Allen & Overy (A&O) New York capital markets partner Josh Cohn has joined Mayer Brown to help launch a global derivatives and structured products practice for the firm.

Top-rated derivatives partner Cohn joined Mayer Brown yesterday (17 February) as co-head of the new global practice alongside London-based partner Ed Parker.

Cohn will also head the US side of the derivatives practice, replacing Joel Telpner, who left to join US rival Jones Day at the end of last year. The firm has a further six associates specialising in the field in New York.

Mayer Brown has previously had a derivatives and structured products practice in the US, Asia and London but this is the first time it has formed an umbrella group covering all three regions.

Parker told Legal Week: "A leading derivatives practice should be global in nature, but only a handful of firms actually have a global derivatives capability. This will give us a better overview and allow us to compete more effectively."

"Josh is a top-rated lawyer in his field whose practice matches ours well with several overlapping client relationships, including our key financial institution clients."

Before joining A&O, Cohn was a derivatives counsel at Cravath Swaine & Moore in New York, a senior vice president and general counsel at DKB Financial Products and a first vice president and counsel at Security Pacific National Bank as well as an associate with legacy firm LeBoeuf Lamb Leiby & MacRae.

Cohn's departure follows that of derivatives specialist Dan Cunningham from A&O's New York office last year. Cunningham had been seen as one of A&O's most high-profile recruits in the US market when he joined from Cravath in 2001.

Earlier this week A&O recruited corporate and litigation partner Elaine Johnston from White & Case.

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