US firm Winthrop Stimson Putnam & Roberts has poached Linklaters' finance lawyer, John White, as a partner as it prepares to move into new premises in the City.
The firm's expanding UK operation will move into a 20-lawyer capacity office at 54 Lombard Street in July.
It is looking to further boost its UK finance practice at partner level but has also suffered a considerable loss of business with the defection of space and communications finance expert Peter Nesgos.
Nesgos, one of the world's premier lawyers in the field of satellite financing, has moved to rival US firm Milbank Tweed Hadley & McCloy, taking many clients with him.
He will be based in Milbank's New York office but will be actively supporting the UK operation on the four satellite projects the firm is currently handling.
These include the u400m Arianespace structured finance deal.
“We can now stake a claim to be the leading satellite firm,” says Philip Fletcher, partner in charge of the London office.
A spokesman for Winthrop Stimson Putnam & Roberts says Nesgos was the principal satellite expert at the firm and his departure will mean the loss of the regulatory and insurance side of the satellite practice.
However, he says, although some finance work may be lost to Milbanks, the firm will still be active in the financing of projects for clients in the satellite industry.