News Europe Law firms Olswang partners to throw cash at overseas network By The Lawyer 30 January 2011 00:00 17 December 2015 15:31 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Anonymous 31 January 2011 at 10:34 10 per cent of annual net profits? Considering how small Olswang is, that should give them a credible global network sometime around the year 2100. Reply Link Hamish 31 January 2011 at 12:10 Firms with very little previous international presence to speak of are increasingly opening up shop abroad. Nabarro has already gone down this route, as have Wragges and BLP. Unless you’re a high quality focused practice of the likes of Travers or Slaughters the pressure to invest overseas will be irresistible. Reply Link Stephen Pipes 31 January 2011 at 13:11 What really puzzles me is why firms like Olswang don’t simply merge with overseas firms. Far quicker and far cheaper. The world is not going to sit and wait while the likes of Olswang spend decades organically growing . Their window of opportunity is rapidly closing. Oh I forgot, because the partners want to maintain complete control of their little patch, rather than acting in the best interests of the business. Reply Link Anon 31 January 2011 at 13:28 @Hamish | 31-Jan-2011 12:10 pm – You’re rather optimistic in comparing Travers Smith with Slaughter and May, since Slaughter and May: (i) has a PEP which is more than twice as high; (ii) has a turnover which is more than four times as high; and (iii) has a well developed best friends network which could in time easily be merged into a single firm. Reply Link Star Wars Kid 31 January 2011 at 13:35 Just did the sums (based on Lawyer 100 data), 10% of profits per equity partner (with 60 equity partners on £420k each on average) would be approx £2.5m in the ‘international war chest’ per year. So, the next question is: What can you buy abroad for £2.5m? Possible answers include: – guaranteed pay for one year for one equity partner from a good Italian law firm. – one empty office in Frankfurt for about 10 people. (N.B. people not included.) – a round the world cruise for the entire partnership. er….running out of ideas now. How about just spend it on a great party? Reply Link DIREKTOR 31 January 2011 at 14:59 I’m sure that DLA Piper and Baker & McKenzie are terrified at the looming threat. Reply Link Future gazing 31 January 2011 at 15:45 The year is 2150. Mankind has merged with machine. The colonisation of the galaxy is well advanced. And Olswang are about to open an office in Paris. Reply Link Anonymous 31 January 2011 at 16:17 Had a look at Olswang’s website. Still looks like Real Estate is centre stage to me – front page mention, lots of new content in the deeper pages with some good deals backing that all up. Reply Link Stating the obvious 1 February 2011 at 17:02 Won’t practically every firm in the Top 20 be devoting 10 percent or more of their profits to international expansion? Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.