Andersen Legal Garretts is taking on its first US-qualified capital markets partner from the London office of New York firm Dewey Ballantine.
Drew Salvest, who has been a partner at Dewey Ballantine for three years and before that was a partner at Brown & Wood, specialises in securitisation and capital markets.
He is the fourth capital markets partner to join the Arthur Andersen-tied law firm, teaming up with former Norton Rose head of capital markets Gilles Thieffry, who runs the practice.
His recruitment is largely down to Douglas Colliver, a former banking and capital markets partner at Norton Rose, who spent two years as a partner at Dewey Ballantine before joining Andersen Legal last year.
The team also boasts new partner Julie Lynch Bridson, who has just joined from Norton Rose, where she was a senior securities lawyer.
Worldwide managing partner of Andersen Legal Tony Williams says: “US capital markets is one of the last pieces of the initial team that we’re building in finance. We’ve now got pretty much the small team that we wanted to start with.
“So much of capital markets work will have a US involvement, so an understanding of the US market is important for that. We don’t want to be restricted on what we can go for. It’s important to be able to structure things so they’re compatible with the US markets as well as with Europe.”
Salvest boasts Merrill Lynch as one of his biggest clients, having last year advised it on a $580m (£404.6m) ship finance securitisation for Alstom’s Chantiers de L’Atlantique shipyard.
As well as specialising in securitisation, he has extensive experience of US Securities and Exchange Commission-registered public offerings, global offerings and private placements.
His move leaves Dewey Ballantine with three capital markets partners in London in an office of nine partners and a total of 40 lawyers. Prague-based capital markets partner Christopher Caperton, who is US-qualified, is set to transfer to London in the summer to fill the gap left by Salvest.
Dewey Ballantine London managing partner Fred Gander says the firm is not expecting any clients or assistants to leave with Salvest.