Sinclair Roche & Temperley is expanding in Bucharest in spite of Romania's “uncertain” economic conditions.
The City-based firm has taken on four Romanian lawyers to handle an increasing workload and is planning more hires before the end of the year. Banking concessions and property specialist Monica Bena is joining as a senior lawyer and the other three are junior lawyers.
Sinclairs' expansion comes at the same time as Linklaters & Alliance has announced new offices in Romania, Slovakia and Hungary.
But there is evidence that other international firms with a Romanian presence are suffering. Taylor Joynson Garrett is believed to have closed its company and commercial department in the Romanian capital and US firm Altheimer & Gray is also understood to be paring down its operation.
The Sinclair Bucharest office now has 10 lawyers, including two senior UK lawyers and five Romanian qualifieds.
Kevin Dean, head of corporate and commercial practice, says he is currently in talks with lawyers from both local and international firms.
Dean says: “Notwithstanding Romania's uncertain economic position, our Bucharest office has experienced a growing demand for its services and in particular in inward investment.
“We have witnessed particular interest in corporate finance, secured lending and project finance in the utilities sector. For these reasons we have recruited and we are continuing to seek to recruit local lawyers who have specialist skills.”
Romania is set to start talking to EU authorities about accession. While Hungary, the Czech Republic and Poland are set to join in the next round, Romania is among countries likely to join in the second wave.