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A fragile eurozone has contributed to a contracting Dutch economy and the government has instigated austerity measures. Against this backdrop, one of the jurisdiction’s largest financial institutions, SNS Reaal, was nationalised in 2013 as a result of its weak finances. However, the Netherlands’ position as a neutral country and its corporate-friendly tax regime means it remains an attractive market for international business, particularly inbound and tax-driven deals.
Local law firms remain resolutely independent, with firms such as De Brauw Blackstone Westbroek competing prominently alongside foreign players such as Allen & Overy LLP and Clifford Chance.
Meanwhile, Jones Day’s entry to the market signals the interest of US firms that do steady business in the jurisdiction. The firm’s key lateral hires include Ferdinand Mason from Boekel De Nerée, Johan Kleyn from Allen & Overy LLP and Marcel van de Vorst from Norton Rose Fulbright.
In a market saturated with large law firms, the trend for established lawyers to join or found boutiques continues. Christiaan Alberdingk Thijm left SOLV Advocaten to set up bureau Brandeis, while corporate boutique Rutgers & Posch recently hired insolvency specialist Karen Harmsen from Stibbe, as well as finance lawyer Kees Westermann from Linklaters.
Huyzer Doornik Der Kinderen, Attorneys at Law and Tax Lawyers is now known as HDK, Attorneys at Law and Tax Lawyers.