Lovells has lost a five-lawyer banking and finance team, including two partners, from its Berlin office.
Restructuring and leveraged finance specialist Thomas Lindemann and acquisition finance partner Andreas Schwennicke are leaving to set up their own firm.
They take with them three senior associates; Ludwig Moltke, Andreas Conen and Daniel Radig.
It is understood that Lindemann decided to leave after Lovells refused to add further banking and finance partners to the Berlin office. Instead the firm plans to concentrate on its Frankfurt operation. The departures leave Lovells’ Berlin office with five partners.
As first revealed by The Lawyer (13 October), the Frankfurt office was rocked last year by the departure of capital markets head Oliver Kessler and colleague Jens Rinze to Sidley Austin for the launch of its Frankfurt office.
Lovells managing partner David Harris said: “Our focus on international banking work is through strengthening our Frankfurt banking practice. As a result we are disappointed by the Berlin partners’ plans to leave although not altogether surprised.”