Clifford Chance has selected Frankfurt partner Oliver Felsenstein as the new global head of its private equity practice following the exit of David Walker to Latham & Watkins.
It was widely expected that a German partner would take the reins, with Felsenstein and Frankfurt-based Christopher Kellett both tipped as likely candidates (22 April 2013).
Walker quit the magic circle firm to join Latham’s London base last month and is expected to take key accounts such as Carlyle Group’s UK work with him (8 April 2013).
The position is not a formal one on which partners vote, unlike the overall head of corporate role, which is currently held by City partner Matthew Layton.
The news, first reported by German legal website JuVe, comes ahead of Clifford Chance’s annual partner retreat, which this year is taking place in Monte Carlo over the coming weekend (22-23 June).