It’s always tough when the kids pack up their suitcases and fly the nest. But for Clifford Chance, this week, it’s been harder than most.
It was announced yesterday that one of the magic circle firm’s rising private equity stars, Tom Evans, is to plump his feathers and take the leap to Latham & Watkins – following in the footsteps of Clifford Chance’s global private equity head David Walker who made the same move just six months ago.
Young Evans only graduated from senior associate to partner level in May, but was widely tipped as one of the practice’s rising stars having worked for key CC clients including Permira and UK Investment Partners.
No doubt the news has resulted in some furrowed brows in CC’s private equity boardrooms. The practice has had a bumpy ride over the last few years, following the disbanding of its so-called ‘30C’ elite in 2008, and a number of high-profile partner exits.
Still, hopefully Evans will be able to start settling into his new home at Latham within the next 18 months.
He should perhaps spare a thought for Field Fisher Waterhouse’s privacy and information head Eduardo Ustaran, who is only just embarking on the 18-month notice period (yes, you read that right) necessary for senior equity partners at the firm before he’s allowed to jump ship to Hogan Lovells in May 2015. A year and a half to wait, and not even gardening leave.
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