Competition is set to intensify in the world of corporate law with news that Mr Brian O'Donnell, the former managing partner of William Fry solicitors, has set up his own practice specialising in mergers and acquisitions.
Mr O'Donnell has set up an office in Merrion Square, Dublin, and is planning to recruit between 20 and 30 specialist lawyers by the end of the year.
Mr O'Donnell is a leading corporate lawyer who has been involved in several flotations and privatisations in recent years, including the privatisation of Irish Life. He currently acts for the Doyle Hotel Group and was involved in the protracted merger discussions with the Jurys Hotel Group.
The new practice, Brian O'Donnell and Partners, is expected to form a business relationship with a US corporate law firm in the coming weeks. The two firms will seek to get involved in privatisations and public-private partnerships (PPPs).
Mr O'Donnell declined to name the US firm, but said it had wide-ranging experience in privatisations and PPPs.
"This will be the first time in Ireland where such an Irish law firm and international law firm will combine forces," he said.
Mr O'Donnell said he parted with William Fry two weeks ago on "amicable terms" and said it was just one practice he would now compete against. Some of William Fry's clients have moved to the new practice.
Mr O'Donnell said the new firm would concentrate on sectors such as telecommunications and information technology.
He said many corporate clients were currently unhappy with their existing law firms because of a problem with "Chinese walls".
"Many clients are uncomfortable with law firms who may also be representing one of their competitors and would like a greater separation," he said. As a result, he said, some leading plcs had chosen to work with British law firms. He said the new firm, as a start-up operation, would have an advantage in this area.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)