Milbank Tweed Hadley & McCloy has strengthened its City leveraged finance practice with the hire of Neil Caddy from Mayer Brown.

Caddy will join the US firm's London arm later this month as a partner after around two and a half years with Mayer Brown. He joined Mayer Brown as a partner in early 2010 from Allen & Overy and in 2006 spent a seven month secondment with the financial sponsors group at JPMorgan, which remains one of his clients.

Caddy, who advises on acquisition and other event driven financing as well as restructurings, is the third lateral partner hire Milbank has made in London so far this year and will join a team of eight finance partners in Milbank's City arm.