US firm Weil Gotshal & Manges is opening an office in Frankfurt to broaden its global capital markets capacity.
Weil Gotshal & Manges plans to open the German office later this summer with three lawyers who have been headhunted.
Two partners are understood to have resigned from their current positions, and the third is thought to have agreed to move but has yet to inform the practice he is leaving.
The firm refused to comment on the identities of the three.
Although Weil Gotshal & Manges’ head office in New York refused to comment, Mike Francies, head of the firm’s UK office, confirms that Weil Gotshal & Manges is opening an office in Germany.
Francies says: “We are opening an office but are finalising the details. All I can say is it that will be in Frankfurt in June or July and it will be fully functional from day one.”
He adds: “If you are going to be a major international firm you must have a major capital markets capacity. We need to be in Germany.”
Sources say that the firm has yet to sign a lease on the property it intends to set up in but that this will happen imminently.
Weil Gotshal & Manges also has international offices in Brussels, Prague, Budapest and Warsaw.
The decision to open a Frankfurt office comes just three months after the recruitment of a top European partner, who was brought in to found a German desk at Weil Gotshal & Manges’ London office (The Lawyer, 17 January).
Geza Toth, a cross-border mergers and acquisitions expert, moved to Weil Gotshal & Manges’ London office from the Hamburg practice of Feddersen Laule Scherzberg & Ohle Hansen Ewerwahn Finkelnburg & Clemm.
The appointment broadened Weil Gotshal & Manges’ European remit and was its first step into the German market.