CMS has launched a new office in Istanbul that will be headed up by partners John Fitzpatrick and Döne Yalçın. The pair will relocate to Turkey from their current posts in Bucharest, Romania, and Vienna, Austria, respectively.
In a press release, the firm highlighted the size of Turkey's economy (17th in the world) and economic growth projections of 5% for 2014. The office opening is part of a wider trend that has seen international firms such as Allen & Overy, Dentons, Baker & McKenzie and Edwards Wildman recently establish a presence in the country. The local CMS office will focus primarily on project finance and infrastructure, but will also look to build capacity in energy, capital markets and M&A.
Yalçın was a senior lawyer and local partner at CMS Reich-Rohrwig Hainz in Vienna, where she ran the Turkish desk. She focuses on international business law, corporate and commercial, real estate and construction and is vice president of the Austrian-Turkish Economic Forum.
Fitzpatrick is a corporate partner and head of the firm's international TMT industry sector practice group. He focuses on corporate and commercial, M&A, private equity and venture capital with substantial experience on cross-border and multi-jurisdictional deals. He recently advised General Atlantic Partners on the acquisition of a majority stake in e-commerce company Studio Moderna, which involved due-diligence on targets across 23 countries.
"Being on the ground in Istanbul gives CMS an excellent opportunity to expand on the work we do for clients Turkey," says Yalçın, while Fitzpatrick adds that "Turkey is of increasing interest to international companies and investors. Opening this office in Istanbul is proof of CMS' commitment to providing first-rate advice to our client in key jurisdictions".
In related news, CMS has announced that it will add Keith Webster as a partner in the pensions team in London. Webster will join the firm from Osborne Clarke in January 2014.