Despite recession, McGuireWoods expands into London
The recession isn't affecting 900-lawyer McGuireWoods, which just entered the London market by acquiring a firm there.
McGuireWoods has announced plans to acquire the law firm Grundberg Mocatta Rakison (GMR) in London. The combined firm will be called McGuireWoods. The merger becomes effectiveg on May 1, 2009, marking McGuire’s first foray into the London market. The firm has existing international offices in Kazakhstan and Brussels.
Grundberg Mocatta has 36 lawyers, who will become the 18th office of McGuireWoods.
The acquisition will allow the McGuireWoods to offer GMR’s existing international client base its capabilities to handle matters in the US where McGuireWoods has offices. McGuireWoods’ clients will also have access to GMR’s international network.
Anders Grundberg, senior partner and founder of GMR, will assume the title of managing partner of the McGuireWoods London office, and under the terms of the agreement, McGuireWoods will expand its Board of Partners to include Robert Rakison, a partner with GMR. In addition, select partners in London will become part of McGuireWoods’ committee structure. Former McGuireWoods managing partner Bill Strickland will divide his time between the London and Brussels offices; and Peter Covington, vice chairman of McGuireWoods, will relocate to London. In addition, Walter White, Jr. of GMR will head the emerging markets practice and maintain offices in London and Washington, D.C.
Richard Cullen, Chairman of McGuireWoods, said, “We have sought to expand our overseas reach with a London office for some time. We are very fortunate not only to gain as partners such a talented group of internationally respected attorneys, but also to join forces with a firm that shares our values.”
“We are delighted to partner with a strong and well-respected firm like McGuireWoods,” said Grundberg. “We already work with lawyers at the firm on a number of matters. ... We feel that this is the ideal time to combine our talents...to prepare the groundwork for when the financial markets return to strength.”
