Fried Frank has lost the head of its European capital markets and finance practice to Milbank.
Tim Peterson, a corporate partner since 1992 and resident in Fried Frank’s London office, joined Milbank today (28 March). He specialises in international debt and equity securities offerings, leveraged finance and debt restructurings.
Peterson’s clients include Virgin Media, which he advised on its £1.5bn bond issue last year, Goldman Sachs and BNP Paribas.
Peterson, described by one lawyer as “a Fried Frank lifer”, is the latest in a growing number of partners to join Milbank’s London office from rival firms.
Last November Weil Gotshal & Manges securities partner Peter Schwartz joined Milbank, bringing with him his relation-ships with Goldman Sachs, Deutsche Bank and Citigroup.
Schwartz was followed by three Weil associates as well as a trainee and a secretary at Milbank.
Other significant recent Milbank hires include litigation partners Julian Stait and Tom Canning from DLA Piper, as well as aircraft finance partner James Cameron, also from DLA Piper.
Peterson’s arrival doubles the high-yield partner capacity in Milbank’s City office.
Fried Frank did not return calls for comment.