Clifford Chance kicks off funds rebuild with Debevoise hire

Clifford Chance has moved to rebuild its depleted funds practice with a senior hire from Debevoise & Plimpton.

Earlier this summer Clifford Chance’s funds practice was rocked by the exit of a four-partner team to Weil Gotshal & Manges (13 June 2011).

Now the magic circle firm is expected to bring in Debevoise international counsel Gerard Saviola as a partner in its London team.

Saviola, whose clients include Morgan Stanley, is understood to be one of the US firm’s most highly rated junior lawyers. He is set to join Clifford Chance by the end of next month.

The hire is part of Clifford Chance’s rebuilding campaign in funds. Last year the firm’s funds chief Jason Glover left to join the London office of Simpson Thacher (20 July 2010).

This summer saw a four-partner funds team of Ed Gander, Nigel Clark and Nick Benson and tax partner Jonathan Kandel quit for Weil. They were followed a month later by funds associates Stephen Fox and David Irvine (4 July 2011).

Neither Clifford Chance or Debevoise was available for comment.