Allen & Overy (A&O) has bulked up its Madrid office with the hire of Uria Menendez's investment funds head Salvador Ruiz Bachs.

Ruiz Bachs is set to join the firm in the coming weeks from the Madrid arm of Uria, where he has been of counsel since 2007, having joined Uria in 1996.

At A&O he will sit within the Madrid banking and finance practice and will become the ninth partner in the magic circle firm's Spanish office.

Ruiz Bachs specialises in banking and capital markets, financial and investment services, derivatives and structured products.

A&O Madrid managing partner Inigo Gomez-Jordana said: "We have been looking for some time now for someone like Salvador because A&O as a firm is really embarking on a strategy to reinforce its financial regulatory area, which Salvador has a lot of experience in.

"This hire takes us where we need to be now in terms of size in Madrid and I do not anticipate further hires in the next year. We currently have around 65 lawyers in Spain, which is a large office by any standards in the market."

A&O's most recent hires in Madrid were in October when the firm brought in a trio of lawyers from Clifford Chance led by corporate partner Pablo Mayor.

Uria last month posted a 3% rise for 2010 revenues, with turnover standing at €186.5m (£161.8m) up from €181m (£157m) in 2009. The Spanish leader said it would not be appointing a replacement head of investment funds.