Allen & Overy (A&O) has become the latest law firm to announce a launch in Istanbul, with London banking partner Charles Lindsay set to relocate to Turkey to head up the new office.

The office will focus on providing English law advice on project finance, capital markets, general lending and M&A, with A&O stating that its motivation for the move was to capitalise on the Turkish Government's privatisation programme and its demand for new infrastructure.

City senior associate Karen Lee will also move to Istanbul, where she will focus on building up the firm's local capital markets practice, while Seyda Duman, a banking associate in London and a fluent Turkish speaker, will also join the team in Istanbul.

The magic circle firm has previously advised on a series of international bond issues by Turkish banks, including Akbank, Isbank, Garantibank and Turk Exim Bank.

A&O managing partner Wim Dejonghe commented: "Turkey is a market that we have been watching for some time. Turkey's strong economy, extensive privatisation programme, pressing demand for infrastructure investment and emerging status as an energy hub, present an immense opportunity for both A&O and our clients."

He added: "We see significant opportunities to build on the work we already do in Turkey for clients in our core areas of expertise such as project finance, capital markets, general lending and M&A. Having someone of Charles's calibre and experience to lead the team will ensure we get our new office off to the very best start possible."

The news comes shortly after Baker & McKenzie made a similar move in Istanbul, with the firm's new office set to operate in co-operation with local firm Esin Attorney Partnership to comply with local Bar rules.