Clifford Chance Pünder insolvency ace joins Jones Day's practice in Frankfurt

Jones Day has raided Clifford Chance Punder's Frankfurt office for rated insolvency partner Volker Kammel.

Kammel joins telecoms partner Holger Neumann, who moved to the US firm last month from the German practice of Coudert Brothers.

Karl Herold, head of Jones Day's Frankfurt office, told The Lawer. "Expansion of our German practice is at the core of our expansion strategy."

Kammel is a corporate lawyer with significant insolvency and restructuring experience. He will sit in Jones Day's business practice group, which has one other partner in Jeurgen Reemers, another restructuring specialist.

"We can offer our German and multinational clients the full range of services regarding distressed companies," claimed Herold.

Clifford Chance's German operations were among the poorer performing parts of the firm's international network last year.

The firm has also lost a number of partners in the region, including its head of debt capital markets and two other bankers, all of whom went to Mayer Brown Rowe & Maw Gaedertz last year.