Lovells has signalled its commitment to the US after signing up for new premises in New York a move that will give it 67 per cent more space.
The City firm last week signed a lease for 60,000sq ft at 590 Madison Avenue, the 43-storey former IBM building. Lovells currently occupies 36,000sq ft in two separate locations next to the General Electric Building and the Citicorp Center on Third Avenue.
The relocation, which is expected to be completed next March, will bring New York workers under one roof.
Lovells managing partner David Harris told The Lawyer that the firm’s New York office, which was launched in 1977, has been successful and that the firm is looking at expanding the office in a number of areas – most notably dispute resolution and insurance/ reinsurance.
Lovells is the latest City firm to increase its office space in New York. Earlier this year Linklaters doubled its office space to create room for 200 lawyers. The magic circle firm agreed to take on two extra floors of the Alliance Capital Building at 1,345 Avenue of the Americas, in addition to the two it currently has in the regions.
The move will extend Linklaters’ Manhattan premises from 79,000sq ft to almost 160,000sq ft.