Skadden turns to Shearman for double Frankfurt hire

Skadden Arps Slate Meagher & Flom has raided Shearman & Sterling for a double partner hire in Frankfurt, including European capital markets head Stephan Hutter.

Hutter is set to move to Skadden alongside fellow Frankfurt partner Katja Kaulamo. He is a long-standing Shearman partner, and formerly headed the Frankfurt office before being given the Europe-wide mandate for capital markets in 2007 (4 December 2007).

Both Hutter and Kaulamo played a role on the recent €7.5bn (£6.2bn) rights offering of Italian bank UniCredit, as Shearman advised a consortium of 27 banks acting as the joint global coordinators of the offering.

Scott Simpson, co-head of Skadden’s transactions practice, said the hires would deepen the firm’s capital markets offering across Europe.

“Capital markets for us is a important element of our corporate business and to expand the geographic coverage of that business to include Germany, Austria and Switzerland is significant,” Simpson added.

Skadden had previous capabilities in capital markets in Germany but Simpson said the latest appointments boosted that. The hires bring the firm to nine partners in Germany, across Frankfurt and Munich.