Faegre gains Gaines for US home base

Former London-based Vinson & Elkins and Baker & McKenzie partner Peter Gaines has quit the UK to join Minneapolis-based Faegre & Benson.

Gaines quit Vinson last October after the firm failed to establish a lender-based finance practice out of London. He had joined Vinson from Baker & McKenzie in November 2001, with the intention of building up the firm’s work for lenders.

His move to Minneapolis will surprise many who expected him to stay in his adopted home of London. In Gaines, Faegre has landed a heavyweight finance lawyer, who is particularly well known for his project finance work, but also has experience in acquisition and structured finance.

Gaines’s major projects include advising Petrobras on a $2.5bn (£1.37bn) project of several offshore oil and gas fields in Brazil.