Paul Hastings' London office has hired Weil Gotshal & Manges local capital markets and hedge fund head James Cole for its securities and capital markets practice.

Cole, who will formally join the firm on 1 March, advises clients including investment banks, hedge funds and financial institutions on all aspects of capital markets transactions and distressed investment opportunities.

Recently Cole has advised on Yankee bond offerings by Czech electricity company CEZ and Polish bank PKO and advised on aspects of the MF Global insolvency. In 2010 he advised on Danish food group Chr Hansen's €742m (£622m) Copenhagen Stock Exchange listed IPO.

Weil said it had no plans to directly replace Cole as practice head, but pointed to Gil Strauss' imminent move from Freshfields Bruckhaus Deringer as an important hire for the London capital markets team.

"As the capital markets become increasingly globalised, building a high-quality top-tier capital markets practice in Europe is a critical step for us. James' experience, profile and practice complements our existing capabilities in London and positions us well to continue to expand," said London chair Ronan O'Sullivan.

"James will help us continue to build our London capital markets practice and grow key strategic relationships in a critical practice area," said Elizabeth Noe, chair of Paul Hastings' corporate practice.

Cole's arrival is the latest expansion for Paul Hastings' London office, with Clifford Chance finance partner Neil Hamilton joining in October and former Ashurst finance partner Ugo Giordano making the move to the US firm in July.