Slaughter and May's Australian best friend Allens Arthur Robinson (AAR) has lost its rainmaker and head of M&A Peter Cameron to Credit Suisse First Boston
Cameron has joined Credit Suisse as chairman of the Australian investment banking division, a non-legal position. He said: "I felt I'd achieved all I wanted to in the law." Cameron has spent his entire career with AAR, which he joined in 1976. During the past few years he has built an M&A team ranked as one of Australia's best. Last November, the firm sat at the top of Thomson Financial's Australian league tables, boosted by its involvement with the BHP Billiton mega-merger. The firm also scores well on M&A figures across the Asia-Pacific region. AAR has found an immediate in-house replacement in corporate star Tim Bednall, who will replace Cameron as head of M&A for Asia Pacific. Managing partner Tom Poulton said that Bednall was a natural choice to succeed Cameron. Cameron will not leave for Credit Suisse until March, but Bednall will take over as head of M&A immediately. The loss of Cameron will be a blow to AAR, but there is a silver lining for the firm. Poulton said: "You never want to lose partners of Peter's quality, but if they do go you want them to go to a client."