Gide London to switch to LLP

Gide Loyrette Nouel’s London office is set to covert to a limited liability partnership (LLP) from 1 May.

The firm’s office in the UK’s capital has up until now been working under the multinational partnership framework.

Gide took the decision to convert to LLP status to bring London into line with its Paris practice, which took the French equivalent – association d’avocats à responsabilité professionnelle individuelle – last July.

Chris Mead, Gide London partner, said the status change has come as London is a “lynchpin” in the firm’s global strategy providing support to its international network.

“But we are also winning huge instructions ourselves,” added Mead. “And in their first year of operation our newly launched London IDR team has handled and resolved disputes with a value in excess of $500m (£250m)”

The news comes as Gide is gearing up to move from its Citypoint office into the heart of the City. It will be trebling the office space to 33,000 sq ft over three floors in 125 Old Broad Street.

The need to expand its English operations is the result of London now becoming the second highest grossing office within Gide’s 21 jurisdiction network. Only the Paris office is larger.

London’s gross revenue in 2007 was €22m (£16.5m), an increase of 28 per cent from 2006, roughly trebling its revenue since its launch in 2003. The headcount in London has also trebled to 55 fee earners, including 10 partners.