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Shearman & Sterling's London office is losing a project finance partner, believed to be the first partner to leave since the firm launched its UK law capability in 1996.
Rupert Walker, who was one of the founding lawyers in the UK law practice when he moved to Shearmans from Milbank Tweed Hadley & McCloy in London, is leaving to work in a trust company in Jersey.
Described as a "lifestyle choice" by the firm, his move reduces the project development and finance group from six to five City partners. Nigel Thompson was promoted to partnership earlier this year.
Walker's practice includes advising commercial lenders, sponsors and multilateral agencies on structuring and financing major infrastructure projects, especially in the power sector. His biggest deals include advising France Telecom and other sponsors on the long-term project financing for the Egyptian Company for Mobile Services, and representing PowerGen on the financing of the 390MW Csepel Power Project in Hungary.