US firm Holme Roberts & Owen has launched its multinational partnership (MNP) by luring corporate finance partner Michael Prosser from Clyde & Co.
The Colorado-based firm told The Lawyer last year that it would become an MNP and begin recruiting UK partners to meet the needs of its US clients in international transactions (8 November 1999).
The firm already has UK and German qualified lawyers working in its London office, but Prosser is the first non-US lawyer to be accepted into the partnership.
Prosser spent 12 years as a partner at Simmons & Simmons before joining Clyde & Co in 1998. He set up Simmons' New York office in 1990 and managed it for four years before returning to London.
He says: "I have known Holme Roberts & Owen for a number of years, and the firm indicated to me in a number of conversations that it wanted to set up an MNP. I knew it did a lot of telecoms work and things went from there.
"Most of my work since I came back from New York in 1994 has been for US clients."
Prosser decided to leave Clyde & Co after only 18 months because of the attraction of working at Holme Roberts, whose Denver base is a hot spot for new technology and communications companies.
Holme Roberts London managing partner Bruce Kohler says: "Telecommunications and technology businesses, which form a core part of our portfolio in London and the US, are rapidly internationalising.
"An MNP allows us to match our services to their changing needs. Having spent four years in New York means Michael is familiar with the US market."
Holme Roberts' London office has been open for nearly 10 years and has 13 resident lawyers including US, UK and German qualifieds. Three more UK lawyers will join the firm at its new Savile Row premises soon.