Eversheds is beefing up its London finance capability by relocating real estate finance head Nick On from Newcastle to the capital.
On’s relocation comes after a record year for Eversheds’ real estate team, which has leapfrogged Clifford Chance to become the UK’s largest, as rated by turnover. Last year the 73-partner department brought in £84m, which amounts to 26 per cent of Eversheds’ total turnover.
Finance partner David Boyd said: “It makes sense for Nick to be seen to be leading real estate finance from London. We’ve made great strides with banks in real estate finance, as they can see our presence in the sector.”
On’s clients include Bank of Scotland, HSBC and Barclays.
In October 2005 Eversheds head of litigation John Heaps made a similar move to boost his department’s profile.