HAMILTON, Bermuda, May 21, 2015 (GLOBE NEWSWIRE) -- The Bermuda Business Development Agency (BDA) has welcomed leading international law firm Walkers to the Island after the firm announced today it expects to open a Bermuda office later this year, subject to licensing and approvals.
The move marks the first major international law firm to enter the Bermuda market.
"Walkers is a major player in international law, particularly in investment funds, and we believe this will be beneficial to Bermuda as we continue our drive to attract greater investment management business to our Island," said BDA CEO Ross Webber. "Notably, Walkers are referrers of business and they advise hedge funds with regard to choice of jurisdiction. Walkers being able to offer a Bermuda solution should result in growing the overall volume of business on the Island."
With nine offices around the world, including Cayman Islands, British Virgin Islands, Ireland, London, Jersey, Dubai, Hong Kong, and Singapore, Walkers is a leading international finance centre law firm, specialising in corporate and international finance law. In a press release issued today, the firm said it will offer clients a full-service operation in Bermuda, with a broad range of practice areas encompassing litigation, insolvency, corporate, investment funds, finance, insurance and trusts.
"Our clients have long told us that they would value the expansion of Walkers' service offering to include Bermuda legal advice," said Walkers partner John Rogers. "As with our other global offices, we intend to become a major force in the legal services industry in Bermuda and to grow and develop talent in that jurisdiction."
Walkers have been exploring this opportunity for some time and have been in discussions with the BDA as well as other local service providers.
"As with all of our business concierge clients, we provided advice with regard to the business climate and method of setting up here," said Webber. "We also provided introductions to other law firms and service providers.
"Having yet another leading international law firm including Bermuda as part of their conversation is hugely valuable for our Island from a competitive perspective," he noted. "It raises Bermuda's profile, and we believe it will increase business flow to the jurisdiction."
For more information, go to www.bda.bm.
ABOUT BERMUDA BUSINESS DEVELOPMENT AGENCY (BDA)
The BDA encourages direct investment and helps companies start up, re-locate or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect prospective companies to industry professionals, regulatory officials, and key contacts in the Bermuda Government to facilitate domicile decisions and make doing business in Bermuda straightforward and beneficial.
For more information, visit bda.bm.