In a surprise move, Allen & Overy (A&O) has taken back its erstwhile financial services regulation head Bob Penn from Cleary Gottlieb Steen & Hamilton after only two years away, while White & Case eyes the lucrative funds market with the addition of a new partner to its global banking practice in London.
Penn’s departure in April 2016 from A&O after 17 years to Cleary was a rare high-profile exit for the Magic Circle firm and a rarer-still acquisition for Wall Street-bred Cleary.
