City corporate boutique seals merger with US firm

US outfit McGuireWoods has sealed an entry into the UK market with a transatlantic merger with London boutique Grundberg Mocatta Rakison.

The firms expect to finalise the tie-up on 1 May after 12 months of talks. The combined firm will operate under the McGuireWoods name.

The merger will mark McGuire's first foray into the London market. The 900-lawyer Am Law 100 firm, which posted revenues of $412m (£281m) last year, has existing international offices in Kazakhstan and Brussels.

Grundberg Mocatta senior partner Anders Grundberg will become office managing partner, while McGuireWoods will broaden its board of partners to include corporate partner Robert Rakison.

McGuireWoods vice chair Peter Covington will relocate to London, while former managing partner Bill Strickland will divide his time between Brussels and London.

Grundberg (pictured) told Legal Week: "We are combining two firms that are taking a robust view of the future. We will be the springboard for McGuireWoods' international ambitions."

Grundberg Mocatta made its name in the private client sector, but over the last 10 years has built up its commercial and corporate capabilities. The firm was recently instructed by Icelandic banks Kaupthing and Glitnir on a mix of litigation and commercial work.

The 14-partner firm has built up a successful network of international alliances in 120 cities worldwide, with around 80% of its practice containing cross-border elements. The firm also focuses on tax planning, litigation and dispute resolution.

McGuireWoods chairman Richard Cullen said: "We have been looking for the right opportunity in London for years, probably too many to count on one hand. London is the centre of all things financial, and we have been told by some of our clients we really needed to be there." Cullen declined to name specific clients who have asked for a London presence.

McGuireWoods' managing partner Thomas Cabaniss said that McGuire previously had to hire other law firms to help its clients with international transactional work. He said that the union with Grundberg Mocatta, which focuses on small to mid-sized M&A work, means McGuire can now handle these client matters on its own.

McGuireWoods is a general service firm, with capabilities across litigation, corporate and financial areas.

This article first appeared on The BLT: The Blog of Legal Times.

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