New York-headquartered Proskauer Rose is set to double its office space in London with a move into the Heron Tower from its current base at 10 Bishops Square.
The firm is set to relocate in the New Year to take an 18,000 sq ft lease in the 230 metre skyscraper at 110 Bishopsgate. Fit out works began at the beginning of October.
Recent hires have taken the firm up to 15 partners in London, where the firm launched in 2007. The US firm hired Robert Gaut from Fried, Frank, Harris, Shriver & Jacobson to head up its UK tax practice in January and Steve Davis, a senior M&A partner at King & Wood Mallesons, is set to join the firm in December. Davis led SJ Berwin’s City corporate team before its $1bn Sino-Australian merger last year.
Proskauer Rose has 36 lawyers in the City and recently bolstered its partnership ranks with the promotions of high-yield specialist Max Kirchner and finance lawyer Faisal Ramzan. The firm is targeting further growth in London and the new office space will allow for around 100 lawyers.
Revenue at Proskauer Rose increased by 4% to $768.4m in the last financial year, with profits per equity partner up 5% to $1.95m. Its London office recently acted alongside Osborne Clarke on Spanish plasma therapies company Grifols’ $1.7bn purchase of pharmaceutical giant Novartis’ transfusion diagnostics unit. Allen & Overy acted for the Swiss pharma company.