Latham & Watkins continues to strengthen its structured finance team in London, with the addition of nine lawyers from Allen & Overy’s recent merger with Shearman & Sterling. This move further consolidates the firm’s position in the competitive London legal market, following the departure of two key partners, Franz Ranero and James Smallwood, who transitioned to Latham earlier in April.
The team’s latest acquisition comprises one counsel and eight associates, indicating a robust push to enhance Latham’s capabilities in advising investment funds, financial institutions, and asset managers. This comes as a significant development, especially since Latham lost at least 11 UK partners to competitors last year. This recent inflow marks a strategic attempt by the firm to bolster its presence and adaptability, after what has been considered a challenging year marked by an uptick in lateral exits compared to its historical average over the past four years.
This trend of recruiting from rival firms demonstrates an intensified focus on acquiring talent with specialized skills in structured finance, reflecting the market dynamics and increasing client demands within the sector. Latham & Watkins’ decision to onboard professionals familiar with partner Ranero’s and Smallwood’s practice areas underscores a targeted approach to rebuilding and enhancing their structured finance offerings in a highly competitive legal hub.