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Milbank Tweed Hadley & McCloy has moved to rebuild its corporate department by hiring former Allen & Overy corporate partner Stuart Harray.
After already losing two corporate partners this year, Harray, joins the US firm today. He was most recently a partner at Russell McVeagh in New Zealand.
Harray said in a statement: “The combination of my background, Milbank’s strength in infrastructure financing, and Milbank’s prominent private equity practice, should very naturally point to us as a firm of choice in Europe for infrastructure private equity investors.”
He had been at Allen & Overy for seven years, leaving the magic circle firm in 2005. M&A specialist Harray has particular expertise in the energy, infrastructure and utilities sectors.
As first reported on thelawyer.com (5 February), the firm’s London corporate team was in tatters as European head of M&A and private equity partner Michael Goroff announced his decision to follow Tim Emmerson out of the exit door. Goroff’s departure this summer would have left the firm with no M&A partner in the London office.
Goroff’s departure closely followed Emmerson’s decision to leave for Sullivan & Cromwell last month (January). Emmerson and Goroff had created strong relationships with clients such as Goldman Sachs and Apax Partners
At the same time, Milbank has announced the expansion of its corporate practice into Frankfurt. The firm’s Frankfurt office has up until now, focused on banking and finance law advice with corporate/M&A and tax advice being given Munich office.
However, the firm has announced that from March, Milbank corporate partner Norbert Rieger will spend time in the Frankfurt office with senior associate Peter Memminger fully transferring from Munich to Frankfurt. The firm is also looking to recruit corporate associates for the Frankfurt office.
Milbank London managing partner Phillip Fletcher said: “The addition of Stuart Harray and the establishment of a Frankfurt corporate practice are just the latest of a set of important developments, and more would follow in our core practices”.