Chicago firm Peterson & Ross has chosen London for the location of its first international office.
The office, which is a multinational partnership, is located on Lime Street in the City, and will be headed by partner Michael Skrbic who has joined the firm from McKenna & Co's Hong Kong office, where he had been an insurance partner since 1994.
Peterson & Ross currently has 110 lawyers in seven offices around the US and specialises in insurance. Its work involves insurance law, claims, transactions and litigation.
Chair of the firm, Ted Boundas, said: “We're very excited about this opportunity because we are now mirroring what the insurance industry is doing in terms of setting up strategic service locations. We now have broad insurance knowledge together with the local resources that give clients comfort.”
Petersons has represented clients in London, including Lloyds, for nearly 20 years.
John Black, a partner based in Chicago who regularly travels to London, said: “We were always involved in the London market, but with US lawyers travelling there. When multi-national partnerships came into being earlier this year, we were ready to move forward and open a formal office.”
He confirmed that the firm would be looking to expand in London and recruit more lawyers. It is also looking at exploring opportunities in other jurisdictions, particularly Asia.
Skrbic said he had decided to return to London when Peterson got in touch. He had dealt with Petersons on litigation in Hong Kong and “they asked me if I would head up the office”.
According to Skrbic, the firm had identified “a client need for representation regarding the practice of English law. We will develop the office in response.”