Weil to lose ex-Linklaters star Stephen Lucas to Kirkland
Weil Gotshal & Manges is set to lose London banking head Stephen Lucas to Kirkland & Ellis after just three years at the US firm, Legal Week has learned.
May 20, 2014 at 06:51 AM
3 minute read
Weil Gotshal & Manges is set to lose London banking head Stephen Lucas to Kirkland & Ellis after just three years at the US firm.
Lucas is understood to have handed in his notice this week, but did not respond to requests for comment. Several Kirkland partners in the London finance contacted by Legal Week also declined to comment on the move.
Weil is lining up former Hogan Lovells partner Mark Donald to replace Lucas as London banking head.
The move, set to be one of the most high-profile lateral hires this year, follows a number of marquee signings for Chicago-headquartered Kirkland around the world.
Last month, the firm hired Simpson Thacher rainmaker Andrew Calder to help launch its Houston office, and in 2013 made a trophy hire in New York with the appointment of Robert Khuzami, the former director of enforcement at the US Securities and Exchange Commission (SEC).
Both Calder and Khuzami were reported to have joined on guarantees of around $5m a year.
Lucas's departure marks the latest in a series of partner exits from Weil's London office since the beginning of 2013. Despite this, the City base posted a 3.6% increase in revenue during the year, as its global profit and turnover both suffered significant falls.
Of the 31 partners in the office at the beginning of 2013, seven have so far left, excluding Lucas. These include London capital markets head James Cole, who joined Paul Hastings in January 2013, private equity partner Mark Soundy left to join Shearman & Sterling with City tax head Sarah Priestley, and litigator Matthew Shankland, who moved to Sidley Austin.
Weil's hire of Lucas in 2011 from Linklaters was seen as a bold statement of intent to establish a major banking practice in the City.
Lucas, who is both English-qualified and a member of the New York Bar, has strong relationships with a number of banks, including Citibank, Barclays and Goldman Sachs.
At Weil, he has been credited with helping to build the London office's banking team, including helping to attract Freshfields Bruckhaus Deringer high-yield partner Gil Strauss.
Prior to his time at Linklaters, Lucas was a partner at magic circle rival Clifford Chance.
For a 2013 interview with Stephen Lucas, click here.
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