Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Weil, Gotshal & Manges is preparing to close its outpost in Budapest, as a 20-strong team from that office, including two partners, heads to British firm Bird & Bird.

The office, which opened in 1991, will officially close on Feb. 1. David Dederick, Weil’s Budapest managing partner, and partner Konrad Siegler are leading the team joining Bird & Bird. Dederick will co-head Bird & Bird’s Budapest base along its current leader, Peter Knight.

Dederick has a focus on international and cross-border M&A deals for clients in the communications, energy and utilities, health care, life sciences and technology sectors. Siegler specializes in banking and finance matters and acts for Hungarian and international banks, while also focusing on M&A deals, privatizations and bankruptcy and restructuring.

Exiting Weil’s Budapest office with both partners are a team of three senior counsel, 10 associates and five trainees. The three senior counsel are Ferenc Matrai, Laszlo Nanyista and Pal Szabo. The team will continue to work closely with Weil to assist their global clients, according to Bird & Bird.

Bird & Bird operates in Hungary as Knight Bird & Bird Iroda, a name it adopted in 2015 following the departure of a former office leader. The outfit is a fully integrated part of the U.K. firm’s international network. Excluding the incoming team from Weil, Bird & Bird has 10 lawyers based in Budapest, according to the firm’s website.

“These appointments will allow the combined team to provide deeper and more extensive services across multiple sectors,” said Knight, who also serves as head of international dispute resolution at Bird & Bird. “Strengthening our office in Budapest will benefit our regional strategy within central and eastern Europe.”

The Budapest closure comes almost a year after Weil shuttered its office in Dubai, the latest move by a global firm to rethink its operations in the Middle East. The Dubai office was Weil’s sole outpost in the region, having opened in early 2009. (Norton Rose Fulbright recently confirmed the closures of its offices in Abu Dhabi and Almaty, Kazakhstan.)

Last year, Bird & Bird opened an office in San Francisco and secured a cooperation agreement with Chinese firm AllBright Law Offices. As for Weil, which was an early pioneer in expanding into Central and Eastern Europe in the early 1990s following the fall of the Berlin Wall, it will continue to have European offices in Frankfurt, London, Munich, Paris, Prague and Warsaw.

“This decision was amicably discussed with our Budapest office leaders, and we will continue to support the office during a transition period and would look to refer appropriate work to them,” Weil said in a statement. “Over the years, our Budapest office has been involved in milestone transactions in Hungary. We are very proud of all that our colleagues have achieved, and we know they will continue to accomplish great things. We thank them for their many contributions to Weil and wish them all the best.”

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.