Hammonds’ Euro vision suffers myopia

Another week, another couple of partners to quit Hammonds. José Rivas and Edward Borovikov are the twelfth and thirteenth partners to leave the firm since June this year and are just the latest in a long line of departures.

But Rivas’s and Borovikov’s departures are different. They are the first partners to quit one of Hammonds’ European offices for several years, prompting speculation in some quarters that the firm’s European network could unravel.

Hammonds’ retention of Brussels head Konstantinos Adamantopoulos after two months of intense talks is a sign that the firm is determined to hang on to Europe – indeed, it expects to promote and recruit more people to replace the departing pair.

However, the losses, following soon after Hammonds’ protracted negotiations with its Italian office, do not augur well for Europe. Managing partner Peter Crossley still has a fight on his hands to bring his firm back onto an even keel.