Pinsent Masons is the first firm to look across the Irish Sea post-Brexit vote...
The international law firm Pinsent Masons is on the hunt for an office in Dublin, the Irish Times reports.
A commercial property agent in Dublin has been instructed to locate up to 10,000 sq feet of office space in the capital city.
It’s suggested the move will see some of the firm’s lawyers register here and move to Dublin to enable them to practice across the EU when Britain leaves.
Pinsent Masons – which ranks among the world's top 100 law firms by turnover – has been reviewing its Irish operations in the wake of the UK's decision to leave the EU.
Other large UK law firms are understood to be considering similar action.
The Law Society here has confirmed that 186 UK-based lawyers were admitted to practice here between January and June and they’ve been receiving about 30 queries a day about the registration process.
Fewer than 50 registered last year.
A spokesman for Pinsent Mason refused to confirm or deny a report in The Lawyer that it is eyeing up a Dublin property.
“We have a market-leading Northern Ireland presence which naturally lends itself to elements of cross-border work and a number of important relationships in the Republic of Ireland,” the spokesman said.
“It is true that Dublin is an important legal market and will continue to be so, and that we never rule out any strategic proposition that could materially enhance our ability to service clients in the global sectors in which we operate."
Meanwhile, Prudential Insurance confirmed yesterday that it is considering moving some of its funds business from London to either Dublin or Luxembourg.
Such a move would ensure that Prudential’s investment management arm, M&G, could continue to distribute its funds throughout Europe from a regulated EU capital city.