Freshfields Attracts Top Talent from Shearman, Bolstering London Finance Practice

Freshfields Attracts Top Talent from Shearman, Bolstering London Finance Practice

Freshfields Bruckhaus Deringer, a leading UK Magic Circle firm, has recently recruited a partner from Shearman & Sterling's London team specialising in structured products and derivatives. This lateral move is one of three notable finance partner appointments unveiled by Freshfields on June 7, demonstrating the firm's commitment to strengthening its expertise on both sides of the Atlantic.

Following the recent announcement of Shearman & Sterling's intention to merge with Allen & Overy (A&O), James Duncan, a highly regarded individual recognized by Legal 500, has become the third partner based in London to depart from Shearman. This departure highlights the ongoing changes within the legal landscape, as Duncan seeks new opportunities amidst the impending merger between Shearman and A&O, a prominent Magic Circle competitor to Freshfields.

In London, Freshfields has expanded its team by recruiting Haden Henderson, an expert in high-yield bonds, from Baker McKenzie.

Simultaneously, on the other side of the Atlantic, the firm has bolstered its capabilities by bringing on board Damian P. Ridealgh, a specialist in capital solutions, from Weil Gotshal & Manges.

Amidst the noteworthy trio of new hires, James Duncan's departure from Shearman carries significance. His departure gains particular attention due to Shearman's impending merger with A&O and the recent series of partner departures, which occurred before the breakdown of earlier discussions with Hogan Lovells in March.

Having joined Shearman's London team in 2012 from Berwin Leighton Paisner, Duncan has been a steadfast member, contributing significantly to the firm's success. With a focus on cross-border transactions, Duncan specialises in providing expert counsel on strategic equity solutions, both from the buy-side and sell-side perspectives, as well as equity financings.

Richard Hart, a partner specialising in structured products and derivatives at Freshfields, expressed that the recent hiring showcased the firm's strategic objectives for expansion in the private capital arena.

Hart emphasised the growing importance of derivatives-based and other structured solutions in meeting the financing and risk-management requirements of sponsors.

In addition to Duncan, Haden Henderson is also joining Freshfields' finance team in London, transitioning from his role as a partner at Baker McKenzie, a position he has held since 2018. Henderson brings with him extensive expertise in advising on various areas, including high-yield bond offerings, committed leveraged finance transactions, and bond restructurings.

Freshfields has not only expanded its partner roster in London but has also made significant additions to its partner team in the United States. The spotlight on the potential A&O Shearman merger has underscored Freshfields' growth strategy in the US market. This development has also shed light on the growth plans of other prominent UK firms, including Clifford Chance and Linklaters, as they navigate the evolving legal landscape.

Freshfields' US finance practice has been bolstered by the addition of Damian P. Ridealgh, who joined the firm from Weil Gotshal & Manges. Ridealgh, previously a partner at Ashurst and Fried Frank Harris Shriver & Jacobson, brings a wealth of experience in advising private capital clients. His expertise spans a wide range of areas, including special situations, liability management transactions, as well as US and European acquisition financings.

Ridealgh's impressive roster of private equity fund clients includes notable names such as Hayfin Capital Management, CPPIB Credit Investments, Angelo Gordon & Co, and Blackstone.