Protracted arguments over Brexit have led a divided Britain to the point of exhaustion. In the months leading up to the June 2016 referendum, offshore firms were concerned about the potential impact of a ‘Yes’ vote – although perhaps less so than some of their onshore counterparts. Even before the financial crisis, there had been a continued diversification by larger firms in the major offshore jurisdictions away from a reliance on the UK economy.
Since the referendum, offshore firms in the British Crown Dependencies and Overseas Territories have been dealing with the problems of continued uncertainty that Brexit has created for their clients and advising them in relation to investment opportunities that may arise once it is eventually resolved. Continue reading “Offshore: Deal or no deal?”
Baker McKenzie is pushing on with its profitability drive having picked Buenos Aires for its fourth business service centre some five months after putting an estimated 350 London-based support staff under consultation.
On the other side of the Pacific in an unusually expansive move, Cooley has today (12 March) confirmed it will open in Hong Kong after hiring Skadden Arps Slate Meagher & Flom’s corporate partner Will Cai. Continue reading “International round-up: Bakers launches fourth low-cost hub in Argentina as Cooley targets capital markets with Hong Kong office”
Remember the days when Russia was the El Dorado of the Western legal elite? Potent New York outfits like Cleary Gottlieb Steen & Hamilton and Skadden, Arps, Slate, Meagher & Flom forged hugely lucrative businesses catering to Russian clients, while oligarchs and their top-dollar disputes were regulars in London’s commercial courts.
Just half a decade on and those days seem a distant memory. Chat informally with local partners and, once you get past the party line about it not being so bad, it is clear they are spending increasing chunks of their working lives merely trying to stay in the game. Continue reading “Letter from… Moscow: Apocalypse now beckons as sanctions and turmoil batter foreign lawyers in Russia”