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22 January 2009
Clifford Chance has ramped up its New York corporate finance capabilities, snaring a partner from Cahill Gordon & Reindel.
Gary Brook will join the New York office advising financial institutions on leveraged lending, debt restructurings and securities offerings and acquisition financing.
Clifford Chance US head Craig Medwick said: “The leveraged finance markets are evolving as a result of the credit crisis and other global economic forces.
“Gary’s experience and skills will be key in our efforts to position the firm's banking and capital markets groups to perform leading roles in the markets of the future.”
Earlier this month the magic circle firm hired Bill Blumenthal from the US Federal Trade Commission to ramp up its M&A and antitrust capabilities (6 January).
In the UK the firm embarked on a redundancy consultation earlier this month which will see 70-80 lawyers made redundant (8 January).
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Paul | 21-Jan-2009 2:18 pm
fell off my chairyou have to wonder what on earth is going on in CC New York, recruiting a leverage finance partner and from a third tier firm at that, in the current market, with leverage finance being dead, is crazy
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Anonymous | 21-Jan-2009 3:03 pm
Whatever happened to the old Rogers & Wells?Agree with Paul - strange move. I hope he's bringing a nice book of business along with him, though I doubt it. One thing I would differ on - Cahill is not a Third Tier firm. They are smaller than many of the AmLaw monsters, but their talent is top notch.
Anonymous | 22-Jan-2009 10:45 pm
whoahCahill's corporate finance team is definitely not Third Tier. My understanding is that Cahill rarely loses partners to other firms. You have to wonder what's going on over there to elicit this move, although I suppose this current crisis is an appropriate backdrop for some strange moves.
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