Eversheds Sutherland (International) has set up a new law practice in Ireland, after it absorbed the firm’s current Irish business.
The new practice in Ireland will see 170 staff, including 26 partners, join the International business from September 15th, it said in a statement. It will have offices in Dublin and Belfast.
The move comes weeks after The Irish Times reported a number of Eversheds Sutherland Ireland partners were in talks to join the new Eversheds Sutherland (International) practice here. Those talks followed merger negotiations between the Irish business and William Fry, which failed.
At that time, as many as four equity partners were in talks to join William Fry, while nine current and former equity partners at Eversheds Sutherland Ireland were on track to join the new Eversheds practice, according to sources.
[ William Fry in talks to hire some Eversheds partners after failed merger talksOpens in new window ]
While Eversheds Sutherland Ireland was structured as a standalone firm within the Eversheds network, the new firm will be fully integrated into Eversheds Sutherland (International). As part of the deal, the new business will continue to operate from Eversheds Ireland’s current base at Earlsfort Terrace in Dublin and Montgomery House in Belfast.
Pamela O’Neill will be managing partner in Dublin and will lead the firm’s business in the Republic, while Gareth Planck will lead the Belfast office and Northern Ireland business.
“Opportunities for our clients in Ireland are considerable and today’s announcement is a significant step in our long-term plans for the future,” said Keith Froud, Eversheds Sutherland global co-chief executive. “I am confident that we will now be able to move our strategic goals for our Irish business forward at pace.”
The move comes after London-based Eversheds Sutherland (International) put the existing Irish practice on notice that it was taking back the Eversheds name after it emerged late last year that Eversheds Sutherland Ireland was in tie-up talks with William Fry.
That tie-up ultimately never came to pass, however.
The Irish staff are “proud” to join the international business and “energised” by the move, Ms O’Neill said.
The new firm will focus on financial services, technology, media & telecoms, as well as life sciences, energy and industrials, among other sectors.
“Of particular note, financial services clients which have operations and investments in Ireland, can take advantage of access to EU markets, with Ireland the only English-speaking, common law jurisdiction in the EU,” said Alexander Niethammer, European managing partner. “We are also excited to develop further our TMT clients as this sector accounts for over half of Ireland’s total service exports.”