Canadian firm Fasken Martineau has confirmed its London office is under consultation and up to 70 roles could be cut. Legal Business also understands that City office head Gary Howes has resigned.
A spokesperson at the firm confirmed the structural reform comes as the firm aims to target the energy and natural resources sectors, but said the office will not close.
A quick glance at Fasken Martineau’s numbers in the City confirms lawyer headcount has fallen in recent years. Legal Business’ Global London 2015 shows that total fee-earner count was 59 in April, dropping 16% on 2014’s level which counted 70. Partner numbers also declined 26% from 31 heads to 23. In addition, the firm’s position in the Global London rankings has also tumbled from the 19th spot in 2013 down to 26th this year.
Firm managing partner Peter Feldberg said in a statement: ‘We are strongly committed to the continued success of our international clients. This refocusing is consistent with that commitment.
‘As a result the law firm is undertaking consultations concerning up to 70 positions that may be affected by the restructuring.’
While the Canadian-based firm reigns in its London operations, Fasken Martineau formed an alliance last year with top-20 UK firm Simmons & Simmons in a bid to ‘enhance their respective African offerings’. This came after Fasken Martineau merged with local firm Bell Dewar two year earlier to boost the its capabilities in mining infrastructure, energy, project finance, capital markets and M&A work.