McDermott Will & Emery is pushing forward with ambitious plans to prioritise its ‘power alley’ transactional practices in London, following the departure of its last remaining private client partners in London.
The firm has been one of the last major US players in London with a private client practice, but following the recent departures of co-heads Nick Holland and Simon Gibb to Maples and Trowers & Hamlins respectively, the firm now no longer has any dedicated private client partners left in London.
The departures are the latest in a series of partner-level exits from the team in London over the last two years. Amira Shaker-Bortman joined Charles Russell Speechlys in April 2024, joining former practice head Ziva Robertson, who moved over in March 2023. Simon Goldring also left that same month, joining Excello before taking up a role at Ogier in Dubai, while Andrew Vergunst – who led McDermott’s London office between 2016 to 2019 – joined Gibraltar-based firm Amcari Limited in January 2023.
Holland, a Legal 500 leading individual for contentious trusts and probate, is joining Maples as head of the offshore firm’s trusts and private client team in London before relocating to the Cayman Islands later this year. He joined McDermott in 2014, before which he led the contentious trust practice at legacy Bircham Dyson Bell. Fellow co-head Gibb, meanwhile, has joined the London private wealth team at Trowers.
McDermott – notably one of the only US firms with a highly ranked private client practice in London – is the latest in a number of major law firms to scale back their focus on private client in London. Allen & Overy spun off its private client team to Maurice Turnor Gardner in 2009, while a Linklaters private client team left to join Fieldfisher in 2019.
In conversation with Legal Business, McDermott chair Ira Coleman (pictured) said: ‘In every healthy organisation, there is a natural flow of talent—that’s just business. The key indicators we prioritise are our growth trajectory and the calibre of talent we’re attracting in the market.’
Given the longstanding strength of McDermott’s private client practice in the US, Coleman added the firm has not ruled out rebuilding its London practice in the future, if the right candidates became available.
‘New opportunities arise all the time,’ he said. ‘For us to maintain a private client practice in London, it has to be exceptional and fully integrated with our other offerings. If an opportunity arises that aligns with our vision, we’d consider it.’
Former partners have suggested that there has been a push from the US to drive up the profitability of the London office. This is evident in the recent salary hike for London associates to $225,000, putting it on par with leading US firms such as Cravath, Milbank and Paul Weiss.
The firm has also been focusing on expanding its transactions team in London in recent months. This move aligns with leveraged finance partner Aymen Mahmoud’s promotion to London managing partner and private equity veteran Graham White joining in March as senior partner.
Drawing on a baseball analogy which refers to the area on the field where home runs are most likely to be hit, Coleman added: ‘We will continue to focus on growing our major ‘power alley’ practices which include, private equity, finance, M&A, controversy, investigations, tax, health and others.’
New hires include Chris Kandel, a Legal 500 Hall of Famer in acquisition finance who joined from MoFo, and Fatema Orjela, a Legal 500 leading partner for mid-market private equity deals who joined from Sidley Austin. The transactions team has also recently been boosted by Michal Berkner from Cooley, Adrian Cohen from Proskauer Rose, and real estate duo Darren Rogers and Devina Rana from Fried Frank.
Mahmoud told LB: ‘It is not a coincidence that many of the recent hires who have chosen to join us are very successful operators in the private capital space: the corporate, financing and asset management spaces which are coveted by every other global elite firm.’
‘It is obvious from our recent hires in London and beyond that our commitment to make strategic hires is greater than ever. That commitment applies across all practice areas and all geographies that make strategic sense for our business today but we are also looking to tomorrow. As our clients’ needs evolve, so will we,’ he continued.
In a May interview with Legal Business, Mahmoud said that the firm is committed to ongoing expansion in London. He also pointed to the addition of White, who previously helped build London PE practices at both Kirkland & Ellis and Linklaters.
Globally, McDermott has seen five-year growth of 96%, with only Kirkland & Ellis surpassing it at 106%. Only four other firms in the 2023 Global 100 have achieved growth of more than 75% – King & Spalding (77%), Willkie Farr & Gallagher (79%), Holland & Knight (82%) and Cooley (87%).
Deals by the team in London this summer include advising asset managers Antares Capital and Blackstone Credit & Insurance on unitranche financing for Five Arrows’ acquisition of Rimes Technologies from EQT. Orjela also advised H.I.G. Capital on the equity arrangements related to its sale of a majority stake in Italian discount retail brand Acqua & Sapone to TDR Capital.
Coleman concluded: ‘As everyone knows, London is one of the best markets for sophisticated legal work but is also one of the toughest nuts to crack. We are keenly focused on matching our service offerings with client needs.’
