LLP‘s office in Budapest, Hungary will spin off from the firm, to form the new Lakatos, Köves & Partners.
London’s Clifford Chance says it is dropping the office as part of a reorganization of international resources.
All of Clifford Chance’s lawyers and staff in Budapest will transfer to the new firm by the end of this month. The new firm will be headed by managing partner Peter Lakatos.
Clifford Chance LLP is the largest law firm in the world by number of lawyers, and part of the UK’s “Magic Circle” of leading law firms. It is a prestigious international practice with its principal office in London.
Hopefully the staff in the existing offices will be able to find work elsewhere, this has to be worrying for them especially in the current economic climate.
Christy A.
I wonder why they needed to reorganize their international offices. Does this have something to do with a falling out between the office in Budapest and the leadership back in London?
It is a bad time to lose your job, hopefully the staff will have an opportunity to transfer to the new firm. The economy is relentless these days.
Joe H.
I am not sure why they chose Budapest as a future consolidation ground. The area seems to be farther away to be impactuful in a economy that is already pinching pennies.
Josh S.
If the Budapest office is simply going out on its own, with the same people on the pay roll and being run by a managing partern with the parent firm, I don’t see the neccesity for the Budapest office to detach itself at all.
Raymond B.