Greenberg Traurig Maher makes loss in first full year in City

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  • Presumably the loss was before any partner guarantees paid by the US were taken into account. If that is the case then you are looking at a very much larger number.

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  • Hubris on a grand scale.

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  • No wonder its new partner hires are taking flight so soon after touch down.

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  • The financials quoted in the article are a year old so most the above comments are irrelevant. Leaving that aside, 0-8 million in a year represents the fastest growth rate of any U.S. firm in the city. GTM invested heavily and so always expected to make a return over 3-5 years. It's well on course to do that.

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  • No doubt the US GTM partners are delighted. £3.5m owed to them by a business that made a loss of nearly £1m last year. I wonder if they think that the figures are 'irrelevant' ?

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  • I agree the figure's irrelevant because it's not up to date. Having a discussion on GTM's performance based on these figures is as pointless as having a discussion about Linklaters PEP for 1950 and deducing things about its partner satisfaction today in 2012.

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  • Blame Jeveons.

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  • PR Machine on overdrive.
    The figures may be a year old but it's still a loss. I'm sure that they'll make a profit this year.

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  • GTM's intending to make a return over 3-5 years. That was always the plan and still is.

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  • Was it also the plan to hire a load of partners offloaded by other firms, grow too fast and then down size even faster?

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  • The firm has grown from 0-50 lawyers in 2 and a half years. Over this period, 4 lawyers have been sacked. Forgive me, but where's your evidence for the firm downsizing at a rate faster than it grew?

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  • @ anonymous 10.40pm - isn't that also known as "the Mayer Brown model"?

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  • My, 50 lawyers and that's all you can turnover. No wonder you had to move from the Gherkin to a side street off Holborn somewhere.

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  • do we detect a bit off egg on face here. Publish an article crowing about your results and then as soon as the financially literate point out that the results are c**p you effectively agree by calling them 'irrelevant' since that are 'last years figues' .....................hmmmmm

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  • Anon @ 1.35pm.... in your job as PR person for PM (I assume you moved with him from MB because defensive posts like the 4 or 5 you've made on this story appeared without fail when he was there as well), you really should check all the stories on the Lawyer. The article about the refocusing on corporporate and the jettisoning of the various Birmingham, DCM, restructuring and energy partners (as well as the many CV's floating around the City) all say that GTM is offloading people. Either that or they're all just leaving. Not sure that's a better spot it be in, but would be interested to hear your spin on it.

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  • Whenever an article's published regarding Paul Maher in this magazine or in one of its competitors such as the legal week a group of people seem intent on casting a negative light on him or GTM. This is blindingly obvious to any neutral observer. GTM has been the fasting growing U.S law Firm in London over the last two years in terms of turnover and headcount. It always expected to generate a return over 3-5 years and is on course to do this. GTM has achieved this at a time when most U.S. law firms in London have been rapidly downsizing. Mayer Brown is a prime example of this. Incidentally, there's an article in the legal week that records the same figures but sheds a positive light on the results. Perhaps you should inform yourself by reading 'all the stories' on this subject currently circulating the legal market. All I can assume is you hold a grudge as a result of being sacked or demoted by him whilst he was at Mayer Brown.

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  • What planet does this guy live on ' most US law firms in London have been rapidly down sizing' - utter rubbish.

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  • Im guessing that at anon @13:18 works at GTM..... Obviously high up, amazing tho you dont have courage to put your name to your posts.
    The comments in legal week which cast a positive light are hardly that they are 50/50...4 comments hardly a good statistical basis... and the positive ones of which 1 obviously written by yourself or someone else high in the company and the other is written by someone who thinks that GTM will crack magic circle. I'll leave the readers of this column to decide on if that is a fair comment.
    I wonder how GTM can claim good figures when the loan from the parent company GT has increased by almost 100% and the administration figures appear to be spiralling out of control increasing by nearly 400%. (That is reading all the articles)

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  • All firms receive adverse comment from time to time. Only certain firms feel so insecure that they need to PR Trolls to patrol the comment pages and provide spin. I seem to recall various articles citing departures (after very short tenures) from GTM of various capital markets, energy and restructuring partners. No doubt this is all part of the plan and evidence of how well GTM are doing.

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  • I think there is nothing to worry about. The result Mr. Maher achieved for GTM is phenominal considering the economical disaster spread from one continent to another. Congratulations, Mr. Maher.

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