Expansion part of upping presence in the region.
An offshore law firm that is set to make history with the opening of an office in New York has a strong link with Bermuda.
Mourant du Feu & Jeune, the first offshore law firm to be established in New York, has been making waves with a series of mergers, including with the
Cayman firm Quin & Hampson.
The 60-year-old Channel Islands-headquartered firm Mourant has operations in London, Luxembourg, Dubai, Guernsey and San Francisco, and its client base includes more than half of the 100 most capitalized companies on the London Stock Exchange.
Mourant CEO Stephen Ball said Bermuda figures highly in its positioning in the Caribbean.
Bermudian clients
"Whilst being number one in the U.K., a lot of our business is increasingly being derived out of other jurisdictions," he said. "Some of Bermuda's leading law firms are our clients."
They include Butterfield Bank, BIAS, BISYS and Hemisphere.
Mr. Ball added:"That's one reason why, when I met Queen's Counsel, Charles Quin, who is also an ex Crown Counsel of Bermuda, who had worked in the Attorney General's Chambers between 1981 and 1984, I was really interested.
"This is a two-plus-two-equals-ten kind of move for Mourant as it ensures continued alignment with our interests."
Charles Quin, a senior partner of Quin & Hampson, explained that the merger was "perfect fit" for Mourant's New York move as well because of his firm's clients base in New York.
"The trend for consolidation in the offshore legal world is making it harder for independent firms to compete," Mr. Quin said.
Mr. Ball and Mr. Quin said they were excited about the merger.
Employee transfers
The partners of Quin & Hampson will form part of a new Mourant partnership in the Caymans and the employees of Quin & Hampson will transfer to Mourant.
In addition, Mourant is acquiring Q&H Corporate Services Ltd., the corporate services affiliate of Quin & Hampson.
Mourant International has $100 billion in fund assets under its administration.
It is part of the Mourant specialist professional services group which serves top international corporations and wealthy individuals.
A report in the U.K. publication The Lawyer yesterday featured a story with the headline 'Mourant to blaze offshore trail with NY launch.'
It said the move would take place in April.
"The move is part of a global expansion programme that aims to place Mourant in all of the world's major financial centres," the report said.
"Our strategic aim is to be where our principal clients are, and that's London and New York," Mr. Ball sai
"It's odd, given that New York is a vital feeder market for Cayman legal work, that no other offshore firms are there."
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