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Jacques McChesney, who has been based in the London office of Latham & Watkins since 1999, will join Shearman’s high yield group in London.
Latham corporate finance partner, Bryant Edwards, said: “We continue to lead the market in this sector in terms of the amount of deals and the high calibre of clients we represent. We expect the offices in our European offices to maintain its strong position in high yield. It’s always been significant for us.”
Both Shearman and Latham & Watkins have built successful high yield finance teams in the London market as well as US rival firms Cravath Swaine & Moore and Simpson Thacher & Bartlett.
While at Latham & Watkins, McChesney advised a number of banks including Barclays on its EUR125m bond issuance for South African industrial group Savcio and Merrill Lynch on its EUR150m issuance for IT Holding SpA.
Latham's high yield team houses four partners and 34 associates. With the addition of McChesney Shearman's team has four partners and 14 associates in London.
Shearman London managing partner, Kenneth MacRitchie, commented: "I think we are very well placed in the London market. We have a fantastic team and we still hold an extremely strong position in the US and UK."
MacRitchie highlighted Citi, Merrill Lynch, Morgan Stanley and Barclays as the firm's main high yield clients.