Simon Prendergast joins Addleshaw Goddard's banking group as partner
Addleshaw Goddard has announced that asset-based lending specialist Simon Prendergast has joined its banking group as a partner. The appointment — effective from 1 May — is part of the firm’s continued investment in its City offering.
Prendergast joins from Eversheds, where he was head of asset-based lending. At Addleshaw Goddard he will have a national role, working from the firm’s London, Manchester and Leeds offices.
He specialises in asset-based lending, cross-border receivables financing, supply-chain finance and corporate banking, and advises a range of asset-based lenders and other financial institutions, including HSBC and Barclays.
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The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.