DAC Beachcroft launches in New York

DAC Beachcroft (DACB) has made its first move into the US through the launch of a representative office in New York.

The firm said the office would support its international network, which has expanded rapidly across Latin America since the merger between legacy Beachcroft and legacy Davies Arnold Cooper (31 October 2011).

Most recently the firm formed an alliance with Colombian insurance outfit De La Torre & Monroy Abogados Asociados, which started trading as DAC Beachcroft Colombia in December (2 December 2013).

DACB said the New York base would focus on primarily on international litigation and arbitration work. It said partners would be sent to the base on a rolling basis. This would include insurance head David Pollitt, the Mexico office head Francisco Fernandes-Fletes and reinsurance chief Julian Miller.

The firm’s global head Paulino Farjado, who has been a driving force behind its international expansion, will also spend time in the New York office.

“We know there are opportunities for the firm on the other side of the Atlantic,” said DACB managing partner Paul Murray. “This base will allow us to build relationships in North America, which is another important step toward our long-term goal of becoming the leading international provider of legal services to the insurance sector.”

The move is part of a strategic alliance with Manhattan-based specialist insurance firm Abrams Gorelick Friedman & Jacobson (AGF&J). The alliance will see the two firms working together in New York and London.

In November DACB set out ambitious growth plans with an eye on achieving revenues of £200m by the 2013/14 year end (18 November 2013).

The firm issued a £10m cash call to the firm’s LLP members while increasing its rolling credit facility to £40m to help fund growth.

It hasn’t all been growth for the firm, however. In April Clyde & Co raided the Madrid base for a team of four partners to launch its Spanish base. The team included Ignacio Figuerol, who was a board member at the time (16 April 2013).