Finance

Latham finance staff decamps to Paul Hastings in London

Signage is seen exterior of the Paul Hastings legislation agency in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly

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  • Latham staff organized financing for $2 billion acquisition of Rolls-Royce Spanish unit by Bain Capital
  • Departing Latham attorneys embody world finance co-chair, London finance leaders

(Reuters) – Paul Hastings has added 4 London-based companions from Latham & Watkins, the agency mentioned Monday, bringing on the staff that helped organize financing for Bain Capital Personal Fairness’s $2 billion (1.7 billion euros) acquisition of Rolls-Royce’s Spanish unit ITP Aero final 12 months.

The brand new Paul Hastings arrivals embody Ross Anderson, who was a co-chair of Latham’s world banking apply, and Mo Nurmohamed and Karan Chopra, who have been each leaders of Latham’s finance division in London. Additionally becoming a member of is Robert Davidson, who grew to become a accomplice at Latham earlier this 12 months.

Paul Hastings has named Nurmohamed a co-chair of its world finance apply.

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The staff’s different previous issues embody arranging financing for Blackstone’s acquisition of worldwide constructing supplies distributor Grafton Group plc’s British conventional merchanting enterprise for $718 million (520 million kilos) final 12 months, Paul Hastings mentioned.

Representatives for Latham didn’t instantly reply to a request for touch upon the departures.

That is the second time in as many months Paul Hastings has poached a transactional lead from a rival agency. Final month, the agency added Eduardo Gallardo from Gibson, Dunn & Crutcher, the place he was world M&A co-chair.

Paul Hastings mentioned it has seen “extraordinary momentum” in its London workplace, which noticed a 41% improve in income final 12 months. A spokesperson for the agency didn’t instantly reply to a request for remark.

The strikes come as world M&A exercise has slowed after Russia’s invasion of Ukraine in February and rising fears of an impending financial recession. International M&A exercise dropped 21% within the first half of 2022 in comparison with a 12 months in the past, Refinitiv knowledge confirmed.

Learn extra:

Sullivan & Cromwell leads first-half M&A in slower 2022 for agency dealmakers

Paul Hastings continues NY progress with Gibson Dunn M&A co-chair

Rolls-Royce soars after hitting disposal goal with $2 bln ITP sale

Grafton to promote conventional merchanting enterprise in Britain for $718 million

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David Thomas

Thomson Reuters

David Thomas stories on the enterprise of legislation, together with legislation agency technique, hiring, mergers and litigation. He’s primarily based out of Chicago. He might be reached at d.thomas@thomsonreuters.com and on Twitter @DaveThomas5150.

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