The exodus from German Ernst & Young ally EY Luther Menold shows no sign of slowing after three more partners left to launch a Frankfurt office for Zirngibl Langwieser.
Corporate and M&A specialists Gerald Beyer and Volker Rebmann and finance partner Vinzenz Bödeker will jointly run the new office along with a fourth new hire, real estate partner Jan Rohls from Coudert Brothers.
EY Luther Menold has lost 12 partners this year including its co-managing partner Arno Frings and nearly the whole Munich office to Osborne Clarke and Reed Smith.
Zirngibl partner Thomas Zwissler told The Lawyer that the firm had been looking to open an office in Germany's finance capital for some time. "We took the decision to open in Frankfurt one or two years ago. The office will give us greater marketing power and will enhance the service we give to our banking clients," said Zwissler.
The new office is set to open in October. The firm currently has around 30 lawyers spread over three offices - Berlin, Munich and Vienna.