Clifford Chance has poached Allen & Overy financial services regulatory partner Simon Gleeson, its first banking lateral hire in London in six years.
Gleeson is to join as partner in the firm’s financial institutions regulatory practice after eight years at Allen & Overy.
Clifford Chance global head of banking Mark Campbell told The Lawyer: “Our natural tendency is to make partners organically but when there is an area like financial services regulation where the number of suitable people is quite limited, if someone really exceptional comes along, we will look outside the firm if we need to.”
He added: “We have no current intentions to hire further. We already have a very strong team, so we expect most of our growth to come organically. This hire, as well as Carlos Conceiao, is quite exceptional.”
Last month Clifford Chance hired Carlos Conceicao as director of regulatory enforcement. Conceicao, who joins in January, was previously co-head of the FSA’s wholesale group within the enforcement division.
The Clifford Chance move comes just two years after Allen & Overy hired a team of six associates from Clifford Chance in London - who joined Gleeson’s bank regulatory group in November 2004.