French firm Gide Loyrette Nouel launches London funds practice

French firm Gide Loyrette Nouel has launched a London funds practice. The launch is part of an attempt to diversify the practice, after the downturn in finance and capital markets caused the gross revenue in the firm’s London office drop by 51 per cent to $12 million in 2009. London managing partner Colin Mercer said that finance accounted for about 75 percent of revenue, and, the office struggled to adapt to the turbulent market conditions brought on by the financial crisis. Last month, the firm completed an international strategy review that saw five offices throughout Europe and the Gulf marked for closure.

French firm Gide Loyrette Nouel launches London funds practice amlawdaily.typepad.com Wed, Nov 17, 2010