UK-based law firm Charles Russell Speechlys has officially launched its operations in the United States, setting its sights on advising wealthy families and individuals. The firm opened a New York office, marking its first physical presence in the country, with a team of five lawyers led by partner Michael Kosnitzky, who joined from the law firm Fox Rothschild.
Strategic Focus on Family Offices and High-Net-Worth Clients
Charles Russell Speechlys aims to capitalize on the growing demand for legal services among ultra-high-net-worth families, particularly those with cross-border interests. The firm’s US strategy focuses on providing advice on estate planning, tax, and wealth management, leveraging its existing expertise in private client work. According to the firm, the US expansion is a natural progression, given that many of its existing clients have connections to America.
Michael Kosnitzky to Lead US Operations
Michael Kosnitzky, a seasoned lawyer with over 30 years of experience in private client law, will head the New York office. He specializes in advising families on complex estate and tax planning, and his move to Charles Russell Speechlys is expected to strengthen the firm’s capabilities in the US market. The firm plans to grow its US team further, targeting additional hires in the coming months.
Competitive Landscape and Growth Ambitions
The launch places Charles Russell Speechlys in competition with other law firms targeting wealthy families, such as Withers and McDermott Will & Emery. The firm’s managing partner, James Carter, stated, “The US is a key market for us, and we are committed to building a significant presence there. Our focus on private client work differentiates us in the market.” The firm reported revenue of £115 million in its last financial year, and the US expansion is part of its broader growth strategy.
Implications for the Legal Market
The move reflects a broader trend of UK law firms expanding into the US to tap into the lucrative wealth management sector. With the number of ultra-high-net-worth individuals in the US growing, firms like Charles Russell Speechlys see an opportunity to offer specialized services. The New York office is expected to serve as a hub for the firm’s US operations, with potential for further expansion into other cities.
