Herbert Smith has pounced on the Madrid office of Linklaters for three partners to open an office in the Spanish city.
The firm has brought four Spanish lawyers in total into its partnership for the launch. They include former Linklaters M&A and restructuring partners Alvaro Sainz and Miguel Riaño, an energy and infrastructure specialist.
The new hires will be joined by Herbert Smith finance partner David Wyles, who will relocate from the firm’s London office.
Herbert Smith senior partner David Gold said the hires represented a great opportunity for the firm.
“The calibre and reputation of this team will allow us to hit the ground running and their collegial, cohesive approach will fit in well with our culture,” Gold added. “They provide Herbert Smith with a very strong platform on which to achieve our objective of building a full-service premier practice in Spain.”
A management committee of Alvaro Sainz, Miguel Riaño and David Wyles is to be established. Sainz and Riaño will have lead roles in developing the practice while Wyles’ role will be to support the Madrid office’s integration with Herbert Smith’s international alliance with Gleiss Lutz and Stibbe while also developing the finance practice.
The Madrid office of Herbert Smith will focus on M&A, energy, infrastructure, disputes and finance work for IBEX 35 companies along with those of the firm’s international clients with activities and interests in Spain.
Linklaters was not available for comment.
When will legal firms admit that alliances don’t work?
Alliances can work, just not if Herbert Smith are involved. I bet opening in Spain has aboslutely nothing to do with the strategic goals of Stibbe and Gleiss Lutz; it seems to be an opportunistic move without thought to how it plays in Benelux or Germany.
So is this part of Linklaters New World? A bunch of partners were supposed to be on their way out by April. It seems all the departure are high profile with a pat on the back but departing nonetheless.