Icelandic investment company Baugur has looked to its principal law firm Allen & Overy (A&O) to strengthen its in-house legal team.

A&O associate Stuart Hanbury joined Baugur last month after completing an eight-month secondment with the investment house.

He is the second in-house lawyer to join Baugur recently. Last January former SJ Berwin associate Andrew Lobb joined the company as its first in-house lawyer.

A&O has a strong relationship with Baugur, which it reclaimed in December 2004 after losing it to Stoke-on-Trent firm Heatons. The City firm now advises the company on the lion’s share of its big-ticket acquisitions. Most recently Baugur instructed A&O partner Alan Paul on the £351.4m acquisition of House of Fraser.

In addition to A&O and Heatons, Baugur has relationships with DLA Piper and SJ Berwin.