Freshfields elects new finance joint chief

Freshfields elects new finance joint chiefFreshfields Bruckhaus Deringer has elected Alan Newton as its new joint practice group leader (PGL) of global finance.

Newton is currently head of structured finance and will begin in the new position on 1 August, taking over from Perry Noble who recently announced his retirement from Freshfields’ partnership (The Lawyer, 18 April 2008).

Newton said: “With the global economy and its finance needs changing rapidly and in ways that are more difficult to predict, we have to keep adapting and improving to exceed our clients’ expectations.

“The finance platform we have to respond to the challenges of today’s global markets could not be a better basis from which to develop our distinctive highly skilled, versatile and client-centric internationally integrated finance offering.”

Newton will share his new role with Frankfurt based Dirk Schmalenbach, who has been co-head of the global practice with Noble and is to continue until August 2009 when his term expires.

Newton advised on what was purportedly the first-ever UK securitisation in 1987. Between 1998 and 2001 he has been in Freshfields’ Milan office.

Most recently he was the lead partner advising Northern Rock on its difficulties arising from the credit crunch.