Despite their playboy tendencies, there must be some kind of deep-seated insecurity gnawing away at the hearts of the City’s high-flying private equity lawyers.
Why? Because it seems that they’re incapable of switching firms on their own. One of the biggest lateral moves of last year came when the Ashurst pair of David Arnold and Gavin Gordon upped sticks for Kirkland & Ellis (see story). Going back through the archives, such big beasts of the leveraged world as Graham White and Marco Compagnoni each brought a buddy along with them when they went off looking for their new homes.
And it’s happened again today with the news that Dewey & LeBoeuf has taken the shopping cart round to Taylor Wessing and come away with its own BOGOF bargain featuring PE chief Mark Davis and partner Russell Van Praagh (see story).
Coming not long after Ropes & Gray swooped from the hills for the juicy morsels that are DLA Piper partners Will Rosen and Kiran Sharma (see story), it suggests that the Americans are looking to go long on private equity.
Either that, or they’re all planning on launching bridge teams.