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Mayer Brown is set to lose its head of real estate and head of debt capital markets in London in separate raids by US firms.
Peter Sugden, who has led the firm’s London real estate group since 2009, is set to join US firm Katten Muchin Rosenman as its London managing partner.
The hire is part of Katten’s efforts to build its core practices in London – real estate and financial services - and follows the February 2011 departure of previous managing partner Martin Cornish to K&L Gates (7 February 2011). Chicago-based Arthur Hahn has been managing the London office most recently.
Mayer Brown real estate partner Jeremy Clay will manage the London group while the firm searches for a permanent replacement for Sugden.
In a statement, Mayer Brown’s London senior partner Sean Connolly said: “Mayer Brown’s real estate group in London had a great 2011 and worked on some of the biggest real estate deals in the market. We’re continuing to grow the practice and as part of that have promoted two real estate partners in 2012. Peter has decided on a change of direction, to manage Katten’s London office. This does not affect our planning to grow the London real estate group which is consistent with our growth plans for the firm’s global real estate group.”
News of Sugden’s departure emerges as Mayer Brown’s head of debt capital markets Drew Salvest is also set to leave to join Jones Day’s London office. Salvest headed up the firm’s debt capital markets team within its finance group, which continues to be led by Dominic Griffiths.
A spokesperson for Mayer Brown said: “We can confirm Drew is leaving the firm and wish him all the best for the future.”