For all the turmoil surrounding financial markets in Europe, Germany remains a powerhouse. It is the world's fourth-largest economy, and its strength in exports has helped bolster the nation, even as other European economies retreat.
Dechert has about 230 lawyers in Philadelphia and more than 850 total.
The office in Frankfurt will be headed by financial-services lawyer Achim Puetz, who joined the firm in its Munich office in 2010. He will be joined by lawyers Benedikt Weiser and Carsten Fischer, who will focus on asset management, banking, insurance, mergers and acquisitions, and other matters. They, in turn, will be joined by an as-yet-undetermined number of associates, the law firm said.
For years, Dechert has focused on financial services and transactions; its strategy going back decades has been to expand into regions around the globe where existing clients might have business, and where the firm might acquire new clients. O'Donnell said he expected that the Frankfurt office would work closely with firm lawyers in New York, as well as London, Luxembourg, and Dublin, Ireland.
"It really was the missing piece of the puzzle for us," O'Donnell said.
A similar story played out for Dechert in Moscow in 2009. Then, the firm lured transactional lawyer Laura Brank away from Chadbourne & Parke L.L.P., a New York-based firm. She went on to advise General Motors, PepsiCo Inc., and other multinationals on deals in Russia valued in the hundreds of millions.
Dechert opened its office in Munich, a center of German business and manufacturing, in 2004. There, the firm focuses on private equity and venture-capital transactions, Islamic finance, securities, banking, and other matters.
Contact staff writer Chris Mondics at 215-854-5957 or cmondics@phillynews.com.
