In what is apparently developing into a see-saw struggle between two of the largest international firms in Warsaw, Hogan Lovells has swooped on key rival Greenberg Taurig to take its former Polish real estate practice leader, Marek Grodek.
Grodek, a former Clifford Chance lawyer, has been with Greenberg since 2012 when he joined the firm as part of a 50-lawyer team from the now defunct Dewey & LeBoeuf. He had been the office shareholder (or lead partner) of Greenberg’s Warsaw office and head of the local real estate practice.
Jackie Newstead, Hogan Lovells’ global real estate industry sector head, said Grodek’s high profile and international client base would be key factors in growing her firm’s practice in Poland and cross-selling its capabilities across Europe.
“The global outlook for real estate continues to be strong, despite temporary disruptions in some markets due to Brexit, with huge overseas and domestic capital flows expected to continue,” added Newstead.
Hogan Lovells’ Warsaw office managing partner Beata Balas-Noszczyk added: “There are very few top-level Polish real estate partners who have a wide international viewpoint and who are used to working with international clients. Marek is one of them.”
However Richard Rosenbaum, Greenberg’s executive chairman, put his firm’s perspective on the real estate lawyer’s departure: “Marek was with us as the sole real estate partner in Warsaw for several years, and therefore was the head of real estate. Then in 2015, we brought on board Agnieszka Stankiewicz, who had been the head of the real estate team at Norton Rose, along with her entire team. Agnieszka has grown and flourished in our system as a practitioner and leader.
“That same year, we were joined by another strong partner, Radomil Charzynski, who came over from Allen & Overy. This past September, as was well known in the market and globally, we asked Marek to step down as group head and he was replaced in that role by Jola Nowakowska-Zimoch, when she joined with her entire 11-member team from Hogan Lovells, where she had served as head of real estate for nearly two decades.
“With Agnieszka, Radomil and now Jola and their significant teams on board, we immediately and for the first time rose to Chambers Tier One standing in real estate in Poland, a position most appropriate given our standing in other local practices and as an office in Poland, and consistent with our global real estate presence.
“Unfortunately, sometimes what is clearly best for our clients and firm is not viewed by an individual as best for himself, and we respect Marek’s decision in this case and of course understand why Hogan would have hired him under the present circumstances.”
Last September Greenberg raided Hogan Lovells, taking a four-partner, 11-lawyer team including group head Nowakowska-Zimoch. The move significantly boosted the local real estate capabilities of the US firm, which launched in the country in 2012 with a 50-lawyer team from Dewey.
Grodek’s practice focuses on commercial property development and property finance for a client base that includes US and Canadian institutional investors. He also has experience representing developers and property investors in disputes and arbitrations.
Hogan Lovells’ move is also partly aimed at capitalising on the emerging real estate investment trusts (Reits) regime in Poland, with legislation aimed at fostering Reits introduced by the Polish Government earlier this year.
For more about both Hogan Lovells and Greenberg Traurig’s real estate capabilities as well as trends in the broader global property market, read The Lawyer’s new Global Real Estate report 2018. Please contact Gilberto Esgaio or Letitia Austin on 0207 970 4191/4662 to purchase a copy.
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