Clyde and Co is launching in Madrid with the hire of a four-partner insurance team from DAC Beachcroft's local office, including former Madrid managing partner Ignacio Figuerol.

Members of the nine-lawyer team, including partners Figuerol, Ricardo Garrido, Pablo Guillen and Miguel Relano, have handed in their resignations and are currently discussing their exits from the firm.

Figuerol had led the Madrid office for four years until he was replaced by current managing partner Enrique Gich in May last year.

Although disappointed by the pending departures, DAC Beachcroft reinforced its desire to continue to provide a full service offering in Spain under the leadership of Gich and fellow partners Paulino Fajardo and Pablo Wesolowski. The firm recently strengthened ties in South America and Asia after sealing associations with De La Torre & Monroy and Gan Partnership in Colombia and Malaysia respectively.

For Clydes, the Madrid move further underlines the firm's international intentions since its merger with Barlow Lyde & Gilbert in November 2011.

Earlier this year, Clydes confirmed it was in talks to launch an association with an Indonesian law firm, while last summer it announced it was to set up bases in Sydney and Perth after hiring an eight-strong team from Australia's Allens.

Clydes' senior partner elect James Burns said: "The DAC Beachcroft office in Madrid has had an excellent reputation for many years. We have known and worked with the partners there for a long time and are very pleased that we are now in a position to establish a Madrid presence with lawyers of the calibre of Ignacio, Ricardo, Pablo and Miguel."

DAC Beachcroft managing partner Paul Murray commented:"Although we're obviously disappointed they've made this decision, DAC Beachcroft continues to be the leading insurance practice in Spain.

"DAC Beachcroft's 60-strong team in Madrid will continue to serve its clients across all lines of work and we remain absolutely committed to investing in the development of the Spanish office and continuing to create a Latin American platform."

The news comes after US firm White & Case last month opened an office in Madrid after hiring Latham & Watkins' corporate head in the country, Juan Manuel De Remedios.