Finland’s Peltonen merges with LMR after losses

Finnish firms Peltonen Ruokonen & Itäinen and LMR have merged, creating an almost 50-lawyer strong firm.

Peltonen LMR will provide its domestic and international clientele with services in all areas of Finnish business law.

The move follows the departure of Peltonen’s bankruptcy team, which formed its own boutique. Peltonen managing director Tomi Merenheimo and corporate and M&A partner Mika Oksanen also left to take up positions at Swedish firm Magnusson’s new office in Helsinki (16 February 2011).

“A large law firm isn’t an end in itself,” said chairman of the Peltonen LMR board Leif Itäinen, who held the same position at Peltonen. “What’s of critical importance is the ability to serve all of the legal requirements of every client.

“By merging our firms, we’ll create an entity which is in a very strong position to meet this challenge, in terms of the talent and experience of our firm as well as the resources available to our clients.”

LMR managing director Johan Schmidt has been appointed to the same position at Peltonen LMR.