In the past few months, Freshfields Bruckhaus Deringer has gone through its very own transfer season to try and beat the competition in the US market.
The struggle across the Atlantic continues with magic circle firms trying to claw back lost ground and cement global deals in the US leveraged finance market.
This week Freshfields added two partners, formerly of elite US firms, to the newly created roles of M&A and leveraged finance heads in the US. Freshfields’ strategy is clearly to fight back against the seemingly one-way flow of finance talent from magic circle firms to the US.
The firm has taken on former Wachtell partner and the co-founder of private equity firm Paine & Partners, Mitchell Presser, as well as former Skadden partner James Douglas.
The hires, a bid to cement the firm’s presence on global deals, reflect the increasing importance of the US for leveraged finance.
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