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Ashurst has revealed plans to expand its offices throughout Europe and Asia in a bid to increase the amount of work generated outside London.
Ashurst senior partner Geoffrey Green told The Lawyer that the firm hoped its international offices would eventually generate one-third of the total workload of the firm. Its international offices currently create around 28 per cent.
"If you look at where the partnership has grown the most during the past five years, it's been outside London," he said. "It's no real surprise that the growth will continue outside London, because prior to that we were under-represented in Europe and Asia."
The firm is set to boost the corporate, finance and private equity departments in both Germany and France. The recruitment drive is also expected to extend to Ashurst's Tokyo office.
Green said the firm had hired headhunters to recruit new partners in Paris, Frankfurt and Munich following a series of raids by US firms such as Latham & Watkins.
"Corporate, leveraged and structured finance and private equity are growing areas and internationally transportable," he said. "We have a good critical mass in France, Italy and Spain, but we'd consider taking on good people if the opportunity arose.
"Our offices are well positioned in Germany, but we need to grow more."