Bird & Bird will no doubt be trembling at the news that tech rival Olswang has opened in Madrid (see story).
The mid-town firm has finally woken up to the fact that clients quite like its lawyers to have coverage beyond London and a couple of Continental outposts (oh, and Reading)
It’s taken Olswang some time to realise it was playing catch-up with much of the legal market and TwoBirds in particular. So fair play to it for going straight to the source and nicking its arch rival’s head of corporate in the city, Javier Vasserot.
The new office, set to open in September, will focus on corporate, banking and restructuring and litigation. Olswang will no doubt be hoping that its 38 per cent profits hike this year (see story) will help it attract the required number of additional partners and associates to staff up.
Thing is, it’s been an open secret for months that what Olswang really wants is to open in Paris. The global business powerhouse that is Madrid hardly fits that particular bill.