Allen & Overy recruits Gide Loyrette partners to boost Paris bank practice

Allen & Overy has recruited two capital markets partners and one taxation partner from Paris firm Gide Loyrette Nouel, after breaking off a seven-year association with the firm last month.

The hirings mark the next move of A&O's drive to create a strong banking practice in France, and follow the end of its association with Gide which first began in 1989.

Financing and derivatives specialist Pierre Gissinger, taxation specialist Siamak Mostafavi and capital markets specialist Francois Poudelet, all high-profile partners at Gide, approached A&O.

All three previously formed the French part of the Marches de Capitaux, the Paris-based joint venture of English and French lawyers, dealing with international capital markets and derivatives transactions, which was created by A&O and Gide in 1991.

In the New Year the A&O Paris markets and derivatives team will comprise seven partners and 10 associates, headed by A&O derivatives partner Edward Murray and including existing Paris partner Dan Lauder.

A&O senior partner Bill Tudor John said: "We anticipate further growth in our Paris office through the recruitment of leading individuals in the French marketplace, as opposed to a merger with a domestic law firm."

A&O reputedly broke off its association with Gide because it was in merger talks with Paris firm De Pardieu Brocas Maffei & Associes, although the firm denies this.