The merged firm, which will be known as MJ Hudson, said the move was the next step of an expansion into key asset manager and funds jurisdictions, including the launch of a Hong Kong office next year.
MJ Hudson managing partner Eamon Devlin said, “Creating an onshore offshore capability under one roof is a timely and client driven innovation for our sector, where we are seeing a lot of demand, particularly focused on fund formation in alternatives.”
Devlin pointed out that clients had previously needed to appoint two law firms – one onshore and one offshore – to ensure they did not fall foul of regulatory, tax and legal issues.
He said, “Clients are looking for a managed introduction to offshore jurisdictions, which is seen as a key home for servicing offshore funds advised out of London. Also VerrasLaw are most unusual in having built an offshore practice around asset manager clients, as opposed to the usual offshore model of relying on onshore law firm referrals, thus doubling our respective client bases.”
The merger is subject to regulatory approval. Until formal approval has been obtained, MJ Hudson and VerrasLaw will be working in association but trading under the name of MJ Hudson.
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