Dechert has started off 2019 with two partner additions, recruiting funds expertise into both its Dublin and Luxembourg office.
The US firm has hired Maples & Calder’s Carol Widger as its new managing partner of Dublin, a financial services lawyer that advises companies on services to investment funds.
On the Continent, Ashurst’s Marianna Tothova joins Dechert as a partner in London and Luxembourg. Tothova was a senior associate and then counsel at Ashurst, which only last year opened its first office in the European country. Prior to that she was a lawyer in Linklaters’ investment management group.
Gus Black, co-chair of Dechert’s financial services group, said: “Many of our clients have business spanning Ireland and Luxembourg, and these appointments signal our commitment to both of these important fund centres as well as our ‘jurisdiction neutral’ advice model”.
Dechert was one of the first international law firms to launch in Dublin, with the hire of William Fry funds partner Declan O’Sullivan and three associates in 2010. It then went on to hire Invesco Perpetual’s head of legal Michelle Moran months later, who nevertheless left in 2013 for Ropes & Gray. She became a partner at K&L Gates in 2017.
Interest in Dublin has ramped up since the Brexit vote, with a swarm of firms taking a look at the Republic of Ireland as it was indicated that some British businesses would look to leave the UK following the referendum. Last year, DLA Piper, Simmons & Simmons and Covington & Burling all opened operations in the city.
Dechert meanwhile has had a presence in Luxembourg for nearly two decades, opening in the country in 2001 through a merger with local firm Brucher & Seimetz. Marc Seimetz is still a partner at Dechert in the financial services group.
Luxembourg, like Dublin, is set to feature more prominently in firm’s “to do” lists as the UK gears up for Brexit. It is home to a wealth of asset managers, with further investment businesses likely to look at the region as a place to do business.