Wall St firm beefs up maritime crew

Leading Wall Street law firm Carter Ledyard & Milburn has beefed up its own maritime capability by raiding four partners from a neighbouring niche transportation practice.

Carter Ledyard has poached four shipping-related partners from Haight Gardiner Poor & Havens, and has not ruled out the recruitment of more lawyers from the firm as part of its drive to boost its maritime practice.

Carter Ledyard & Milburn, which has two New York offices and another in Washington, recently completed a landmark $200m securitisation for Sea Container, and also has the New York Yacht Club on its client list.

The new partners will be the firm's first full-time maritime lawyers.

Robert McTamaney, chair of Carter Ledyard's corporate department, said the Sea Container deal had encouraged the firm to develop its maritime practice.

He added that he was currently looking for more maritime lawyers and did not rule out the possibility that they would come from Haight Gardiner.

Brian Starer, chair of Haight Gardiner Poor & Havens, now reduced to 31 partners, said: "We do not expect to lose any associates with the partners' move and we're confident that we won't lose any further lawyers."