Addleshaw Goddard has become the latest law firm to plant a flag in Luxembourg in a move it says will add depth to its funds finance capabilities in Europe. 

Spearheading the launch of Addleshaws’ new base is corporate partner Richard Ledain Santiago, who joins the firm after a four-year stint at UK rival Fieldfisher where he was in charge of the firm’s corporate and banking groups in Luxembourg. 

He will be joined by banking and finance lawyer Benjamin Devouassoux and corporate finance expert Theodoros Karantanos, who are also moving across from Fieldfisher as a managing associate and counsel respectively. 

Addleshaws, which now has a total of 17 offices including five in continental Europe, said Luxembourg’s status as a ‘significant business conduit’ for finance, corporate, real estate and funds transactions originated in the UK and EU jurisdictions made it a logical landing spot for its business. 

Some 90% of the funds finance work the firm undertakes involves Luxembourg funds, managers and administrators, which meant opening in Luxembourg “makes perfect sense” for the firm and its clients, according to managing partner John Joyce. 

“Clients talk to us about better servicing their requirements by having more impact in Europe," he said. "Luxembourg is the next strategically important jurisdiction for us to focus on, as its reputation as a stable and competitive economy and a leading hub for financial services institutions is well known."

Joyce added that the firm would be looking to grow its Luxembourg roster on top of the foundation laid by Santiago and his “very established” team. 

Santiago, who joined Fieldfisher’s Luxembourg office in 2018 from Allen & Overy, has more than a decade of experience advising local and international clients on private equity, finance, M&A and general corporate matters. He brings with him particular expertise in aircraft finance, real estate and capital market transactions. The firm said Santiago’s particular ‘cross-sector capability’ lines up well with Addleshaws’ main focus areas, including energy and infrastructure, aviation, rail and shipping, real estate and financial services, among others. 

Addleshaws’ launch in Luxembourg comes just over a month after it added a presence in Dublin by merging with local firm Eugene F Collins, a move that added more than 100 legal professionals and 25 partners to its network. 

Last July, the firm reported a 12% increase in revenue to £321m against a 23% rise in profit-per-equity-partner to £849,000, according to Global Legal Post's UK law firm results tracker.

Earlier this month, White & Case unveiled a Luxembourg office, following the hire of funds specialist Arnaud Cagi-Nicolau as a partner from local firm Elvinger Hoss & Prussen.

A string of US firms – including Debevoise & Plimpton, K&L Gates and Curtis Mallet-Prevost Colt & Mosle – have opened offices in Luxembourg in the wake of Brexit, while Goodwin Procter opened there in late 2019.