The firm's Berlin office is being closed down. Olswang follows Hogan Lovells, Orrick, Herrington & Sutcliffe and King & Wood Mallesons in closing down in the city in the last two years.
TMT - at core of firm
The 120-partner, London-based, international firm almost defines itself through its TMT practice, saying it is an 'international law firm and a European leader in technology, media, telecommunications and real estate'. The firm says that the departure of the team and the reorganisation will be done in a way to 'minimise disruption for clients and will secure continued employment for all staff'.
Short-term revenue reduction
Paul Stevens, the Olswang CEO, told The Lawyer: 'Given Olswang’s focus on TMT, we have agreed that our Berlin colleagues will continue to seek to grow their practice under a different brand. While these changes will reduce the firm’s revenues in the short-term, we expect no significant effect on our profitability, nor any disruption to the implementation of our strategic plans and longer term sustained growth.' Source: The Lawyer
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