A&O restocks London banking team with Goldman hire

Former Allen & Overy (A&O) senior associate Denise Gibson is to rejoin the firm as a banking partner following a stint at Goldman Sachs.

Gibson will be joining A&O’s London leveraged finance practice as a partner later in the year. The firm confirmed the move but did not want to comment further.

The Lawyer understands that Gibson left the firm for an in-house role at the bank two years ago.

The firm’s banking practice saw the biggest intake this year, with seven made up across the firm’s global network although only one made up in London. It was the smallest partnership promotions round since 2010, with a total of 19 associates taken into the fold (11 April 2013).

The number of promotions is down 17 per cent on 2012, when 23 were added (30 March 2012) and banking was again the practice area with the most promotions (nine globally, two in London). In 2011 21 lawyers made the grade (4 April 2011) and in 2010 it was 18 (31 March 2010).

Although there is little available data on A&O’s relationship with Goldman Sachs on debt deals, A&O gained roles on five equity capital markets (ECM) deals for Goldman Sachs between 2008 and 2011, the biggest being online retailer Ocado’s £369m IPO in 2010 where corporate partner Louise Wolfson acted for global coordinators Goldman, UBS and JPMorgan Cazenove opposite Slaughters.

However magic circle duo Freshfields and Linklaters dominate the list of Goldman Sachs’ equity capital markets (ECM) advisers. Linklaters won the role for the banking syndicate on Goldman’s second-biggest City deal since 2008, with corporate partner John Lane acting for underwriters Goldman and JPMorgan Cazenove on HSBC’s £12.85bn rights issue.