The head of capital markets and hedge funds at Weil Gotshal & Manges’ London office has left the firm for the City base of Paul Hastings.
James Cole, who has worked at Weil’s London office since 2003, has joined Paul Hastings in the newly created role of capital markets head.
A source told The Lawyer that Cole will be taking a number of clients to Paul Hastings with him, though it is not yet clear which clients these are. In the past he has advised Citibank, Deutsche Bank and Credit Suisse.
Further hires in this department are also tipped for the near future, with the Paul Hastings London chair Ronan O’Sullivan telling The Lawyer that the firm’s capital markets practice is a key area of growth for its London, Asia and New York offices.
“Almost all of what we do has a cross-border element,” he said. “So this hire is as significant for London as it is for Asia.”
According to both O’Sullivan and Cole, the appointment will not lead to any change in strategy for the firm’s City capital markets group. “We’ve been pretty consistent with our strategy in this practice area because we look at things globally,” said O’Sullivan.
The hire continues the expansion of Paul Hasting’s London corporate practice, with Clifford Chance finance partner Neil Hamilton joining the firm in October (17 September 2012), Ashurst finance partner Ugo Giordano joining in July (3 July 2012) and Hengeler Mueller London partner Karl Balz, who splits his time between the UK and Frankfurt, joining in January 2012.
Cole’s replacement at Weil has not yet been announced.