Categories:Europe

Olswang partners to throw cash at overseas network

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  • 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.

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  • 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.

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  • 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.

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  • @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.

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  • 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?

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  • I'm sure that DLA Piper and Baker & McKenzie are terrified at the looming threat.

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  • 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.

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  • 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.

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  • Won't practically every firm in the Top 20 be devoting 10 percent or more of their profits to international expansion?

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