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Freshfields Bruckhaus Deringer has made a double swoop on its magic circle rivals to bolster its debt capital markets practice.
The firm has hired Linklaters partner Peter Allen and Clifford Chance senior associate Duncan Kellaway as it focuses on growing its bank facing business.
Kellaway’s hire marks the second time this year that Freshfields has brought a non-partner at another firm directly into the partnership following the hire of high-yield finance partner Gil Strauss from Simpson Thacher & Bartlett in July.
Allen, meanwhile, became a partner at Linklaters in 2009 when he was working in its Moscow office. He moves in the opposite direction from finance partner Chris Howard who joined Linklaters from Freshfields last month.
Freshfields banking chief Alan Newton said: “The debt capital markets are increasingly important in both event driven and ordinary course financing, as well as in refinancings and restructurings. These appointments will make a noticeable difference to how we can service our financial institution clients in this space and we are delighted to have both Peter and Duncan on board.”