White & Case has hired a senior associate from Allen & Overy's Frankfurt finance team to launch a German-law structured finance team for the New York firm.

Ulf Kreppel is to join White & Case as an equity partner on Monday (3 February) and will initially launch the practice on his own from the US firm's 60-lawyer Frankfurt branch.

White & Case Frankfurt finance partner Annica Lindegren told Legal Week: "Ulf's hire is part of a structured finance push in Europe. This new practice in Germany will work with our network and will focus a lot on securitisation."

Kreppel has worked on a number of major deals for A&O, including leading the magic circle firm's team in advising on the first ever public Austrian securitisation in 2001.

The deal saw Kreppel represent Schroder Salomon Smith Barney and the other managers on the EUR2.5bn (£1.7bn) issue by Blue Danube Funding, which was used to securitise a portfolio of housing loans backed by the State of Lower Austria.

His departure follows the defection of A&O's Frankfurt structured finance partner Bodo Schaar, who joined the local office of US firm Orrick Herrington & Sutcliffe last November.

White & Case's latest appointment follows a push across Europe in structured finance, with the US firm setting up local law practices in the UK and Italy over the last two years.

Lindegren added: "In Germany we offer acquisition and project finance, but needed structured finance to complete the set-up. It has taken a year and a half to find the right candidate and our clients needed a capital markets ability in Germany."

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