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More private practice firms looking to Turkey

Posted by: Laurence Simons 26/02/13

The Turkish legal market has undergone impressive levels of expansion in recent years, with Baker & McKenzie, Clifford Chance and McDermott Will & Emery all establishing a presence in the country.

Global law firm Pinsent Masons has become the latest organisation to jump on to the bandwagon, launching a new office that will be headed up by Noyan Goksu, the former head of arbitration at Turkish firm Herguner Bilgen Ozeke.

Practicing rules in the jurisdiction mean that the firm has brokered a deal which will see Mr Goksu create his own practice, giving it a degree of independence, but with Pinsents entering into a joint venture agreement that will allow them to have some control over the new office.

Senior partner Chris Mullen said: "We have a clear focus on investment into those global sectors where we see client demand and the greatest potential for growth."

A recent report from Laurence Simons stressed the potential for growth in Turkey. An unseemly scramble for market share in the east has been obvious in recent years, with the slump in many western markets leaving global law firms eager to branch out towards more exotic climes.

"There is a general feeling that the Turkish economy has managed to
weather the economic storm and is therefore far better placed than some of its neighbours moving into 2013," said the Laurence Simons report.

With this in mind, Pinsent Masons may be slapping itself on the back for making the move towards Turkey before it becomes part of the mainstream.

It is rapidly becoming a key link between Europe and the rest of the Middle East and Asia, with the government hoping to get its hands on lucrative foreign investment through a number of regulatory changes.

Like the Istanbul architecture, Turkey's unique cultural blend makes it a tremendously appealing location for lawyers and legal firms looking to gain some experience in an international market.

Click here to find out more about our track record in Turkey.