Pillsbury Winthrop Shaw Pittman has hired a five-partner team from Nixon Peabody's New York office, reports The New York Law Journal.

The exact size of the team is still being finalised and could reach 20 lawyers, said Pillsbury chairman James Rishwain. The departing partners include Mats Carlston, Nixon Peabody's former head of global finance.

The defections follow the recent departures of nine other Nixon Peabody partners to DLA Piper, including Michael Murphy, an insurance partner who was a member of Nixon's governing policy committee.

The departures of Carlston and Murphy could affect Nixon Peabody's global plans, as the two were instrumental in pushing the firm into China, Paris and London and became leaders of its global strategies and international practice.

Brian Flanagan, Nixon Peabody's operations partner and a member of the firm's management committee, acknowledged the departures would shrink the firm's New York headcount by around 20%. However, Flanagan said "these departures neither singularly nor in the aggregate have a material financial impact on us."

"Partner mobility is very common in today's market," Flanagan said. "It's happening at our firm, it's happening at Pillsbury, it's happening at DLA. None of us are immune to the trend."

In addition to Carlston, Pillsbury's new hires include Bart Pisella, who will lead its corporate trust team, Douglas Schneller, who will lead Pillsbury's distressed investing team, Peter Alfano, a finance lawyer, and James Kelly, who will head up Pillsbury's leveraged buyout team.

Rishwain said Pillsbury began discussions a few months ago with the group, who share many financial institutional relationships with clients such as Wells Fargo & Company, Morgan Stanley, Bank of America Corporation, BNP Paribas, Deutsche Bank, Royal Bank of Scotland and UBS.

"It's always challenging to have a group of lawyer who've been with their firm for nearly their entire career be interested in a move," Rishwain said. But the fact that the lawyers were in the financial institution area and in New York "was a perfect strategic combination for us," he said.

The New York Law Journal is a US sister title of Legal Week.