Paul Hastings hires Fried Frank securities chief in NY

The New York office of Paul Hastings has hired Fried Frank Harris Shriver & Jacobson’s head of securities and shareholder litigation, Douglas Flaum.

Flaum, a partner at Fried Frank since 1993, joined Paul Hastings as a partner on Monday (17 June). He had been working at the firm since 1986.

It is not yet clear who will be replacing Flaum as head of securities and shareholder litigation at Fried Frank, and no colleagues are expected to be moving over with him. 

Paul Hastings’ litigation chief William Sullivan said in a statement: ”His significant real estate litigation, antitrust and white collar expertise will also complement our strength in these practices areas.”  

Flaum’s arrival in the New York office follows that of Paul Schwartz, a director of the Berkeley Center for Law and Technology who joined Paul Hastings as a special advisor earlier this month. 

In London last week it was announced that Paul Hastings was advising on a plan to distribute shares in RBS and Lloyds Banking Group to the public as part of the banks’ planned privatisations (12 June 2013).

London partner James Cole, who joined Paul Hastings from Weil Gotshal & Manges’ City office earlier this year (18 January 2013), is advising Portman Capital Partners on the proposal, under which qualifying UK taxpayers would be able to register for shares for free.