The London profile of Chicago-headquartered firm Katten Muchin Rosenman was lifted significantly during its past financial year when it merged with niche City-based UK hedge funds practice MW Cornish Solicitors in June 2005.

The firm followed the launch with a number of hires, including the appointment of the Bank of America's former assistant general counsel, Jennifer Nye.

The London practice primarily focuses on offering Katten's international and US-based hedge fund, financial intermediaries and exchange clients a European service.

Though a bold move, it is debatable whether it was enough to offset a string of US departures over the period, including nine partners from its Chicago and New York financial services practice who joined Winston & Strawn.

Katten's turnover crept up by just 5 per cent to £212.4m ($386.5m) during 2005, while average profit per equity partner did slightly better, increasing by 9 per cent to £514,000 ($935,000).

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