Freshfields makes key City hire with Shearman project finance partner

Freshfields Bruckhaus Deringer has made a rare lateral hire in London with the addition of Shearman & Sterling finance partner Tim Pick.

Ted Burke

Pick was a partner and head of the US firm’s international project development and finance group, focusing on the energy and natural resources sectors in Emea. His areas of specialism include projects in the oil and gas sector, as well as power projects.

Pick joined Shearman from Trowers & Hamlins in 2000 as an associate in Abu Dhabi. He later moved to London and replaced Nick Buckworth as head of the Emea project development and finance group in 2011 when Buckworth become London managing partner (17 May 2011).

His clients have included Société Générale, Woodside Petroleum, Arco (now BP), HSBC, Barclays, Alcoa, Rio Tinto Aluminium and BG Group.

Pick’s replacement as Shearman’s global projects and finance head has not been confirmed.

Freshfields managing partner Ted Burke said in a statement: “We anticipate huge activity and investment in the energy markets over the foreseeable future as energy demand continues to grow faster than resources can be replaced. Tim Pick brings a fantastic wealth of experience in advising clients in the energy sector, along with a strong commercial focus. He’ll complement our existing global credentials to help capitalise on opportunities for growth.”

Rae Smith, who heads Freshfields’ international energy project finance group, added: “Despite continued economic uncertainty, the increasing global appetite for energy and the challenge of ensuring long-term security of supply are global fundamentals that remain. Tim’s in-depth expertise in the energy sector and project finance in Europe, Africa and the Middle East, and his exceptional client focus, will further boost our global offering in this area but in particular on large-ticket energy project financings.”

The hire comes after Freshfields signed up Allen & Overy finance partner Alan Rae Smith in 2010 (30 April 2010), with his move followed last year by the recruitment of Gavin MacLaren from Allens Arthur Robinson (now Allens), who is now based in Singapore, and Tokyo-based Mark Plenderleith from Milbank Tweed Hadley & McCloy (12 April 2012).

Last year Shearman added to its London projects offering by recruiting Ashurst partner John Inglis (10 January 2012) following the retirement of former City chief and project partner Kenneth MacRitchie to join UK Green Investments as general counsel (22 December 2011).

Shearman’s Buckworth told The Lawyer: “We’re a leading global energy business. We’ve got 17 partners, we’re focused on the high-end, complex energy infrastructure projects. We’ll continue to grow. We’re a priority business from Shearman & Sterling. We’ll continue to grow sensibly, primarily through the promotion of internal talent and strategic lateral hiring. We’ll continue to go from strength to strength.”