Banking star David Ereira is set to move to arch-rivals Linklaters, where he will enter the firm’s equity as a plateau partner. Linklaters' top of equity last year was £1.32m compared to Freshfields’ £980,000.
In a separate move, partners Peter Green and Jeremy Jennings-Mares are set to join US firm Morrison & Foerster to launch its structured finance practice in London.
The news of Ereira’s move will come as a blow to Freshfields as the magic circle firm has seen its restructuring practice dwindle in recent months, with losses including Peter Bloxham, who retired last year.
However, Freshfields has identified restructuring as a strategic priority with the hire of former Davis Polk & Wardwell restructuring partner Nick Segal, who joined the firm last year.
Ereira, who has been a partner at Freshfields for more than 15 years, is an all-round banking lawyer with a particular focus on restructuring. His recent work included advising on the Debenhams, Le Meridien Hotel and Primacom restructurings.
Green, has been a partner at Freshfields since 2000, and specialises in cross-border structured products and financing, while partner Jennings-Mare, who joined the firm as a trainee in 1991, focuses on derivatives and structured finance transactions.