the Nordic region taking a growing share of international deals. It now claims 15% of European private equity deals, with Stockholm grabbing a growing proportion of international arbitration work. According to the statistics, around 25% of arbitration through the International Court of Arbitration now goes through the Swedish capital.
Roschier entered the Stockholm disputes sector in April, with the firm bagging litigation partner Claes Lundblad from Mannheimer Swartling to head the new group, which launched three years after the opening of its Stockholm office.
Separately, Finnish firm Castren & Snellman has lost private equity head Samuli Palin and a team of four senior lawyers to smaller rival Krogerius. The high-profile departure has been watched with interest in the Nordic legal market, where lateral moves are becoming increasingly commonplace as firms adapt to the international climate.
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