Maclays rocked by loss of private equity star to Latham

Latham & Watkins has swooped on Maclay Murray & Spens to snare private equity partner Graeme Sloan, dealing a potentially massive blow to the Scottish giant’s private equity ambitions in the capital.

Sloan, who has been at Maclays for 15 years, is a recognised star performer in private equity circles. He expected to join Latham at the beginning of May as part of Latham’s European push on private equity.

His clients include Candover, Bank of Scotland, Scottish Widows Investment Partnership, which he advised on the establishment of its private equity programme, and Dunedin Capital Partners, which he represented on its acquisition of Sand Aire Investment Management.

Sloan’s skills were highlighted earlier this year in The Lawyer’s Hot 100 2006. It said he had “built up one of the strongest client list in Scotland” and added the firm was “banking on Sloan” to help it spearhead its private equity push in London.

Maclays’ chief executive Magnus Swanson, who said he wished Sloan “every success in the future”, maintained the firm’s strategy remained “unaffected” by his departure. “We look forward to building on our recent successes, particularly in London where we continue to grow and develop our business,” he said.