Opening in Luxembourg extends AG's influence throughout the main business centres in continental Europe, adding an office in the world's second largest investment fund centre.
Addleshaw Goddard continues to invest across continental Europe with the opening of an office in Luxembourg, a leading hub for financial services institutions and the epicentre of activity for investment funds and asset management. With Financial Services as the firm's largest single sector, Luxembourg represents a significant business conduit, not only in finance deals, but also corporate, real estate and funds transactions originated in the UK or EU jurisdictions. At present, approximately 90% of the funds finance work that AG undertakes involves Luxembourg funds and/or managers and administrators.
The new office follows in the wake of the announcement, on 1 March 2022, of the merger with Dublin-based law firm Eugene F Collins LLP, bringing the total number of AG offices outside of the UK to 11.
Addleshaw Goddard launched in Paris in January 2021 and in Germany in June 2019, with both of those jurisdictions tracking well ahead of initial plans, with already around 100 people on the ground. AG's presence in Luxembourg enhances its coverage and operations in both France and Germany, as well as other EU countries, ensuring that clients receive a comprehensive service across the EU.
The new Luxembourg team
AG's new Luxembourg office will be led by partner Richard Ledain Santiago, who joins from Fieldfisher in Luxembourg, where he was head of Corporate and Banking, having joined the office in 2018 when he moved from Allen & Overy. Richard has over 15 years' experience, in both Paris and Luxembourg, as a corporate and finance lawyer, advising a broad range of clients, including asset managers, banking institutions, insurance/reinsurance companies, multinational corporates, airlines and private wealth clients. His practice has been built on providing advice to these clients across M&A, joint ventures, structuring of international transactions, securitisation, general corporate finance matters and, for asset managers, supporting them across a range of sectors including private equity, debt, infrastructure and real estate.
Richard is well known in the business community in Luxembourg and has a dedicated cross sector capability, which aligns with AG's focus on Energy and Infrastructure, Retail & Consumer, Debt Capital Markets, Aviation, Rail & Shipping, Real Estate, Hotels, Financial Services, Government, Healthcare and Pharma.
Richard will focus on building AG's practice around the core services provided by international law firms in Luxembourg, in funds and funds finance work globally, as well as growing in areas such as asset management, investment funds and taxation.
John Joyce, Addleshaw Goddard's Managing Partner, said:
"Clients talk to us about better servicing their requirements by having more impact in Europe. Luxembourg is the next strategically important jurisdiction for us to focus on, as its reputation as a stable and competitive economy and a leading hub for financial services institutions is well known. As around 90% of the funds finance transactions that we are involved in involve Luxembourg advice and/or Luxemburg funds, it makes perfect sense for us to follow our clients there, many of whom are already extremely active in the region. Richard and his team are very established in Luxembourg and beyond, and we are looking forward to building on our successful European network."
Richard Ledain Santiago, Addleshaw Goddard’s Luxembourg office managing partner, said: "Addleshaw Goddard is a leader in the commercial areas which are at the core of the Luxembourg market, and which are also at the centre of our team’s expertise. This makes it a perfect match of providing the right support to our collective clients across a highly skilled, and growing, network. I’m excited to be joining an ambitious group of very talented lawyers, who together, can provide guidance and support across the immense opportunities the Luxembourg market has to offer."
Addleshaw Goddard now has 17 offices worldwide – six in the UK; one in Ireland, two in Asia; three in the Middle East and (including Luxemburg) five in continental Europe.