Allen & Overy (A&O) has enlisted a team of five structured finance attorneys based in London, recruited from the American competitor Milbank, in anticipation of its upcoming merger with Shearman & Sterling.
The move is a welcome change from the lawyers who have left A&O prior to the Shearman merger, which we recently reported.
The new firm, to be named A&O Shearman, will be a legal behemoth, having nearly 4,000 lawyers across 48 offices globally and combined revenues of around $3.5 billion.
Heading the team is partner John Goldfinch and the team moving to the firm includes two senior associates and two associates, specializes in diverse aspects of structured finance, securitization, and derivatives.
Goldfinch’s expertise particularly centers on the CLO and related markets. Noteworthy projects from his tenure at Milbank include advising the National Bank of Greece on mining project financing and assisting Spain’s Werfen in its $2 billion acquisition of the US diagnostics business Immucor from TPG. Goldfinch also played a key role in advising Greek lender Attica Bank on the sale of its securitized NPL portfolio to US private equity firm Pimco.
A&O highlighted that global private capital client revenue had surged by over 60 percent in the last two years, citing Goldfinch’s recruitment as instrumental in supporting continued growth in this sector.
The firm press release:
Allen & Overy today announces it is bolstering the global structured finance practice as partner John Goldfinch joins ahead of merger with Shearman & Sterling, to become A&O Shearman.
John, who joins the firm from Milbank, is widely recognised as one of Europe’s leading structured finance advisers, with a particular focus on the CLO and related markets. His appointment supports A&O’s continued growth and investment in the private capital space, which is a key strategic focus for the firm.
John will be joined by senior associates Adrian Kwok and Peter West, as well as Eleanor Cripps and Alexandra Wells. John and his team will work seamlessly with the firm’s multidisciplinary Private Capital group, together with members from the Capital Markets, Private Equity, Leveraged Finance, High Yield, Funds and Asset Management and ABS teams to support clients.
A&O’s structured finance practice is a global market leader providing clients with unparalleled knowledge and experience across a network of 44 offices worldwide, adept at responding to regulatory change and market evolution. John’s arrival will further strengthen our bench working with private capital sponsor clients accessing the structured capital markets. We look forward to welcoming him to the team.
David Lucking, global head of International Capital Markets (ICM)
Private capital client revenue has increased by over 60% globally during the past two years. In response to increased client demand, recent lateral hires have been added in the Middle East, Singapore, London and New York, across funds, private equity and distressed debt. These hires bolster the firm’s international strength across multiple investment strategies and positions it well, as the private capital market enters into a new phase.
John joins the firm’s transatlantic CLO practice ahead of its upcoming merger with Shearman & Sterling. In October 2023, A&O and Shearman & Sterling partnerships voted overwhelmingly in support of merging to create the first fully integrated global elite law firm, A&O Shearman. The combined firm will have nearly 4,000 lawyers, 49 offices and combined revenues of approximately more than USD3.5 billion.
