Unlike the UK, major lateral hires among top tier firms are rare in Romania and Băiculescu’s departure is noteworthy because of his long history with Muşat & Asociaţii and also because of Ţuca Zbârcea & Asociaţii’s history with the firm.
Băiculescu has developed a strong reputation in mergers and acquisitions and Romanian privatisations – he is recognised as an expert in due diligence, the negotiation of assets and share-purchase agreements and post-acquisition restructuring matters. "Given the professional experience that we shared with Cătălin for seven years, his choice is a natural one...we are happy to welcome Cătălin on board - an impeccably professional and prominent lawyer and a key asset for our law firm,” Florentin Ţuca, managing partner at Ţuca Zbârcea & Asociaţii says.
In a relatively stable legal market, the move is further evidence of Ţuca Zbârcea & Asociaţii’s growing stature. The firm broke away from Muşat & Asociaţii in 2005 and Băiculescu had already worked alongside Tuca and Gabriel Zbârcea for seven years. Băiculescu - the 15-year veteran - served the longest period as a non-founding partner at Muşat & Asociaţii.
He explained his reasons for leaving to IFLR1000: “There were two main elements. On the one hand, there is the normal wear and tear when it comes to being in managing positions. Even in London, no one is a managing partner for life. You want to be close to clients, you want to be close to projects and the administrative tasks are basically occupying your overall schedule, you feel it is wasted time. On the other hand, the law firm Muşat is driving into a direction, which is very much focused on those areas which are crisis resilient. It is now very much focused in litigation, it is very much focused on insolvency, and it is very much focused in some other areas quite linked to this. The areas of practice that I’m involved in are corporate M&A and banking and finance. This is why I needed something else.”