BAKER & McKenzie, the world’s largest law firm by revenue, is to open a new office in Luxembourg in a move that sees it take over a local 15-lawyer practice and five tax specialists from accountants Ernst & Young (E&Y).
As part of the new launch, Bakers has acquired local law firm Findling Collin Fessmann, including key partners Jean-Francois Findling, Raphael Collin and Laurent Fessmann. In an unusual move for a law firm, Bakers has also poached a team of five tax specialist from E&Y led by Andre Pesch.
Findling and Pesch will lead the new office, which will predominantly focus on advising funds on tax, corporate and finance related matters.
“We’ve been in Europe for more than 50 years now but it has become increasingly obvious that we’ve needed to be in Luxembourg to fully respond to our clients’ needs,” said James Burdett, who leads the City funds practice at Bakers.
Burdett said the new office will link back to the City as an increasing number of funds are looking to register in Luxembourg.