Noerr’s banking team is now harvesting the fruits of its bold strategy. While some competitors complained about the difficult market environment in the banking sector, Noerr used the opportunity for growth. The firm invested in partners from its own ranks as well as laterals.
For a long time, the practice did not gain any noteworthy access to financial institutes. But today, the dedicated bank lending practice can be seen at the side of Deutsche Bank, Commerzbank and NordLB. Last year’s arrival of the experienced Dr. Tom Beckerhoff “gave the team a hefty boost”, as one competitor commented, and meant a further step on its path towards growth.
Just how good the banking practice has got at winning over financial institutes is demonstrated by new clients like Berenberg Bank, LBBW or the European Investment Bank, which hired Noerr for financing and capital markets measures. And in advice to companies, the bank lending practice also thrived: it advised US aluminum manufacturer Novelis on refinancing worth $1.8bn.
The momentum gained by the practice also extends to new developments. The bank regulatory lawyers took advantage of the opportunities arising from the digitalization of services and business models. They often advised alongside the Berlin lawyers, who are well connected in the local startup scene. One recent example was advice to fintech provider Joinesty. And the firm is looking to develop this promising work further: for its launch in Hamburg it brought bank regulatory lawyer Prof. Dr. Dr. Prof. Kai-Michael Hingst from White & Case on board.
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