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Herbert Smith has hired a senior associate from Allen & Overy’s Moscow office in a bid to shore up its local finance capacity.
Ed Baring joins Herbert Smith as a partner, taking the partner headcount in the office to nine.
Herbert Smith’s Moscow managing partner Allen Hanen said in a statement: “Russia has one of the most dynamic economies in the world and has seen a decade of enormous growth. It also has shown over time that it has one of the largest syndicated loan markets.”
Baring will focus on project finance, working alongside finance partners Alexander Currie and John Balsdon.
Baring most recently advised Deutsche Bank and Aareal Bank on the $216m (£137.17) acquisition of the Pushkino Logistics Park and also advised Deutsche Bank on the $3.45bn (£2.19bn) loan facility for Russian state oil company Rosneft.
In September of this year Herbert Smith hired Evgeny Zelensky, previously one of Renaissance Capital’s most senior in-house lawyers.