The hike in restructuring work in New York has forced Allen & Overy (A&O) to relocate senior restructuring partner David Frauman after his six-year secondment in London.
Frauman has returned to New York as the firm looks to globalise its restructuring expertise.
A&O New York managing partner Kevin O’Shea said: “There’s a strategic dedication to build up globally in restructuring. We encourage lawyers to move around the network and Frauman’s experience in cross-border restructurings has been extremely valuable in London. Given the increase of restructuring work in New York, we felt we needed him here to deal with increased demand.”
Frauman played lead roles on high-profile restructurings such as Eurotunnel, Telewest and Marconi.
A&O has also increased its restructuring capabilities in the UK (The Lawyer, 3 November).