SJ Berwin loses duo of funds partners to Proskauer
Up-and-coming funds star Nigel van Zyl has quit SJ Berwin for the City firm’s former merger suitor Proskauer Rose, bringing fellow funds partner Oliver Rochman with him.
Nigel van Zyl
Van Zyl, a private equity fund formation expert, joins partners Peter McGowan and Robert Barry in the US firm’s funds team. He is understood to have resigned yesterday (26 July), but the timescale of the departure is not known.
The scoop follows Proskauer’s hire of corporate partners Russell Carmedy and Michael Nouril from Jones Day in the spring (11 April 2011).
Van Zyl made partner at SJ Berwin in 2007 and had been linked with firms including Clifford Chance, where he was tipped as a candidate to fill the gap left by the funds team headed for Weil Gotshal & Manges (13 June 2011). Rochman has been a partner since May this year (6 May 2011).
SJ Berwin was in protracted merger talks with Proskauer last year in a six-month courtship that was seen as unsettling for the British firm. Negotiations were called off in November (12 November 2010).
The firm has seen key partner losses in the past year, with Jon Vivian leading a four-partner real estate exodus to Irwin Mitchell in September (27 September 2010).
Last month competition head Stephen Kon is understood to have resigned from the firm after being voted into the partnership at Milbank Tweed Hadley & McCloy, only to be persuaded to stay (14 July 2011).
Jonathan Blake, senior partner st SJ Berwin, said: “Whilst we’re sorry that they’re [van Zyl and Rochman] leaving, we remain the undisputed market leader for funds with more partners and associates dedicated to this area in the UK and across Europe than any of our competitors.
“Our deep expertise across a very broad team has been built over many years and we’re committed to maintaining and developing that for the benefit of our clients.”
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Readers' comments (24)
Julian Hedgefund | 27-Jul-2011 11:49 am
That leaves Michael Halford as the only SJB funds partner in London with any standing in the market (Blake and Gold are merely figureheads who left the coalface years ago). Who said the US firms would never establish themselves? Five years ago CC and SJB ruled the private equity funds market in the UK. Quite an achievement to be obliterated by newcomers in such a short space of time. Well, there's always mid-market deals I suppose.
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Joe B | 27-Jul-2011 12:05 pm
Spot on Mr Hedgefund. Love Blake's bluster - wholly unconvincing. Couldn't happen to a nicer firm.
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Anonymous | 27-Jul-2011 12:19 pm
This just goes to show - what goes around, comes around. I know that there are many ex-SJ Berwin associates who will be delighted at this news.
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Anonymous | 27-Jul-2011 12:32 pm
Julian Hedgefund is absolutely correct. The once pre eminent funds practice has now lost Mark Mifsud, Richard Watkins Justin Dolling plus their team many who are now also partners to Kirkland; John Daglian and Solomon Wifa to O'Melveny; these two to Proskaur; Bruce Gardner to Sidleys and probably a number of others that I cannot recall.
Maybe Blake will have to get back into practice?
That may be the only way to save the funds practice and gives him a face saving way to exit as senior partner before the election??
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Anonymous | 27-Jul-2011 12:40 pm
This is a disaster for SJB - like Julian Hedgefund says, really it only leaves Halford as Blake and Gold are no longer highly regarded in their practice.
Blake as ever is unconvincing with his response - when oh when will they learn?
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Anonymous | 27-Jul-2011 2:26 pm
And just desserts for SJ Berwin, really.
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Anonymous | 27-Jul-2011 3:27 pm
Wow! have I missed something? Where does all this bile and delight at SJB expense come from? Anyone care to fill me in?
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Anon | 27-Jul-2011 3:36 pm
Few firms deserve this more richly than SJ Berwin. And that's really saying something after the last few years of stealth redundancies et al in the City.
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Anonymous | 27-Jul-2011 3:55 pm
(Seriously) why does everyone apparently SJ Berwin so much? I'm merely a lowly barrister who has never been instructed by them so I have no idea what the firm is like, myself.
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QT | 27-Jul-2011 4:00 pm
David Ryland is also still there. I imagine someone will be after him soon. If he goes too, SJB are doomed.
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