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Addleshaw Goddard’s burgeoning finance department has poached Simmons & Simmons’ head of banking Nicholas Fisher.
The hire comes as the firm reports a 35 per cent increase in fee income for the last five months, compared with the same period in the last financial year. The department as a whole has billed around £20m in the last financial year.
Contractually, Simmons could hold Fisher to a six-month period of gardening leave, but sources inside the firm indicated that he will be allowed to leave immediately.
Fisher will take on overall responsibility for acquisition and leveraged finance nationally.
The firm currently works with Barclays, HBOS, HSBC and the Royal Bank of Scotland, and expects Fisher to play a role in developing those relationships.
He advised Barclays while at Simmons, but his main reputation at the firm was as the partner of choice for referrals from the corporate department. He did borrower work on the firm’s talismanic Northumbrian Water deal and also advised on the high-profile Canary Wharf bid.
Fisher is the seventh partner to quit Simmons in the last few months.