Cravath Swaine & Moore is to boost its presence in the European M&A market with the move of
New York corporate partner David Mercado to
London.
Mercado, who joined Cravath in 1984 and became a partner in 1992, is expected to move to the firm’s City practice in the next few months. The move will coincide with the departure of the New York leader’s London head, William ‘Bud’ Rogers, who will be returning to the US.
Mercado’s transfer to London will be watched with interest by rivals as Cravath remains one of only a few top US firms without either a UK law capability or a major M&A presence in Europe.
Although Rogers is a corporate lawyer, his practice also covers areas including securities and derivatives. Similarly, the other three partners listed in London — Philip Boeckman, Gregory Shaw and George Stephanakis — are more closely associated with capital markets and high-yield work.
In contrast, Mercado’s practice focuses on M&A and private equity funds work, with a particular emphasis on Latin America, for which he is highly rated. Last year he acted alongside Macfarlanes on Brazilian steelmaker Companhia Siderurgica Nacional’s £4.3bn bid for Anglo-Dutch rival Corus.
In addition to its ties with Macfarlanes, Cravath also works regularly with Slaughter and May and Herbert Smith.
A partner at one of these firms told Legal Week: “David is an M&A lawyer and with his move you will see Cravath become more active in European M&A work. He is the kind of guy that will help leverage the group up.”
Another added: “He is quite an operator and will be a great boost to the London practice.” Cravath declined to comment.
