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Linklaters has continued its assault on its magic circle rivals with the hire of Clifford Chance private equity star Ian Bagshaw.
Bagshaw, the second highest biller in London during 2005-06, is the third magic circle partner Linklaters has hired in less than a week.
Bagshaw’s appointment is Linklaters’ first move to rebuild its private equity practice following the departure of partners Graham White and Raymond McKeeve to the London office of Chicago giant Kirkland & Ellis.
Following the departures, M&A partner Charlie Jacobs assumed responsibility for the private equity business while senior associate Richard Youle who worked closely with White and McKeeve was promoted to partner.
Bagshaw’s move to Linklaters will reunite him with Youle as the duo are close friends, having worked together at Eversheds.
Bagshaw, who has been a Clifford Chance partner since 2004, works closely with fellow private equity partner Adam Signy and is one of the lawyers of choice for private equity house Candover. He also counts Blackstone Group as a key client having acted for the buyout house on the float on Southern Cross Healthcare last summer.
Linklaters' hiring spree began last Friday (26 January) when the firm appointed Freshfields Bruckhaus Deringer banking partner David Ereira who is joining Linklaters as a plateau partner, as first revealed on www.thelawyer.com (26 January).
That move was swiftly followed by the hire of Italian-qualified banking partner Davide Mencacci from Allen & Overy’s Milan office.
As first reported on www.thelawyer.com on Monday (29 January), Mencacci is Linklaters’ first lateral hire in Italy since the firm split from its Italian ally Gianni Origoni Grippo. The split meant Linklaters had the fewest partners on the ground in Italy of any magic circle firm.