Clyde & Co is to launch its first office in Germany after picking up a five-lawyer team from Noerr.
The team launching Clydes’ new Düsseldorf base is led by insurance partners Henning Schaloske and Tanja Schramm and also includes insurance counsel Daniel Kassing.
The group specialises in insurance work relating to financial and professional lines, property, product liability, cyber, and warranty and liability matters.
Clydes’ global head of insurance Simon Konsta said: “Germany is one of the world’s most important economies and has an exceptionally strong insurance market supporting its core industries.
“It’s long been a gap in our global network. Having an office in Düsseldorf, in Germany’s industrial heartland and the home of many domestic and international insurers, will enable us to better support our international clients, form deeper ties with our German clients and increase our share of outbound work from Germany.”
Clydes has worked alongside Noerr in Germany for a number of years and said in a statement it will continue to do so after it opens its own office. The office will open in September 2016 and will be the firm’s fifteenth in Europe and 46th globally.
Clydes recently marked its tenth anniversary of operating in the US by opening an office in Miami. The firm gained the office after merging with litigation boutique Thornton Davis Fein. The team was made up of 35 lawyers and staff including five partners.
Average profit per equity partner (PEP) at Clydes reached its highest ever figure last year after increasing to £665,000, up from £660,000 during the 2014/15 financial year. Turnover also grew during 2015/16 by 13.2 per cent, from £395.3m to £447.3m.