Lovells losses in London

In the merry-go-round that is the European private equity law market, it's no great surprise when individuals jump ship. But it's still a talking point when several do so from the same place at the same time, and land up at the same organization.

That's the scenario that transpired last month when Lovells' private equity team was decimated by the departures of partner Marco Compagnoni, consultant Alison Hampton and senior associate Jonathan Wood – all for the London office of US-based rival Weil Gotshal & Manges.

Compagnoni and Wood both become partners at Weil Gotshal, joining Mike Francies, Mark Soundy and Will Rosen in a now five-strong London partnership.

Speculation swirls surrounding the reason for the departures. One senior lawyer at a London-based firm that competes with both Lovells and Weil Gotshal said that ?ultimately, it was probably money? that dictated the moves. ?Lovells is a good firm and I would think a nice place to work, but it's never quite been? the most profitable. They probably couldn't afford what they needed to pay to hold onto their talent,? said the source.

There has also been the odd rumor in the market that a clash of egos between Lovells heavyweights Compagnoni and another recent defector Derek Baird might have been to blame – a rumor given added weight by the fact that Baird did not join the exodus to Weil Gotshal, but instead moved to Allen & Overy.

However, a source says more likely the respective moves reflect the different motives of the two men. Baird, he says, will be keen to build up Allen & Overy over the long term into a part of the private equity ?establishment? in Europe currently occupied by the likes of Linklaters and Clifford Chance.

Compagnoni, he adds, is the more entrepreneurial of the two, determined to assist overseas-based Weil Gotshal in gatecrashing that same establishment and grabbing market share at the larger end of the market.

Attention is now focused on where next for Lovells. At the moment, Rome-based corporate partner Leah Dunlop has been appointed acting head of private equity to hold the team together. Some observers say the firm will be hard pressed to pull together a whole new team – though it has indicated it has no plan to withdraw from the market.

Morgan Lewis nabs four Orrick fund lawyers
Global law firm Morgan, Lewis & Bockius has hired four partners out of Orrick, Herrington & Sutcliffe to bolster a private investment fund formation practice. Louis Singer, Jedd Wider, Georgette Schaeffer, and most recently Gary Herrmann, four partners from Orrick, will seek clients among hedge funds, private equity funds, venture capital funds as well as institutional investors. The four partners had been involved in forming more than 150 funds over the course of 2005 while at Orrick.

Singer will serve as head of Morgan Lewis' private investment funds practice. His expertise includes both national and international private investment funds, and he has represented a number of high profile clients in the alternative investment market. Wider's experience centers on the structuring and formation of global private investment funds, and among his clients are financial institutions and investment banks who he has advised on matters regarding hedge funds, private equity funds, secondary funds, real estate funds, VC funds, and funds of funds. Meanwhile, Schaefer has been an outside counsel for a number of large US pension funds, universities, insurance companies and investment managers, and their investments and securities transactions. Herrmann advises private funds on tax issues involved with structuring funds and investments. He will join Morgan Lewis in its San Francisco office, while Singer Wilder and Schaeffer will be based out of the firm's New York office. Morgan Lewis ranks fifth among law firms in terms of dollar volume of deal advisory work, according to a press release. Orrick has 850 lawyers in 13 practice areas located in 16 offices in 7 countries. By contrast, Morgan Lewis has more than 1,200 lawyers in 19 offices in 6 countries.

US merchant bank adds Coudert lawyer as senior advisor
Washington DC-headquartered Galen CapitalGroup has appointed M&A and corporate lawyer Gregory Keever as a senior advisor to the mid market-focused merchant bank. Keever is currently a partner at the Los Angeles office of law firm Coudert Brothers, where he leads the business transaction practice. His experience includes the representation of public and private companies in M&A, public and private equity and debt securities offerings. In addition to its executive team of nine professionals, led by Galen chairman William Danielczyk, the firm also boasts a group of 25 senior advisors – of which Keever is now one – with expertise spanning across a number of industries, including healthcare, IT, education, and financial services.

Shearman funds practitioners transfer to Willkie
Five partners have left law firm Shearman & Sterling to join up with Willkie Farr & Gallagher's investment management practice. Signing in at Willkie's Washington DC office are Barry Barbash and Karrie McMillan, while Joel Goldberg, Margery Neale and Maria Gattuso will join the firm's New York headquarters. Barry Barbash, formerly the director of investment management at the Securities and Exchange Commission, will lead Willkie's investment management practice, which stood at four partners before the recent expansion. According to the law firm's chairman Jack Nusbaum, the investment management practice is considered one of Willkie's ?crown jewels,? providing legal services to registered funds, hedge funds and private equity funds. Willkie has over 600 attorneys in eight offices in the US and Europe.

McDermott adds corporate partner
Seth Goldsamt has joined McDermott Will & Emery as a partner in the law firm's New York corporate department where he will focus on private equity, including LBO and M&A transactions. Goldsamt was previously lead counsel in a number of US and international VC financings, securities offerings, joint ventures, and M&A deals. McDermott has over 1000 attorneys at its 14 offices across the US and Europe. The New York office houses more than 150 attorneys representing a US and international client base of public and private companies, financial institutions, private equity funds and high net worth individuals.

M&A lawyer makes jump to King & Spalding
International law firm King & Spalding has added corporate finance and M&A lawyer James Wilson to its Houston office, where he will join the firm's corporate group as partner. Wilson was most recently a partner at Vinson & Elkins law firm, where he was a partner in the corporate finance and securities practice. ?[Wilson] has handled more than 100 domestic and international M&A transactions and more than 50 public offerings. He knows corporate law inside and out, and we look forward to the contributions he will make to King & Spalding' s growth in Houston,? said King & Spalding's Robert Meadows, managing partner of the firm's Houston office, in a press release. King & Spalding's Houston office was established in 1995 and now houses 85 attorneys. In addition to its Houston presence, the firm also has offices in Atlanta, London, New York and Washington DC.

Torys adds corporate finance attorney to NY office
Joining Torys law firm's New York office last month was Joris Hogan, a corporate and finance lawyer specializing in M&A, securities, joint ventures, private equity, venture capital, and restructurings. Hogan was most recently at Milbank, Tweed, Hadley & McCloylaw firm's New York office for over 25 years. International business law firm Torys has 330 lawyers at its offices in Toronto and New York.

Debevoise names new counsel
New York-based law firm Debevoise & Plimpton LLP has named four new counsel at the firm. Timothy Bass is a member of the firm's corporate department and the mergers and acquisitions and securities group who has worked for private equity and mezzanine debt clients; Jane Engelhardt is a member of the corporate department and the investment management practice group who focuses on the private equity fund area; William Sturman is a member of the firm's corporate department and the investment management practice group who has advised sponsors of LBOs and private funds; Emilie Hsu is a member of the corporate department with an emphasis on structured products.

Kirkland adds two in Germany
Global law firm Kirkland & Ellis has hired two German restructuring partners in Munich. Bernd Meyer-Löwy joins from Linklaters where he was a senior restructuring specialist of the German insolvency and restructuring practice. The second partner was not named by Kirkland, which stated in a press release that he is currently serving out his notice period. His practice is focused on the representation of debtors in cross-border insolvencies and of junior creditors and distressed debt investors within Germany and internationally.

Sullivan appoints new vice chairman
The youngest partner ever named at international law firm Sullivan & Cromwell, Joseph Shenker, 49, has now become the firm's vice chairman. In his new position, Shenker will work along side the Sullivan & Cromwell chairman H. Rodgin Cohen in advising corporate chief executives, high-profile families and other influential business figures. In addition to the vice chairman role, Shenker will also continue leading the firm's real estate practice and overseeing the financial and administrative aspects of the firm. Shenker is known for his pioneering work within the realm of real estate securitization, and his experience also includes M&A transactions, domestic and crossborder joint ventures, and advising private equity investors and family offices in the Americas, Europe and Asia. New York-headquartered Sullivan & Cromwell has approximately 600 attorneys in its 12 offices spanning the US, Europe and Asia.