New York giant Shearman & Sterling has strengthened its European finance practice with the hire of Paris-based Jones Day partner Pierre-Nicolas Ferrand, it was announced yesterday (2 July).

Ferrand, who focuses on banking and structured finance, as well as restructuring and insolvency matters, joins Shearman in the French capital as a partner.

Ferrand has represented clients including ABN Amro Bouwfonds, Bayer, BNP Paribas, Credit Suisse, Societe Generale and the Royal Bank of Scotland.

Ferrand joined Jones Day in 1993 in Paris and spent two years in the US law firm's Singapore office between 2001 and 2003 before returning to France.

Commenting on Ferrand's arrival, Shearman Paris head Emmanuel Gaillard said: "His experience will be an ideal complement to the firm's leading leveraged finance practice."

The news comes after Shearman lost Paris-based tax partner Isabelle Chauvet to US rival Orrick Herrington & Sutcliffe last month. Chauvet, who joined Shearman in 1992 from White & Case and became a partner in 2000, advises on tax aspects of M&A transactions, reorganisations and structured finance deals.