In a snub to Landwell’s UK practice, Belgian ally Bogaert & Vandemeulebroeke is on the hunt for a second alliance with a larger UK or US firm.
The firm is retaining a correspondent relationship with the PricewaterhouseCoopers (PwC)-tied firm after removing itself from the network in June because of Belgium’s restrictions on accountancy-tied firms. However, the firm has been in talks with US and UK firms in the hope of building a strong Continental alliance.
Senior partner Marc Vandemeulebroeke said: “Our preference is to have a second network, but one that is more orientated towards the US and UK.”
It is understood that Landwell’s meagre growth in the UK has helped prompt Bogaert’s new strategy. Last year, a strategy document revealed by The Lawyer said that Landwell’s European partners were losing confidence in the London office.
Landwell UK managing partner Leon Flavell argued that the Belgian move is due to restrictions affecting the UK firm’s work with Securities and Exchange Commission-registered PwC clients.