Mishcon de Reya has launched in New York with the hire of a team of lawyers from US firm Sheppard Mullin Richter & Hampton.

The surprise move will see a 15-strong team of lawyers and support staff set up shop in the highly competitive New York litigation market, headed up by white collar litigator Jim McGuire.

The move will give Mishcons its first office outside the UK in a bid to take advantage of a recent upturn in global fraud and regulatory work for the firm.

The new office will officially launch tomorrow (19 January) with McGuire as managing partner alongside litigation partners Mark Berube and Tim McCarthy.

Mishcons managing partner Kevin Gold (pictured) said: "We are delighted to have Jim, Mark and Tim leading our New York office. Opening our first international office in one of the major financial centres of the world is an exciting opportunity for both our business and our clients. It is also timely. There has been a rise in the level of regulation globally. A presence in two of the world's leading financial centres is exactly what clients of the expanded firm need."

McGuire – a former partner at White & Case – was the founding partner of Sheppard Mullin's New York office and sat on the firm's executive committee.