As its rivals downsize in Germany, Latham & Watkins is in hiring mode. The firm is targeting premium M&A work in a bid to catch up with key rivals by 2020, says country head Oliver Felsenstein, formerly global co-head of private equity at Clifford Chance (CC).

“In three years’ time we want to be viewed at least on a par with Freshfields Bruckhaus Deringer and Hengeler Mueller. These firms have traditionally had strong reputations in strategic M&A, but we have invested and continue to win market share.”