August’s reputation as a slow month for lateral hires has been turned on its head in recent weeks, particularly considering the shock departure of debt finance rainmaker Neel Sachdev from Kirkland & Ellis. In what is one of the biggest City law moves in the last five years, Sachdev moves to Paul Weiss, taking with him a team made up of debt finance partner Kanesh Balasubramaniam and capital markets partners Matthew Merkle and Deirdre Jones.
The moves establish an English law offering at Paul Weiss for the first time, in a display of serious intent from the firm. Sachdev, previously a top earner at Kirkland and one of its longest-serving partners, has a book of top-tier financial sponsor clients including Apollo, Bain Capital and Strategic Value Partners.
Further, Legal 500 leading individual Roger Johnson has left Kirkland after the firm’s management discovered he was in discussions to take a team to a rival firm. While at press time Johnson’s destination was yet to be confirmed, reports suggest that he is also destined for Paul Weiss in London. And, over in New York, a four-partner team from Kirkland has also joined Paul Weiss, led by debt finance partner Eric Wedel and including Ben Steadman.
‘There is undeniable momentum at Paul Hastings right now, and it’s clear the firm is on an upward trajectory both on a global level and in London.’
Alistair McKechnie, Paul Hastings
Not to be outdone, Kirkland has hired corporate specialist Alvaro Membrillera from Paul Weiss, where he was previously London managing partner.
Outside of Kirkland and Paul Weiss’s musical chairs, the rest of the market has also been busy with several high-profile hires. Infrastructure and energy, disputes and regulatory, and finance have led the pack, with considerable lateral movement across these practice areas.
Infrastructure and energy
In the infrastructure and energy space, Paul Hastings made a recent addition to its team with the hire of Alistair McKechnie after a string of recent prominent hires that include Jessamy Gallagher and Stuart Rowson. Specialising in infrastructure finance and acquisition finance, McKechnie said of his move: ‘There is undeniable momentum at Paul Hastings right now, and it’s clear the firm is on an upward trajectory both on a global level and in London. I watched with interest the hires of Jessamy and Stuart at the start of the year: it was clear they were building something unique in the sense that they go to market as a fully integrated energy and infrastructure practice, combining specialist capability across disciplines, and, crucially, covering both M&A and finance.’
CMS also strengthened its infrastructure and energy team in London, with the appointment of Sinéad Oryszczuk. Moving from Covington, where she previously headed the firm’s UK, Irish and EU environment practice, Oryszczuk specialises in environmental and product stewardship. Her clients span the energy, life sciences, food and drugs, industrial and consumer products, and chemicals sectors.
Shearman & Sterling has suffered further partner losses with infrastructure and projects partners Ben Shorten and Trinh Chubbock moving to Gibson Dunn, where Shorten will head its EMEA projects team. The firm’s projects and infrastructure practice group co-chair and head of private equity in Europe, Federico Fruhbeck, said: ‘When we arrived in the region, we were very quick to build on the private equity infrastructure side of things. Hiring Ben and Trinh helps us expand our capacities in greenfield work.’
Meanwhile, Greenberg Traurig has appointed energy partner Shashank Krishna to lead its London energy practice. He moves from Baker Botts and was previously at McDermott Will & Emery. Commenting on the move he said: ‘The firm’s global energy and infrastructure practice is seeing explosive growth. These are key growth sectors, and the firm is investing heavily in this space.’
On the continent, White & Case has hired Ignacio Paz and Pablo García-Nieto, expanding its EMEA infrastructure M&A offerings. Both partners move from Herbert Smith Freehills (HSF), where Paz headed the firm’s Spanish energy and infrastructure practice, and García-Nieto led its corporate and private equity practice in Spain.
Madrid executive partner and head of White & Case’s M&A and corporate group in Spain, Juan Manuel de Remedios, contextualised the hires within the firm’s continued Spanish expansion, which has seen M&A partner Javier Monzón and debt finance partner Jaime Rossi join from Freshfields and HSF, respectively, in 2022, and Francisco Málaga join from Linklaters in 2022.
‘Strengthening our platform in Spain was a key objective for us,’ said de Remedios. ‘There’s so much money going into the energy transition. Add the fact that there is so much dry powder in the funds that they need to deploy, plus the large deficits being run by many states around the world and the need for private sector investment, and you get a very active infrastructure and energy sector.’
In Singapore, Baker Botts has appointed partner Andrew Roche to its global projects practice. Specialising in project finance and developing infrastructure, natural resources and energy projects in Asia and the Pacific, Roche moves from Ashurst.
Hunton Andrews Kurth has hired energy finance and M&A specialist Philip Mace from Clyde & Co. In comments to Legal Business, Mace highlighted ‘the strength of Hunton’s energy practice and its commitment to the energy sector’ as key reasons for his move. ‘It’s very full-service’, he went on. ‘It’s strong on the corporate side, as well as in environmental and regulatory work.’
In Houston, David Sweeney has been named as the sixth partner to join Clifford Chance (CC)’s recently opened Houston office. He moves from Akin Gump. Commenting on the office opening, he said: ‘Basing a US energy practice out of Houston was a logical move. Clifford Chance is a very global firm, and Houston is more international in reach compared to many other energy markets. If the goal is to develop an energy practice that is top-tier in terms of US-focused work and also fits within an existing global framework, Houston is the right place to do it.’
Allen & Overy (A&O) has also appointed Kfir Abutbul as the head of its energy private equity team in the US from Paul Hastings, where he spent nearly five years as co-chair and vice-chair of its energy and infrastructure team, before which he was also a partner at Kirkland and Willkie Farr. This is yet another significant hire in the US by a Magic Circle firm (for more on this see, ‘Running to stand still’).
Disputes and regulatory
Ashurst recently announced that Philip Chong will join its international arbitration practice in September, moving from DLA Piper where he heads its international arbitration practice in Europe. He specialises in energy and infrastructure disputes and engineering matters.
Elsewhere, Gateley has launched a collective action practice, headed by Chaya Hanoomanjee who moves from Slater and Gordon. Before Slater and Gordon, Hanoomanjee was head of litigation and investigations EMEA and JAPA at American Express.
‘In terms of setting up the practice and distinguishing ourselves from competitors my priority is to make sure we have the right expertise. A lot of firms have entered this market without having experienced individuals who have worked on these cases before and without an awareness that this is a separate area of expertise in and of itself,’ Hanoomanjee explained.
Meanwhile, Reed Smith has appointed Patrick Rappo to its global regulatory investigations and enforcement practice. He joins from DLA, where he was global co-chair of the firm’s investigations and compliance group. Prior to that Rappo was joint head of the Serious Fraud Office’s bribery and corruption divisions.
Elsewhere, David Scott has joined Bryan Cave Leighton Paisner’s financial services disputes and investigations practice. He moves from the Financial Conduct Authority, where he was interim general counsel. Prior to that Scott worked at Freshfields for more than two decades and was its global dispute resolution head from 2015 to 2019.
Over at litigation specialist Stewarts, the firm has made two new hires, with former head of complex litigation at Paul Hastings, Alex Leitch, and Chloe Derrick, previously of Mishcon de Reya, joining the team. Derrick joins as a partner in the firm’s policyholder disputes department.
‘The litigation market at the moment is buoyant, and there is an increasing awareness on the part of clients that you want specialist litigation lawyers, and lawyers who are absolutely free of any conflict,’ Leitch said of his move.
Finance
Norton Rose Fulbright has bolstered its leveraged and acquisition finance team, hiring Christopher Akinrele from Eversheds Sutherland. Akinrele advises clients such as private credit funds, bank lenders, alternative lenders, portfolio companies, corporate borrowers, and portfolio companies.
‘The last couple of years have been a particularly fascinating time to be a leveraged finance lawyer,’ Akinrele said. ‘We’ve seen capital coming from an increasingly wide range of sources, even in challenging macroeconomic circumstances.’
Elsewhere, White & Case has hired Winston & Strawn’s transportation finance practice chair Mark Moody in London. He has particular expertise in the aviation industry and joins the firm’s asset finance practice.
Real estate
Leading the high-profile lateral moves in real estate, Simpson Thacher has hired Angus Lennox to its London office. Lennox will join later in the year, moving from Blackstone where he is a managing director in its European real estate business. Prior to joining Blackstone, Lennox was a senior associate at Freshfields.
In Manchester, CMS has appointed partner Michael Buchanan to its real estate practice group. Buchanan moves from Eversheds Sutherland and advises on urban regeneration development and investment projects, mixed-use schemes, and joint ventures. Meanwhile, Gowling WLG has been joined by real estate partner Wolfram Paetzold in its Frankfurt office.
Employment
Debevoise & Plimpton has hired Sam Whitaker to its corporate department. Moving from Shearman, his practice focuses on employment and benefits, including advising on employment issues relating to a range of corporate transactions.
‘There is an increasing awareness on the part of clients that you want specialist litigation lawyers, and lawyers who are absolutely free of any conflict.’
Alex Leitch, Stewarts
Slaughter and May has seen a rare departure in employment senior counsel Katherine Flower moving to Burges Salmon. Flower was at Slaughter and May for 16 years.
‘I had been looking for a firm that shared my values and ambition, and that was a market leader in employment. Burges Salmon is that firm. The employment team has an outstanding reputation for the quality of its advice across the full range of employment law matters and works with clients from all industries and sectors. It is a great team, and I am looking forward to working with them,’ Flower said.
Corporate
In the corporate world, Baker McKenzie has recruited Fernando Torrente from A&O to head its M&A and capital markets practice. Currently, Torrente leads A&O’s corporate, M&A, and capital markets practice. He has built a strong track record at the firm over three decades in IPOs, flotations, takeovers, and other equity financing structures.
Meanwhile DLA has bolstered its corporate practice, hiring Russell Holden to its London office. Holden, who was a partner at Taylor Wessing for over a decade, has experience advising banks and companies on UK and cross-border transactions, primarily in the real estate, technology, and life sciences sectors.
Elsewhere, Eversheds Sutherland has appointed private equity specialist Gautier Elies to its Paris office. Elies moves over from Weil.