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Berwin Leighton Paisner (BLP) investment partner Tim Spangler has defected to New York firm Kaye Scholer to head up its global investment funds practice.
Spangler will start his new position on Monday (9 October).
Before Spangler’s arrival, Kaye Scholer had no dedicated investment funds practice, although its New York and Chicago finance lawyers undertook funds work.
Dual-qualified, Spangler joined BLP in 2002 from Latham & Watkins. His client list includes Schroders, Morgan Stanley Private Wealth Management and Gulf International Bank (GIB).
He had been considered one of BLP's star partners, having teamed up with corporate partner David Collins to lead the firm's team that beat off Linklaters, Akin Gump Strauss Hauer & Feld and Simmons & Simmons to secure a place on GIB’s panel of legal advisers.
Kaye Scholer, which boasts average partner profits of well over $1m, has only a small London offering with six lawyers, only one of whom is partner.
Spangler’s arrival means the office will be able to offer a whole new practice area, its work hitherto being limited to private equity, corporate and M&A, and project and structured finance.
London managing partner Guilherme Brafman told The Lawyer: “Tim is joining us to spearhead the international aspect of our funds practice, and we’re thrilled to welcome him. He’s a very dynamic lawyer in a high-priority area for us.”
Although no other new laterals have been signed as yet, the London office is looking to further expand, Brafman said.