After Martinis at the top of the Sears Tower in Chicago in 2003, Paul Corren and Per Troen, then partners at Osborne Clarke , decided to go it alone. They opened up their boutique outfit Corren Troen in London and the firm has since grown to 16 fee-earners off the back of their contacts and personalities.
Corren, managing partner and a corporate finance specialist, now views the firm as a “strong UK corporate and commercial house with specialist knowledge of the Nordic region and private clients”.
Senior partner Troen, a Dane by birth but London émigré since 1984, has cultivated much of this focus through his network in the London Nordic expat community.
The firm undertakes around 30 per cent of its work for high-net-worth private clients, around half of whom are Scandinavian, but often corporate and commercial deals also flow out of these relationships.
Two of Corren Troen’s large corporate clients are Danske Bank and Danish shipping conglomerate AP Moller-Maersk Group.
It is an interesting split for a boutique practice. Corren says that in terms of income, around 40 per cent comes out of commercial property work, 30 per cent is pure corporate work and around 30 per cent comes from private client work.
Turnover last year was £1.3m, up from £1m and £800,000 in the two preceding years.
In addition to Corren and Troen, the firm employs two salaried partners, eight associates, two legal executives and two trainees. Recruitment has happened on an ad hoc basis says Troen: “We seldomly advertise, but we find [lawyers] are now knocking on our door.”
He says that many come from big City firms, probably because of a mixture of craving a higher quality of life and the different challenges faced in a firm such as his. Troen adds: “It’s very demanding and exciting to become people’s trusted adviser.”
However, Corren says that he wants the firm to “grow organically”.
Troen agrees, saying: “It’s not a size thing, but a quality thing. It’s important to make the practice more efficient, streamlined and product oriented, but we’re still one family group.”
Managing partner: Paul Corren
Total number of equity partners:
Total number of partners:
Total number of lawyers:
Danske Bank, AP Moller-Maersk Group, Lloyds TSB
Main practice areas:
Property, corporate, commercial, private client
Number of offices: