Weil, Gotshal & Manges has announced that it will be withdrawing from Poland, the firm's last presence in Central and Eastern Europe, with the firm's Warsaw-based partners to take over the business on January 1, 2020 and operating going forward as Rymarz Zdort.
“Operating as Rymarz Zdort will give us more flexibility in aligning our strategy to the needs of the local market and will facilitate the adaptation of the firm’s profile to current market trends," said Partner Pawel Rymarz. "We are very pleased with the terms agreed with Weil on which we are taking over the office’s operations; these arrangements will allow us to continue as before using the same technical and office resources."
According to a Rymarz Zdort press release, "apart from the new name, the change is a purely formal ownership transition, while all remaining aspects of its business activity, such as the range of legal services provided, the team, client engagements and even bank account numbers will remain unchanged and will not cause any complications on the operating level."
By withdrawing from Poland, and following the closure of its Budapest and Prague offices last year (as reported by CEE Legal Matters on January 18, 2019 and November 27, 2018, respectively) Weil is ending its presence in Central Europe.
“Weil and its Warsaw partners have agreed that the Warsaw office will be spun out from Weil to be owned and operated by these partners as an independent firm," said Weil Executive Partner Barry Wolf. "The Warsaw office will thus seamlessly continue its best-in-class legal practice in Poland. This evolution reflects the changing nature of the practice in Poland and will allow our Polish partners more freedom and flexibility. We anticipate referral of client work between Weil and this new Polish office, as appropriate, going forward. Over the years, our Warsaw office has been a leader in the region, involved in many significant transactions in Poland. We are very proud of all that our colleagues have achieved and we know they will continue to accomplish great things. We thank them for their many contributions to Weil and wish them all the best.”
“More than 25 years of working within a global structure of such a reputable service firm as Weil, Gotshal & Manges has been an invaluable time for building a broad range of skills and spearheading the use of bold and often innovative solutions on the Polish market," said Partner Pawel Zdort. "Together, we have managed to create a firm whose attorneys have handled the largest and most high-profile M&A and ECM transactions in Poland; we are known for providing top-notch services, and this is a joint success for which we would like to thank our colleagues from the other Weil offices. As is the case with all sectors, there are times in a law firm’s life cycle when being in a partnership yields benefits and those when the partners reach the mutual conclusion that a new opening will be the best solution for both parties. Weil will pursue the strategy of focusing on markets where the network’s main global clients have a presence, while Rymarz Zdort will have more leeway in developing and expanding new departments and will be able to welcome new partners."