Clifford Chance funds chief in shock resignation for Simpson Thacher

Clifford Chance London head of private funds Jason Glover has left the firm to establish a UK funds practice at white shoe firm Simpson Thacher & Bartlett.

Glover’s departure is the second high-profile partner defection to Simpson Thacher after corporate partner Adam Signy left to join the firm’s London office last year (5 May 2009)

The news also comes following last month’s announcement that global head of European competition and regulation Simon Baxter was leaving Clifford Chance to join another US firm,  Skadden Arps Slate Meagher & Flom (14 June 2010).

Glover will be replaced as London private funds team by Edward Gander. The team includes three funds partners, two tax partners and 20 specialist funds associates.

Global head of corporate Matthew Layton said in a statement: “Jason has been a great asset to the firm and we thank him for his contribution over the past 12 years and wish him best of luck for the future.”

Simpson Thacher chairman Pete Ruegger said: “Jason is one of Europe’s pre-eminent private funds lawyers.  His addition to our London office will complement our internationally recognized funds practice group and significantly enhance our ability to meet  the needs of our clients in Europe and globally.”

Head of private equity Tom Bell added: “We are indeed fortunate to have someone of Jason’s extraordinary expertise and reputation joining our practice. His addition will give us an unmatched US/UK law ability to advise clients in this important and expanding practice area.”

Glover’s practice focuses on private fund formation, working with private equity houses including Actis, who he advised in its $2.9bn (£1.99bn) fundraising for Actis Emerging Markets.

Simpson Thacher posted London revenues of $55.2m (£35.5m) in 2009, down slightly from $55.6m in 2008. Its 2009 global revenues were $871m (£558.4m).