Sidley Austin mulls Germany exit following Frankfurt partner losses
Sidley Austin has placed the future of its Frankfurt office under review, following a number of recent partner departures. Among the options being considered by management is the closure of the office and the transfer of clients and referral relationships to a German firm, Legal Week understands.
February 25, 2014 at 05:07 AM
2 minute read
Sidley Austin has put its Frankfurt office under review, following a number of recent partner departures.
The firm's management is mulling the closure of the office and the transfer of clients and referral relationships to a German firm, Legal Week understands.
In a statement, London partner and executive committee member George Petrow said: "We are reviewing a number of alternatives in relation to our four-lawyer Frankfurt office and are seeking the solution which will best serve the interests of our clients and staff."
An exit from Frankfurt would leave the Chicago-headquartered firm without a base in Germany, though Sidley retains European offices in Brussels, London and Geneva.
Capital markets specialist Jens Rinze is currently the firm's only partner in Frankfurt, after the recent departure of tax partner Werner Geisselmeier to Pinsent Masons' Munich office.
Sidley launched in Frankfurt in March 2006, and at its peak counted 20 lawyers in the office.
Since then, the base has shrunk to just four lawyers, with regional managing partner Oliver Kessler leaving in 2012 to set up a Frankfurt office for Oppenhoff & Partner, joined by Sidley corporate partner Jerome Friedrich last summer.
Last year, Shearman & Sterling caused a ripple in the German legal market when it closed its Duesseldorf and Munich offices, a move which resulted in a number of partners – including Duesseldorf senior partner Georg Thoma – relocating to Frankfurt.
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