Baker & McKenzie has split its London finance department into two teams and appointed new heads as the firm begins a push to increase its profile and resources in the banking and capital markets arena.
The firm¹s finance department will now be divided into structured capital markets, headed by former Norton Rose securitisation partner Jonathan Walsh, and banking, headed by acquisition finance and general banking partner Bernard Sharp.
The capital markets team will focus on derivatives, debt capital markets and securitisation work. Walsh told Legal Week that the objective now was to increase the team, currently made up of five partners and 12 associates, to 30 fee earners during the next year. The firm plans to have around 18 associates and an increased number of trainees and paralegals.
The banking practice, which will concentrate on acquisition finance, general lending and project finance, also hopes to grow at a similar rate.
Former head of finance Christopher Hogan, who has a capital markets practice with a focus on emerging markets, will join the structured capital markets team.
Walsh told Legal Week: ³The finance department in London was becoming too big to be looked after by one person. I am delighted we have worked out the best way to develop the practice and it allows associates, clients and our international offices to understand our focus.²
Walsh was part of the four-partner securitisation team to join from Norton Rose in 2005. Last year he led on the firm¹s first mandate for Bear Stearns and, together with partner Bruce Somer, advised longstanding client National Australia Bank on a $10bn (£5.3bn) securitisation.
