A&O set for Munich launch with double Shearman hire
Allen & Overy (A&O) is to launch in Munich next month with the hire of Shearman & Sterling's Munich head Gottfried Breuninger and M&A partner Astrid Krueger. The departures will leave the US firm with only two partners in its Munich office and will heighten market speculation about Shearman's German arm, which saw its Mannheim office split away earlier this year (1 May) to set up independently as Schilling Zutt & Anschuetz.The Munich hires also mark A&O's third raid on Shearman's German practice this year as it brought in Shearman's global co-head of M&A, Hans Rolf Koerfer, and M&A partner Birgit Reese for its Duesseldorf office in January and March respectively.
September 17, 2008 at 07:03 AM
2 minute read
Allen & Overy (A&O) is to launch in Munich next month with the hire of Shearman & Sterling's Munich head Gottfried Breuninger and M&A partner Astrid Krueger.
The departures will leave the US firm with only two partners in its Munich office and will heighten market speculation about Shearman's German arm, which saw its Mannheim office split away earlier this year (1 May) to set up independently as Schilling Zutt & Anschuetz.
The Munich hires also mark A&O's third raid on Shearman's German practice this year as it brought in Shearman's global co-head of M&A, Hans Rolf Koerfer, and M&A partner Birgit Reese for its Duesseldorf office in January and March respectively.
The Munich office will give A&O its fifth base in Germany. The firm, which has a presence in Frankfurt and Hamburg, opened in Duesseldorf and Mannheim last year.
Breuninger is also Shearman's German head of tax, as well as global co-head of the tax group. Before joining A&O he headed the Munich office of Shearman for more than three years. He became head of German tax at Shearman in 2002 and co-head of its global tax group last year.
Krueger has been a partner with Shearman since 2006. She specialises in national and cross-border M&A transactions, as well as in corporate restructurings.
Cornelius Fischer-Zernin, senior partner of A&O Germany, said: "The Bavarian state capital is one of the most important locations in the German legal market and is also one of the major European economic centres. A presence on the ground in Munich will enable us to provide an even better service to our clients in the region."
"Breuninger and Krueger enjoy an excellent reputation in Munich and beyond. They form a great start-up team, which I am convinced will prove a real asset to our practice in Germany."
Duesseldorf-based M&A partner Alfred Kossmann will step in as head of Shearman's Munich office, with the firm stating it has a clear commitment to the office going forward.
Reinhard Stockum, managing partner of Shearman's Frankfurt office, will become head of the German tax practice with immediate effect.
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