Finance duo Allen and Goetz quit Freshfields
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High-profile banking partners Maurice Allen and Mike Goetz have left Freshfields Bruckhaus Deringer just over a year after joining the magic circle firm.
Maurice Allen
Allen and Goetz joined Freshfields from US firm White & Case last March (17 March 2008). They were charged with helping the magic circle firm build up its banking practice.
One London banking partner said: “They’re natural entrepreneurs and used to controlling their own assets, and Freshfields isn’t a start-up.”
Last year The Lawyer reported that Allen and Goetz left White & Case due to a dispute with a management overhaul that left London without adequate representation on the global committee (11 March 2008).
Allen played crucial role in building a successful banking practice at White & Case, working for high profile global clients such as Deutsche Bank.
At this stage it is unclear what the pair’s next move will be. It is understood that Allen is on holiday in the Caribbean for the next two weeks. Goetz has spent today saying goodbye to colleagues at Freshfields’ London office.
An internal memo informed the Freshfields partnership of the departures this afternoon.
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Readers' comments (22)
Jimmy McNulty | 3-Aug-2009 3:44 pm
Well, well, well. The casulaties of the downturn just keep on mounting...
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Anonymous | 3-Aug-2009 4:09 pm
I suspect Maurice and Mike struggled to fit into the magic circle environment. It must have been quite a different experience to White & Case. They were quite high up the food chain. At Freshfields they were just two partners.
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Anonymous | 3-Aug-2009 4:14 pm
They should go back to White & Case. White & Case needs some real rainmakers there to prevent it from collapsing.
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Conan the Barbarian | 3-Aug-2009 4:18 pm
It was only ever a matter of time... Freshies had clearly taken temporary leave of its marbles when it recruited these two. As inidividuals they have their merits but they were always a bad fit with Freshfields culturally and in terms of strategic direction. Plus the timing of the move could hardly have been worse - two senior leveraged finance partners coming in at the top of the lockstep just as the market collapsed.
Ted Burke must be glad Perry Noble is no longer in charge of the finance department! I wonder if they will ever be allowed to make another lateral hire???
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Anonymous | 3-Aug-2009 4:23 pm
These two appear to change firms as frequently as I change my socks. Surely what they should do is establish themselves as Allen & Goetz LLP and see how they fare in the market entirely under their own steam?
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Anonymous | 3-Aug-2009 4:31 pm
These guys build banking practices - and are great at it. Huge loss for Freshies, just like it was a huge loss for White & Case last year.
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Benny | 3-Aug-2009 4:33 pm
It's almost surprising they lasted a year.
Hiring Allen and Goetz was a very opportunistic move by Freshfields, to put it kindly.
Now that the "opportunity" of leveraged finance has gone down the toilet, it's hardly surprising these two suddenly find themselves surplus to requirements.
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Anonymous | 3-Aug-2009 4:42 pm
Paul Maher: Is that you, Maurice?
Maurice Allen: Paul, great to hear from you.
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Anonymous | 3-Aug-2009 4:52 pm
Oh Benny - you really have no idea and are clearly a short termist (talking your own game up no doubt - are you a restructuring lawyer who thinks he can be a finance lawyer per chance ?) - these two are great characters and great assets to any firm - leveraged finance Benny will continue in a different form - it hasn't gone "down the toilet" despite what so many cynical and tiresome individuals may be trying to promote for their own benefit to improve their own position in their respective firms - it will need talented lawyers (like Maurice and Mike) to help with its future - whoever gets them will do well in the long term - short termists this isn't one for you but it will be your loss and the gain of the firm(s) with enough foresight to see the potential here.
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Nick Budd | 3-Aug-2009 4:59 pm
Maurice & Mike are great salemen and this seems to be a big part of being a finance lawyer these days. I agree with Anonymous that "Allen & Goetz LLP" has a nice ring to it.
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