Cadwalader Wickersham & Taft has ramped up its London asset-backed securitisation team with the hire of two partners from Mayer Brown into its global capital markets practice.
The hire of US securitisation and structured finance partners Bruce Bloomingdale and Jeremiah Wagner from Mayer Brown’s London office comes a year after Cadwalader made an earlier raid on its UK finance team, hiring structured finance partner Stephen Day (24 August 2012).
Gregory Petrick, the managing partner of Cadwalader’s London office, said the hires were a reflection of the firm’s strategic plan to build around core strengths in the City, notably asset-backed securitisation.
“Our strategy is to be the best in class in the areas in which we practice,” said Petrick. “Bruce and Jeremiah joining our London structured finance team is consistent with that strategy. We expect additional growth when excellent lawyers practicing in our core areas are available opportunistically. That certainly was the case with Jeremiah and Bruce.”
Bloomingdale, a former London head of banking and finance at Mayer Brown in London, originally worked out of Mayer Brown’s New York office while Wagner hails from Chicago.
In a statement the co-chair of Cadwalader’s capital markets practice Patrick Quinn said, “the addition of Bruce and Jeremiah and their asset-backed expertise to our UK structured finance team builds on the strength we enjoy in commercial mortgage backed securities, CDOs, CLOs and other structured and securitised products and enhances our ability to support clients in the fast re-emerging European structured finance and credit markets”.
The string of hires at Cadwalader is part of a London recruitment drive spearheaded by City managing partner Petrick, a financial restructuring partner who relocated from New York at the start of last year. Last year Cadwalader also hired one of the City’s best-regarded financial restructuring and insolvency lawyers, Linklaters’ Yushan Ng, as a partner in its London office (11 September 2012).
The firm has now hired six partners since September last year, taking City office partner numbers to 12 and the total number of lawyers to around 40.
A spokesman for Mayer Brown said: “We thank them for their contributions and wish them well.”