Exclusive: Greenberg hires Maher to build '21st century firm'
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US giant in retreat from Olswang alliance as it launches in London with former Mayer Brown star
Paul Maher
Former Mayer Brown co-vice chairman Paul Maher is joining US giant Greenberg Traurig to launch its London operation, Greenberg Traurig Maher.
The corporate lawyer will become chairman of London and co-chair of Greenberg’s global M&A practice. He will be joined by former London Mayer Brown partners Fiona Adams and Cate Sharp.
Maher told The Lawyer: “We believe we can assemble a high-quality team with intense client focus.
“It’s a very ambitious strategy, but it can be done. We want to build a transactional team.”
Greenberg is the tenth-largest firm in the US, with a revenue of $1.2bn (£720m) in 2008 and an average profit per equity partner of $1.31m. It has one of the most extensive domestic networks of any US firm with 32 offices in North America and has recently embarked on a hiring spree, bringing in more than 30 partners since 1 January 2009.
As part of its London launch, Greenberg Traurig Maher will also investigate radical alternatives to current law firm structures. It is understood that the new firm will be structured to take advantage of external investment opportunities in the UK legal market in the future, should they be needed.
Maher said: “It’s a good time to come into the market and push back some of the boundaries. The pricing model has to change. Clients are pretty unhappy paying large sums of money for junior lawyers who are being educated on the job. We want to put together a 21st century law firm.”
Maher’s future has become the focus of intense speculation since his departure from Mayer Brown last month. He is known to have been courted by a variety of firms.
Greenberg’s move heralds a retreat from its relationship with Olswang, its current UK alliance partner.
Greenberg chief executive Richard Rosenbaum told The Lawyer that the firm would continue to work with Olswang when clients required, but added:
“How we’ll work together in the future hasn’t been determined.”
Rosenbaum stressed that Greenberg was committing considerable resources to the launch.
“London is a market that, as a brand, we haven’t really entered - we’ve relied on our relationships with others in the past,” he said. “We want to make the statement that this is a UK firm, not a satellite or branch office of some US firm, so with Paul’s name being incorporated it makes that statement.”
Greenberg’s move will make London its third European office, following its launches in Amsterdam and Zurich in 2003.
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Readers' comments (43)
Anonymous | 15-Jun-2009 6:36 pm
to 5:33. 2009. It's not that hard to google 'mayer brown law firm of the year'
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monika | 15-Jun-2009 6:38 pm
I would have heralded an international alliance with Salans as Greenberg's next move in Europe instead. It might be too late for that now since Pinsents seized the moment, or is Greenberg still pursuing the idea? Not that I loved Maher less, but that I loved Paris more!
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Anonymous | 16-Jun-2009 9:49 am
If People want to live their lives in the 1980's then let it be but Mayer Brown has been outshined by Greenberg in the last 30 years: look at the facts.
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Anonymous | 16-Jun-2009 9:58 am
Leaving Mayer Brown and Greenberg aside for a moment everyone on this blog is forgetting one crucial aspect of the deal in question: Maher and Greenberg are establishing a new LLP; a new firm. Whilst Greenberg’s growth has been nothing short of magnificent over the last 20 years the core of the new firm is Paul Maher. Paul is a man with a highly respected reputation in London; a reputation that he will exported with him. This is what matters.
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Anonymous | 16-Jun-2009 12:33 pm
With all due respect, but your cover today claims that Mr. Maher is Mayer Brown's "best known partner"!!?? Really? No doubt I am not well-enough plugged in, but I think you are betraying a clear London-centric bias, which may be inapprorpiatee when discussing a U.S.-based law firm. I, for one, have never heard of Mr. Maher (nor has he ever heard of me no doubt, so that is not at all meant as any kind of a put down of Mr. Maher whatsoever). I have, however, heard of Joel Williamson in Chicago, who has handled many of the largest U.S. tax litigations (involving literally billions), and Debra de Hoyos, an ex-Managing Partner.
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Anonymous | 16-Jun-2009 12:40 pm
No, I think we're all forgetting that this Maher dude is no Boardman or Cheyne. Nor is he a Knowles or an Angel. Neither is he ever likely to be. He's more of a randon dude from a 4th tier firm who doesn't even register on most radars except for the fact he annoys some people.
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Anonymous | 16-Jun-2009 1:00 pm
I'm from London, and I'd never heard of this guy until he recently parted ways with his firm. I suppose it's big news because he was management.
I'm thinking this bruhaha is the equivalent of people getting worked up over an election for a district school board vacancy in Iowa: compared to a presidential election, for example.
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Anonymous | 16-Jun-2009 2:36 pm
I will be glad when this guy settles in to his new role with this random firm so I can stop looking at his picture and reading boring stories about his career everytime open The Lawyer.
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a joke | 16-Jun-2009 4:52 pm
Very funny, no one’s ever heard of him but he sits on the front cover of the lawyer every other week, has a 25 million pound client base and a $1.2bn dollar firm changing their name to accommodate his. Sorry but once again the facts work against most the arguments on these blogs.
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Facts | 17-Jun-2009 10:31 am
Maher does not have a £25m, £20m or any other laughably over inflated number for a practice. He has been running around the globe the last few years trying to mould Mayer Brown into his image and has been doing very little billable work. Even in his hey day when some mid-tier corporates (all of which no longer exists due to takevoers - which he didn't work on...) used him for mid-tier work, it would more like £3m. No disgrace, mind you, but all these hysterical claims of £20m followings are ridiculous. An internationally unknown US law firm with a relationship with that other heavy hitter, Olswangs, has hired him and let him carry his name. Big Deal.
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