HSF’s Schaffer to join Magic Circle firm later this year
After first breaking its duck three years ago in Hong Kong with the hire of Morrison & Foerster’s co-head of China capital markets John Moore, last month Slaughter and May caught the eye by making its first-ever lateral hire in London.
Herbert Smith Freehills’ (HSF) head of pensions Daniel Schaffer will join Slaughters’ pensions and employment group, which currently comprises four partners and 25 associates.
‘This is not a major change in the firm’s hiring strategy,’ said one Slaughters partner. ‘The practice required further senior capacity to service one of the firm’s more specific and smaller practices, particularly in large and complex matters that require experienced lawyers.’ They added that the practice had been busier than usual in recent years.
‘Given the age of current partners in that practice, the firm had to think about the future and succession, and be smart about it,’ added another partner. ‘Dan is someone the firm knew very well for a number of years; he has stellar abilities and fitted in perfectly.’
‘Given the age of current partners in that practice, the firm had to think about the future and succession, and be smart about it.’
Headed by Jonathan Fenn, Slaughters’ pensions practice has had recent key mandates such as advising Pirelli in September 2016 on the impact of its takeover by China National Chemical Corporation and advising ARM Holdings on the share plan aspects of its acquisition by SoftBank in July last year.
Schaffer is likely to join Slaughters in late summer this year, although he is currently still negotiating his exit from HSF and the Anglo-Australian firm is known to be inflexible over partner exit terms. At present, the firm has a six-month notice period and a six-month covenant, which is currently the subject of a legal dispute involving a group of eight partners who quit the firm in Australia to join White & Case.
While pensions remains a small group within Slaughters, there are plans to further enlarge and refresh the practice in the next couple of years, most likely through the increase in the number of qualified trainees and associates who join the team.
georgiana.tudor@legalease.co.uk