CMS Cameron McKenna private equity partner Richard Bull has quit for the London office of Norton Rose Fulbright.
Norton Rose Fulbright today confirmed that Bull will join the corporate, M&A and securities practice, although his start date is not yet clear.
Norton Rose Fulbright global head of financial institution James Bateson said: “Despite the challenging financial market, private equity investors have continued to invest across many asset classes and sectors, particularly financial institutions. Richard is a rising star and he will offer much to our clients in this space.”
Last month The Lawyer asked Bull which private equity partners he would recommend (24 June 2013). Bull said: ”There are a number of talented private equity lawyers at CMS, but if I had to choose one outside I would go to David Bresnick (Morrison & Foerster) or Adam Greaves (Jones Day) – both gentlemen and excellent lawyers.”
He added: “Private equity is now a mature asset class and sponsors have the experience and appetite to do complex deals in regulated and non-regulated sectors. Therefore, to add real value and be credible, private equity lawyers must now have genuine sector expertise and up-to-date market knowledge. This approach and our alignment to our clients’ sectors has been key to our success.”
The confirmation follows news today that an eight-partner team have quit Norton Rose Fulbright to join Baker Botts in the Middle East (16 July 2013) amid a rift between the post-merger firms legacy UK and US arms.
The movement of senior lawyers in the private equity sector has resulted in the diversification of an industry that was historically dominated by just a handful of firms – most notably Clifford Chance and SJ Berwin – in the 1990s. However, research by The Lawyer revealed strong evidence that, despite the rising profile of in-house private equity lawyers, deal teams’ personal relationships with individual law firm partners continue to influence adviser selection.
Read more in The Lawyer’s 70-page private equity report.