Making an international office work is often a difficult task, especially in a crowded market. New figures on the French market show that in Paris, several international firms are finding the job difficult.
The annual survey of French firms’ headcount and turnover carried out by French publication Juristes Associés revealed that headcount and turnover had fallen last year at a number of international firms, particularly the magic circle. The survey said Clifford Chance’s headcount had dropped by 18 per cent and Freshfields Bruckhaus Deringer’s by 19 per cent.
The results come as Canada’s Fasken Martineau announces it is to close in Paris next month after failing to build a francophone African practice led from the French capital.
Nevertheless some firms are still expanding. DLA Piper added 29 fee-earners in 2014, a rise of 28 per cent, and K&L Gates’ headcount in Paris rocketed by 82 per cent last year.
Turnover changes were more modest, with White & Case beating the trend by securing a 15 per cent rise in its revenue from Paris.
Over the border in Germany Luther has just announced its 2014/15 revenue, and the story is one of continued growth. The firm said turnover had risen 6 per cent last year with an equally-strong performance domestically and internationally.
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- Litigation funder Bentham has retained Quinn Emanuel Urquhart & Sullivan to bring a shareholder claim against Volkswagen in Germany that could top €4bn
- US employment giant Littler Mendelson has acquired German employment boutique Vangard as its first foothold in Europe
- And all the latest partner hires and other appointments within Continental European firms and office
