Legal firms Bailhache Labesse and Appleby Spurling Hunter are to merge on 1 September this year. Mi...
Legal firms Bailhache Labesse and Appleby Spurling Hunter are to merge on 1 September this year.
Mike O'Connell, chairman of the management committee at Bailhache Labesse, said the merger would create the only offshore provider of legal, fiduciary and administrative services with a foothold in four offshore business centres - Bermuda, the British Virgin Islands, the Cayman Islands and Jersey.
The combined group will be known as Appleby Hunter Bailhache and have nearly 600 employees.
The new group will offer general company and corporate advice, insurance, funds and investment services, asset finance and banking, telecommunications and technology, dispute resolution, insolvency and restructuring, capital markets and financial structures. It will also offer trust and real estate services.
O'Connell said the merger would help the firm obtain critical mass in the international market.
He explained: "In recent years, the offshore legal market has experienced dramatic changes. The demand for offshore services is very strong and there has been explosive growth among the leading firms.
"There has also been a consolidation of firms, both globally and locally in the offshore jurisdictions, and those firms are also expanding their reach to gain greater access to broader European, Asian, Latin American and Middle Eastern markets.
"As firms evolve and look to establish a presence and critical mass in key offshore jurisdictions, a 'magic circle' of offshore firms is emerging."
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