PARIS, Feb 1 (Reuters) – Worldwide regulation firm Simpson Thacher & Bartlett LLP options to open an business in Brussels this summer season in the wake of Brexit, marking the newest main company to set up a existence in mainland Europe subsequent Britain’s departure from the European Union.
Simpson Thacher & Bartlett, which states its roots go back to 1884, reported on Monday that its new Brussels office environment would concentrate on several European regulatory and lawful concerns.
“The Brussels place of work will enhance the firm’s presence in London and will aim on supplying our clientele with tips on European merger regulate and competitors regulation and restrictions relating to foreign direct financial investment right before the European Commission, the European Courts and Member States of the European Union,” mentioned Monthly bill Dougherty, chairman of Simpson Thacher’s govt committee.
The Town of London’s political chief informed Reuters last month that London experienced no need to light a bonfire of polices to keep its position as a major global finance centre following Brexit, but it was prepared to act if the European Union blocks access.
When it is however the only world centre to rival New York, London has viewed some organization and occupation losses because the shock 2016 Brexit vote, and monetary services were largely neglected by British leaders during EU divorce negotiations, slicing the Town off from its greatest one customer. (Reporting by Sudip Kar-Gupta Editing by Kim Coghill)