Dewey raids Reed Smith for finance team

Dewey Ballantine’s New York office has hired two structured finance partners from Reed Smith.

John Altorelli and Jeffrey Potash, who have experience in private equity, are hoping to bring work from private equity clients such as the Blackstone Group and corporate such as Sara Lee with them from Reed Smith.

Global head of corporate James Fitzpatrick said: “As the lines between private equity, hedge funds and structured finance become increasingly intertwined, practitioners with experience like this are invaluable.”

The hires are a boon to Dewey. As first reported in The Lawyer (19 February), Dewey lost a total of 23 partners last year, nine from its New York headquarters. Up to ten of the total departures were after the planned merger with Orrick Herrington & Sutcliffe, abandoned this January, was announced in October 2006.

Dewey’s New York office has also been lavishing attention on its private equity practice of late, appointing Joseph Smith as the new team chair after veteran private equity head Sanford Morhouse stepped down. Two private equity associates were also made up to partner last year.