Olswang has moved to ramp up its equity capital markets (ECM) practice with the hire of Faegre & Benson’s London head and respected Alternative Investment Market (AIM) practitioner Max Audley.
Audley, who led the US law firm’s London office and City corporate group, joined Olswang this week as a partner. He will work to build up the City firm’s ECM group, having led a well-regarded initial public offering practice at Faegre.
The move is part of a push by Olswang to improve its AIM credentials. Late last year the firm shook up its corporate group, singling out a number of areas it intends to build on. The firm’s ECM group is one of the main areas of focus, along with media and technology; leisure and retail; and private equity.
For the past five years Audley has headed Faegre’s London office following a tie-up between Minneapolis-based Faegre and legacy London firm Hobson Audley in 2003. He was previously senior partner of Hobson Audley, a firm which he co-founded more than 25 years ago.
Audley sits on the London Stock Exchange’s AIM advisory board, having initially been appointed as the sole lawyer on the panel in 2003. He also sits on the AIM disciplinary committee.
Olswang’s ECM drive is being led by corporate partner Adam Fenner. Recent deals the 11-partner group has handled include advising UK fund manager New Star Asset Management on its admission to AIM and subsequent full listing, and pharmaceutical group Vectura’s admission to the full market.
Olswang senior partner Mark Devereux told Legal Week: “Max cements our drive to boost our corporate finance practice as a focus group. He is a great name to add to our partnership.”
Faegre has not yet appointed a new London head of corporate and said Audley’s departure was “driven by a personal desire to make a ‘significant change’ in the last years of his legal career”.
Audley said: “The firm and I are parting as friends, with mutual respect, and we wish each other well in our respective endeavours.”
Gerald Hobson, Faegre UK managing partner and fellow co-founder of Hobson Audley, said: “On a personal note, we will all miss Max. Professionally speaking, we understand his reasons for wanting to pursue new and different opportunities. We are looking to grow our London office and Max does not feel able to approach that with the requisite energy and enthusiasm.”
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