DLA targets asset-based lending work

DLA is continuing its spate of high-profile hires as it takes on the former senior partner of the now defunct firm Wildes.

Simon Boon joins the London office on 1 November where he will head up the receivables financing and asset-based lending group.
Working within the litigation department, he will span a number of practice areas including commercial finance, insolvency, debt recovery and corporate services.
Boon said he was joining DLA because it offered the best opportunity to develop his practice.
“DLA has regional offices and an international alliance and my client base is spread both nationally and internationally,” he said.
“There is a move in receivable financing to develop subsidiaries in Europe which I think is a positive move on the side of the banks. Here [the alliance] D&P will be extremely helpful.”
DLA already has a strong banking practice but Boon will offer a niche in receivables financing.
“There are synergies in our practice. For example, DLA may act for the clearing bank and I may act for the invoice finance subsidiary,” he said.
Boon's clients are UK and US banks, the subsidiaries of clearing banks and USowned financial institutions.
He says that his move is in some respects a response to his clients, which he said were becoming more demanding and frequently wanted a firm that offered a full service.
Boon was forced on to the market when Wildes dissolved in July. At that time it became apparent that the firm no longer had the resources to service receivable and financing companies.