Dechert is to open in Dublin with the hire of partner Declan O'Sullivan from Irish firm William Fry.

The new office will focus on investment funds, investment managers and other fund service providers, becoming the first transatlantic funds practice in the region.

O'Sullivan (pictured) previously led the alternative investment practice at Irish firm William Fry and will head up the practice alongside three financial service associates.

Peter Astleford, the co-head of Dechert's global financial services and investment funds practice, said: "Many billions of dollars are invested annually in investment funds and each fund must make complex decisions about where to locate based on tax, regulatory, market and structural considerations.

"With our deep resources and extensive experience evaluating the interplay of these factors across key global centres, we can help clients make such decisions with speed, economy and confidence."

O'Sullivan specialises in the establishment and authorisation of investment funds, hedge funds, property funds and private equity fund products for domestic and international clients.

Dechert also this month unveiled this month a new dual leadership structure for the firm as chairman and CEO Barton Winokur prepares to step down after 15 years at the helm.

Litigator Andrew Levander has been named chairman-elect, and will fully assume the role of chair next year, while private equity group head and vice chairman Daniel O'Donnell has been named CEO-elect.