US law firm Vedder Price is launching in London with 
the hire of Clyde & Co's co-head of aviation finance, Gavin Hill, marking the firm's first presence outside of its home country.

The City office will go live next month, with Hill and ex-Freshfields Bruckhaus Deringer senior associate Derek Watson – who left the magic circle firm earlier this year to join Clydes – set to become the two resident partners.

It is understood that further Clydes associates could also join the new base, which will initially focus on transportation finance.

Vedder, which has offices in Chicago, Washington and New York, focuses on corporate, litigation and employment and is highly regarded for its transport finance work.

The firm recently acted 
for Airbus on a $38bn (£23.6bn) deal, which saw AMR Corporation agree to acquire 460 planes from Airbus and Boeing.

Clydes aviation finance co-head Philip Perrotta, who will continue to lead the group, said: "It's a shame that Gavin has chosen to leave just as we are expanding our aviation finance capabilities across the firm, augmenting the group in London and building the team in key markets including Hong Kong, New Delhi, the Middle East and the US.

"This all takes place just as the firm is taking on 
a completely different scale with the merger with Barlow Lyde & Gilbert, with the associated demands for additional skills and capabilities that this brings."

Hill, who has been a partner at Clydes since 2004, specialises in advising on the financing, leasing and purchase of aircraft and engines.