A high-profile name is set to disappear from the City law scene following an acquisition announced today.
Full-service firm Veale Wasbrough Vizards (VWV) announced a merger with ‘a significant part’ of Watford-based commercial law firm Matthew Arnold & Baldwin (MAB).
Matthew Arnold & Baldwin will close on 31 January.
The departure earlier this month of MAB's 75-strong banking and finance team to global firm Dentons, removed the core of the firm's City practice.
MAB was confirmed as a member of Barclays’ 19-strong global legal panel in July 2014, and advised the bank on numerous claims relating to the alleged misselling of interest rate swaps-linked products to small businesses. The bank’s provision for such claims is estimated at £800m.
Simon Heald (pictured), managing partner of VWV, said: ‘Matthew Arnold & Baldwin is a well-established legal practice with an excellent reputation for supporting businesses in Watford and the surrounding area including Milton Keynes and throughout the northern home counties.
‘This merger which we are proud to announce today, with a completion date of 31 January, will bring together complementary strengths from our two organisations and increase the level of support and range of legal services that we are able to offer businesses in Watford and the surrounding area.’
MAB partner Richard Phillips said: ‘We are very pleased to be joining forces with VWV who will bring additional strength and experience to complement our existing team and enhance our offering to local business and the wider community.’
Thirty lawyers from MAB specialising in corporate, commercial property including property litigation, IP/IT and employment will be joining VWV. They will continue to be based in Watford and operate under the VWV brand.