Freshfields doubles down on US with ex-Skadden and Wachtell hires
Freshfields Bruckhaus Deringer is looking to ramp up its US transactional practice after installing new chiefs for the firm's M&A and leveraged finance teams in New York.
September 03, 2014 at 05:19 AM
2 minute read
Freshfields Bruckhaus Deringer is looking to ramp up its US transactional practice after installing new chiefs for the firm's M&A and leveraged finance teams in New York.
Mitchell Presser, who was at Wachtell Lipton Rosen & Katz for 17 years before helping to found private equity firm Paine & Partners seven years ago, has taken on the leadership of Freshfields' US M&A practice.
The firm also recently hired former Skadden Arps Slate Meagher & Flom banking partner James Douglas, who will head Freshfields' US leveraged finance practice.
Presser has experience working on high value deals including Morgan Stanley's acquisition of US oil pipeline and terminal business TransMontaigne in 2006, and the $15bn (£9.1bn) leveraged buyout of Kinder Morgan the same year.
Douglas, who is listed as a retired partner at Skadden, joined Freshfields' New York office earlier this year. He took a role on KKR's historic 1988 leveraged buyout of RJR Nabisco and various other cross border acquisitions.
Edward Braham, head of Freshfields' global corporate practice, called the hires a "milestone" for the firm's US practice, while Matthew Herman, head of the firm's US corporate practice said the appointments showed "continued commitment to strategic investments in the US."
In an interview with the Wall Street Journal, Herman said the firm plans to grow its New York M&A presence from five partners to up to 25 over the next few years.
Commenting on his move, Presser said: "Transactions are international today, and Freshfields offers a global platform that enables clients to maximize value, whether that comes from being adept at navigating conflicting law and market practices, or where success involves the synthesis of multiple disciplines across multiple geographies.
"As a client I saw that advantage first hand. The firm has a unique opportunity to build on its recent success through growth in the US, and I look forward to helping lead that growth."
Outside of New York, Freshfields also counts an office in Washington DC. In March, the firm appointed litigator Adam Siegel as its new US managing partner.
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