Press Release | Spencer West enters German market with partner hires and forecasts rapid growth for new law modelPosted: 3 Mar 2023
Leading alternative law firm Spencer West has announced its entry to the German market with the recruitment of an experienced team of three senior lawyers, targeting mid-market businesses and cross-border work in the latest stage of its expansion.
The news comes just weeks after the firm, the fastest-growing business of its type in the UK, launched its offering in Northern Ireland, and builds on the recruitment of 15 partners already in 2023 as it continues to attract high-calibre lawyers to its fee-sharing model.
The firm’s co-founders have forecast rapid growth in the German market, which they say is ‘ideally suited’ to the alternative law firm (ALF) model, with more and more clients looking to instruct lawyers as trusted advisors that understand their businesses.
Spencer West’s German office will be headed up by Frankfurt-based highly experienced Partner and restructuring lawyer Dr Artur Bunk, who brings vast cross-border experience from previous roles, including as VP-Restructuring for financial institutions in Germany, KfW – IPEX.
He is joined immediately by Corporate and Commercial Partner Damian Wypior, and IP and Unfair Competition Partner Vanessa Lichter, based in Berlin.
Spencer West co-founder Antoine West said he expected other lawyers to follow suit in making the switch to the ALF model by moving away from traditional firms, growing the firm’s presence in the market further.
“Germany is a legal market primed for ALF expansion, and we intend to be at the vanguard of the change. Lawyers are increasingly tiring of old-fashioned, out-dated models and are looking for the chance to run their own practices and keep more of the proceeds they generate,” he said.
“We’re already the fastest-growing ALF in the UK – and we anticipate replicating that very quickly in Germany, with more people wanting to join Artur, Damian and Vanessa. There’s a gathering momentum away from traditional firms to newer models offering greater flexibility, control and returns.
“The advantage we have is the ability to offer the compliance and marketing support lawyers need, enabling them to work collaboratively with our growing team of Partners in multiple jurisdictions internationally to deliver client service excellence and win more business.”
Artur Bunk, who is also qualified in Poland, said: “Ours is an offering perfectly suited to the mid-market – owner-managed, family businesses who aren’t getting the service they want from bigger firms. These businesses don’t have the time to teach advisers about their business, markets and cross-border trade.”
“Our model enables them to have direct access to the senior advisers they want, with the business and strategic experience they expect, and – crucially - the ability to offer a personal, agile service.” He added: “There’s currently a lack of lawyers in the Central European market who can work with mid-market, cross-border businesses. That’s a gap we can and will fill.”
“It offers a perfect opportunity to do more work with the mid-market and cross-border businesses as our model is perfectly suited to it. We expect to see more cross-border lawyers joining us in the very near future, filling a gap in the Central European market and giving us a real advantage.”
The news comes just a month after Spencer West confirmed its entry into the Northern Ireland market by way of a collaborative association with commercial firm McMahon McKay, which will operate from its existing Belfast offices as “McMahon McKay in association with Spencer West”. Founder John McMahon has also joined Spencer West as a Partner.
News of the expansion into Germany was featured in the following media outlets:
Law 360 (subscription required)
eprivateclient (subscription required)
Article written by:
Dr Artur Bunk
Artur Bunk is a Partner Solicitor at Spencer West. He specialises in Certified Restructuring Manager, representation of creditors and directors in bankruptcy, all matters relating to restructuring and insolvency, financial restructuring, corporate transactions and commercial disputes