Edwards Angell Palmer & Dodge is launching a London banking practice with the hire of City finance veteran Charles Proctor from Bird & Bird.

The US law firm said the move had come in a bid to sustain its growing transactional practice, including in private equity and venture capital as well as its insurance practice, as Proctor also has substantial regulatory experience.

Proctor will initially be the sole partner in the group but the firm is predicting fast growth for the practice area in line with client demand.

Proctor has been a partner with Bird & Bird since 2005, when he joined from Nabarro, where he had been for just one year after joining from Tite & Lewis in May 2004. Before that, he had headed Norton Rose's Singapore arm.

His practice focuses on advising large companies in banking matters, including asset-based lending, project finance, derivatives and debt restructuring.

The departure leaves the 
UK law firm with four London banking partners.

The hire takes Edwards Angell's London office to around 90 fee earners, of which 28 are partners.

Edwards Angell London managing partner Laurence Harris commented: "Once you grow beyond a certain size, having a banking practice is essential. We have been looking at launching the practice for some time and Charles has the benefit of having both the transactional and the regulatory experience which will both broaden our financial services offering and aid our insurance practice."