Now the dust is settling and the race for his crown has begun, another question remains to be answered: what is going to happen to Jonathan Goldstein’s extraordinarily remunerative client relationships?Some of the top names in property have featured in Olswang‘s bills over the years thanks to Goldstein. They include Dawnay Day, Minerva and Tchenguiz, along with, obviously, Heron (Goldstein’s future employer).
Now he’s going, the reality as to how well these clients are welded to Olswang the institution versus Goldstein the whizz-kid will become clear.
As one City property partner puts it: “It all comes down to whether Olswang is the kind of place where clients are the private property of the partners who bring them in or are clients of the firm. That’s the way to judge whether a firm has an identity of its own or not.”
Olswang will be pretty comfortable that Heron, Goldstein’s new home from April, will still instruct it. Arguably, the others are up for grabs. The next few months will show whether Goldstein’s move is good for him, but not so good for Olswang.