Magnusson co-founder leaves firm to launch advisory business
After seeing his firm grow into a major regional practice, Per Magnusson starts afresh
Per Magnusson, the co-founder of Baltic practice Magnusson, has left to start a new business.
The well-known figure on the European legal circuit cut his formal ties with Magnusson at the end of last month after a lengthy handover period.
And he says he doesn’t intend for his new venture, Magnusson Minds, to embark on a similar expansionary path as that enjoyed by his former firm, which he founded with three other partners in 2004.
He has already started work as a Stockholm-based legal consultant offering litigation and arbitration advice to clients, sitting as an arbitrator, and providing advisory work, such as running M&A transactions and advising company boards.
He will enlist the services of other lawyers as and when they are needed using a flexible law model.
“This way I will be able to continue servicing clients on complex matters, albeit in a more agile format and with a uniquely hands-on approach and senior experience offering,” he said. “And Magnusson Minds will be independent, not competing with other firms.”
Since it was founded in 2004, his former firm has grown into a major Baltic practice, with offices in Sweden, Denmark, Finland, Latvia, Estonia, Lithuania and Russia.
He characterises his departure from the firm as ‘a bit like Brexit’ given his long-term leadership role.
“Magnusson is a fantastic firm and I really enjoyed seeing it grow, it was very rewarding. I am very entrepreneurial and after many years the firm became an institution with its own life,” he said.
“When things become a bit more established, it becomes a different challenge. People have something to protect. I am not an institution guy and it came to a point when I thought it was time to do something new and for the next generation to take on the running of the firm. When I turned 60 last year I thought that was a good point to start planning for my departure."
Meanwhile, his new business is something of a family affair, with his wife Anna-Lena Magnusson in the role of office administrator and his daughter Anna having designed the brand.