Addleshaws' fund-raising work involves Luxembourg in some capacity in about 90percent of its projects, according to the firm
In a move it says will allow it to enhance its fund's finance capabilities across Europe, Law firm Addleshaw Goddard has opened an office in Luxembourg.
Richard Ledain Santiago leads the launch of Addleshaws' new Luxembourg office; he joins the firm after spending four years at UK rival Fieldfisher, where he handled corporate and banking matters.
Additionally, Benjamin Devouassoux, an attorney with experience in banking and finance and Theodoros Karantanos, a legal expert in corporate finance, are moving over from Fieldfisher to join him at the firm as managing associates and counsel, respectively.
In spite of the UK and EU having 17 offices, Addleshaws, with five in continental Europe, said Luxembourg was a logical landing spot for its business because the jurisdiction is such a major business conduit for finance, corporate, real estate and funds transactions originated in the UK and EU.
John Joyce, managing partner of the firm, said that about 90percent of the funds finance work he employs the company does involves Luxembourg funds, managers and administrators, which is why opening an office in Luxembourg is "perfect" for his firm's clients.
In a recent client meeting, he said, "I heard that our clients asked us to have a bigger presence in Europe." "We are considering Luxembourg as our next strategic jurisdiction to focus on, as its reputation as a stable economy and leading centre for financial services institutions is well known."
On top of the foundation Santiago and his "very established" Luxembourg team had laid, Joyce said the firm would work toward growing its Luxembourg roster.
Santiago experience includes advice on private equity, finance, M&A and general corporate matters for both local and international clients and he joined Fieldfisher's Luxembourg office in 2018 from Allen & Overy. In addition to his expertise in aircraft financing, he has experience in real estate and capital market transactions. Addleshaws noted Santiago's cross-sectoral experience aligns well with its main areas of expertise, including energy and infrastructure, aviation, rail and shipping, real estate and financial services.
After merging with Eugene F Collins to add 100 legal professionals and 25 partners to its network in Dublin last month, Addleshaws has launched its Luxembourg operation just over a month after adding a presence in that city.
A report from Global Legal Post's UK law firm results tracker indicates that the firm reported a 23percent growth in profits per equity partner last July, up to £849,000, when revenue increased 12percent to £321m.
This month, White & Case formally opened its Luxembourg office after hiring Luxembourg-based funds expert Arnaud Cagi-Nicolau as a partner from local firm Elvinger Hoss & Prussen.
As a result of Brexit, several US law firms have set up offices in Luxembourg, including Debevoise & Plimpton, K&L Gates and Curtis Mallet-Prevost Colt & Mosle. Goodwin Procter is also opening an office there in the late 2019.