DAC Beachcroft will be licking its wounds today after an audacious raid by Clyde & Co on the firm’s Madrid office.
The firm will be left with eight partners in Madrid after a team of nine, including four partners, announced that they would be joining their insurance rival.
For Clydes it is the latest in a line of international office openings whereas for DAC Beachcroft Madrid was a jewel in the crown of legacy Davies Arnold Cooper (DAC) – seen as being one of the key attractions for the Beachcroft merger.
Until now the firm has managed to keep hold of the stellar practice, but the offer of working for an international firm with 28 offices – four in the UK – proved just too much for DAC Beachcroft to bear.
It’s a kick in the crown jewels that’s got to hurt.
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