Salans has launched a capital markets practice in Poland, raiding Clifford Chance’s Warsaw office for four senior lawyers.
The loss of the four lawyers has prompted a rethink of Clifford Chance’s strategy regarding debt capital markets in Poland.
Clifford Chance Poland finance partner Jan Zdzienicki said: “This is an area where we’re reconsidering how to position ourselves. Within the debt markets we’ll look closer into more sophisticated and structured products.”
He added that the firm is looking to hire a team of senior lawyers in this area.
Senior associates Marcin Bartczak and Robert Dulewicz will join Salans as partners, bringing with them associates Marek Trzos and Michal Smiechowski.
Bartczak and Dulewicz will lead the new practice. Bartczak’s practice focuses on derivatives transactions, while Dulewicz concentrates on securities, banking and foreign exchange deals.
Zdzienicki commented: “What they said is that they wanted a new challenge and a new environment.”
Salans has also lured in-houser Marek Milwicz from Poland’s Kredyt Bank.
The firm has a strong presence across Central and Eastern Europe.
Salans managing partner Stephen Finch said: “I think we have a prominent position in the market there. We do capital markets work in Poland, but this gives us a good platform for us to expand on.”