Bingham McCutchen has snapped up former DLA litigation head Neil Micklethwaite as it prepares to launch a litigation and regulatory practice in London.
Finance partner James Roome told The Lawyer: "There’s a synergy between the growth of litigation in the States and a leading financial institutions practice here, and we can see the growth on the regulatory side.
"Neil’s arrival is the next step in the development of our London office as we continue to expand our practice in representing financial institutions. His role is to expand the litigation and regulatory component of our existing practice for creditor and investor institutions based in London."
Along with Cadwalader Wickersham & Taft, Bing-ham McCutchen has become one of the leading firms for bondholder work, but unlike Cadwalader, it lacked a formal UK litigation capability. Bingham was active for the bondholders on Marconi and has since been involved on TXU. It is currently acting on Jarvis.
Bingham is understood to have moved litigation up the strategic agenda following the merger between Bingham Dana and McCutchen in 2002. Contentious work now accounts for some 50 per cent of the firm’s business.
Micklethwaite was formerly a senior figure at DLA and was one of what DLA sources dubbed the ‘Holy Trinity’ of management, along with Nigel Knowles and Andrew Darwin. He left the UK firm earlier this year. He said: "This is an exciting opportunity to join a firm that has a focused and highly successful practice in London, which is closely complementary to my own litigation practice on behalf of financial institutions."