A&O Calls Time On Decade-Long Romania Association
The relationship change means that A&O will no longer have a presence in the Eastern European country.
March 02, 2020 at 07:54 AM
2 minute read
Bucharest, Romania / Photo: Shutterstock.com
Allen & Overy has ended its formal association with the Romanian law firm, Radu Tărăcilă Pădurari Retevoescu SCA (RTPR), nearly 12 years after the two firms entered into an exclusive partnership.
The associated outfit, which was called RTPR Allen & Overy, has six partners as well as 40 associate lawyers and 15 support staff in Bucharest.
The two firms originally entered into an association in 2008, shortly after Romania entered the European Union.
The two firms will now operate a referral relationship, with a spokesperson for A&O stating they will work together on local and international client work as well as collaborate on activities such as training and joint marketing initiatives.
The Romanian firm will operate under its original name of RTPR. A&O will no longer have a presence in the country.
In a statement, a spokesperson for A&O said, "We have made an organisational change to the relationship between Allen & Overy and Radu Tărăcilă Pădurari Retevoescu SCA (RTPR) to align it with other countries where we do not have our own office but work closely with local firms.
"We continue to view Romania as an important market and the strong collaboration between the two firms will continue."
The move leaves Clifford Chance as the only Magic Circle firm to still have a presence in Romania.
In recent years, multiple international firms have reassessed their business operations in the central and eastern European region (CEE).
Most recently, in November Weil Gotshal & Manges spun off its Warsaw office as an independent outfit, having exited Prague and Budapest in 2018. Squire Patton Boggs also shut its Budapest office at the beginning of 2019.
READ MORE:
Global Firms Back Away from Eastern Europe
Weil Bows Out Of Central Europe With Poland Exit
Weil Gotshal closes third office in two years with Prague shuttering
Weil Gotshal to shutter Budapest office as 20-strong team joins Bird & Bird
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