Slaughter and May shakes up infrastructure leadership after Brexit secondee's retirement
Former infrastructure chief succeeded by co-heads as firm targets sharper sector focus
July 23, 2018 at 04:43 AM
3 minute read
Slaughter and May has rejigged the leadership of its infrastructure, energy and natural resources (IEN) group in the wake of the retirement of former practice head Mark Horton, following his secondment to the government's Brexit unit.
The IEN group leadership is now being split between two new co-heads – corporate finance partners Michael Corbett (pictured) and Hywel Davies.
As part of the changes, the infrastructure and energy teams will operate closely with each other, while natural resources will stand alone, despite continuing to sit under the multidisciplinary umbrella IEN group.
Corbett will focus primarily on infrastructure, with Davies concentrating on the energy side, with infrastructure and energy partner Richard Todd acting as a bridge between the two streams. Corporate partner Mark Zerdin, meanwhile, has stepped up to lead the natural resources group.
Corbett said the change has been made in response to increasing demand from clients for sector-specific advice.
"We're becoming more sectorally focused and more specialised in service delivery," explained Corbett. "[The change] is consistent with the way clients want to operate."
Todd added: "Our outward-facing profile had to match what clients were doing. We've had to be much more coordinated, and [the change] suits where legal services are going. To be credible and win the key mandates, you need to demonstrate that you have that specialist knowledge."
The pair said the development of new technologies in the infrastructure sector, in both developed and emerging markets – particularly in renewable energy, such as offshore wind, solar and tidal – has piqued the interest of a growing pool of investors.
"There is huge interest in this space from, for example, the classic funds. They're interested in these assets because of the nature of the return," said Todd, adding: "There is a continued need for investment in this space, and we've reacted to service that demand."
The new practice heads are supported by a core IEN leadership team including Todd as well as corporate finance partner Tim Pharoah and infrastructure and energy partner Steven Galbraith.
Before his retirement in April this year, former infrastucture head Horton spent a year-long secondment with the government's Brexit unit, helping with its international trade negotiations in the run-up to the UK's exit from the EU.
Horton, who had been a partner at Slaughters since 1988, worked closely with the Crown Commercial Service, while more recently he led the firm's team advising Global Infrastructure Partners on its acquisitions of Gatwick Airport and Edinburgh Airport.
Slaughters has a longstanding relationship with the UK Government, with recent energy and infrastructure mandates including advising on the Hinkley Point C nuclear power plant project.
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