US law firm Vinson & Elkins has opened an office in Dublin with plans to grow its footprint here, having been attracted by Ireland’s clout in the aviation sector.
It is understood there are just three lawyers in the Dublin office at this point but that the group intends to grow this number.
The company, which has about 700 lawyers worldwide and is headquartered in Texas, stressed the move would “strengthen and enhance” its ability to serve clients in the aviation sector.
Ireland is a big player in the global aircraft leasing market. Dublin-headquartered AerCap is the global leader in aviation leasing with about 300 customers worldwide. Alongside Dublin, it has offices in Shannon, Miami, Singapore, Amsterdam, Shanghai, Dubai, Seattle, Toulouse, and other locations around the world.
The lessor, which buys aircraft from manufacturers using a combination of its cash and borrowings and then leases them to airlines and other customers, delivered a record net income of $3.1 billion (€2.9 billion) last year.
David Berkery, a partner in Vinson & Elkins, will lead the new Dublin office. He described the decision to set up a base here as “a strategic move for the firm as we grow our practice and enhance our ability to serve the aviation financing industry”.
Could office construction in Dublin soon come to a full stop?
Mr Berkery, who will be working between the New York and Dublin offices, added: “Dublin is the primary hub for aircraft financing and deserves a US and global chambers-ranked specialist team on the ground.
“I’m immensely proud of the commitment and foresight Vinson & Elkins has shown in making this investment which we see as being of enormous benefit to our clients.”
Keith Fullenweider, the company’s chairman, said: “Our expansion into Dublin strengthens our ability to serve clients in the aviation sector, further reinforcing the firm’s core strengths and commitment to supporting key infrastructure sectors that drive economic growth.”
