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Shearman & Sterling has boosted its City corporate finance practice taking on partner Jacques McChesney from US rival Latham & Watkins.

McChesney is based joins Shearman from Latham’s City office. He moved to London from Latham’s New York office in 1999.

McChesney specialises in high-yield leveraged finance although also works on general securities matters in both European and US capital markets.

While at Latham he worked for clients including Barclays, Goldman Sachs, Merrill Lynch and Credit Suisse First Boston (now Credit Suisse).

This time last year he advised JP Morgan and Deutsche Bank. as lead arrangers on the €300m (£206m) issue of senior notes by Cablecom Luxembourg, a subsidiary of Liberty Global.

The hire comes after Shearman’s London office saw capital markets partner David Beveridge relocate to New York.

Latham’s London office managing partner, Andrew Moyle, said: "Jacques McChesney has been a valued member of the corporate finance practice group, and we wish him well in his new position."

The move follows the announcement this week that Shearman is making up 13 new partners across its offices, with two London-based lawyers – projects associate Ben Shorten and capital markets counsel Michael Benjamin – given the nod.

The firm’s New York headquarters boasted the most promotions for any individual office, with four associates made up to partner, while there were also promotions in Germany, Hong Kong, Italy, Toronto and Washington DC.

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