Allen & Overy adds five partners in New York with team of finance hires

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Allen & Overy (A&O) has boosted its US finance practice with the arrival of a five-lawyer team, including four partners, from several US firms.

Senior leveraged finance partner Scott Zemser is leading the new team at A&O’s New York office, having joined from White & Case. He will become co-head of A&O’s global leveraged finance team.

Zemser’s practice focuses on domestic and cross-border multi-jurisdictional financing deals and restructurings.

Joining alongside him are finance partners Alan Rockwell and Judah Frogel.

Frogel and Rockwell’s practices both have a particular emphasis on representing major commercial banks and investment banks.

Additionally, banking finance partner Rajani Gupta joins from Proskauer Rose. Her principal focus is the representation of banks and other financial institutions as lenders and strategic investors, as well as buyout funds and corporations as borrowers in domestic and international financings.

The team is completed with the arrival of Todd Koretzky, who joins A&O from Milbank Tweed Hadley & McCloy where he was an associate. He joins A&O as a partner.

A&O’s global co-head of banking Philip Bowden said: “The US and European leveraged finance markets have changed significantly over the past few years. They are no longer completely independent markets with separate pools of liquidity, but are increasingly used to finance both domestic transactions and deals outside of their home market.

“The addition of this highly experienced team greatly enhances our ability to support clients globally, regardless of the type of law or place of origin of their financing transactions.”

Yesterday, the magic circle firm’s London finance practice took a hit as heavyweight acquisition finance partner Stephen Kensell and former banking co-head at the firm joined Latham & Watkins’ London office.

His departure comes after he unsuccessfully campaigned to become senior partner at the magic circle firm earlier this year.