Akin Gump Strauss Hauer & Feld is taking further steps to raise its profile in London’s closely-knit restructuring market by taking on the former chairman of Eversheds’ corporate recovery and insolvency group.
Jeff Drew has joined the firm’s London office as a partner after leaving his former firm late last year. He becomes the second full-time financial restructuring partner at Akin Gump’s London office, joining Janet Bellwood who was recruited to the US firm from Herbert Smith.
The London market has long been dominated by Cadwalader Wickersham & Taft and Bingham McCutchen, both of whom have built up stellar practices particularly acting for bondholders.
Last October, Akin Gump announced that Daniel Golden, the highly-rated head of its New York restructuring group would work at least one week out of every month at the firm’s London office.
While Akin Gump’s head of London and Houston offices, Rey Stroube, is also a financial restructuring expert.
Last year Drew was involved in acting on the insolvency of Budget Rent A Car, which became the first US company to be put into UK administration and US Chapter 11. Sidley Austin Brown & Wood also advised on the groundbreaking deal.