Weil Gotshal & Manges has raided Linklaters’ City office for the hire of banking partner Stephen Lucas.
Lucas was part of the Linklaters team that in 2009 advised a consortium of banks led by Commerzbank and RBS on the restructuring of German company Schaeffler’s debt (20 August 2009). The deal, which paved the way for the all-bearing maker to merge with auto-parts manufacturer Continental, was one of the largest debt restructurings to take place in Europe that year.
He also has strong relationships with Goldman Sachs and Citigroup. As a junior lawyer he did secondments at Barclays Capital, Citigroup and HSBC.
It is understood that Linklaters global banking chief Robert Elliott, who will take over as the firm’s senior partner in October, informed the firm’s banking practice of Lucas’s departure over the weekend.