A&O Shearman has appointed a new co-head of its private capital practice, while the managing partner of Mishcon de Reya is taking on a new role, according to announcements made this week. These moves reflect ongoing changes in the legal landscape as firms adapt to market demands.
New Co-Head at A&O Shearman
The global law firm A&O Shearman named Daniel Kessler as co-head of its private capital group, effective immediately. Kessler, who previously led the firm's US private equity practice, will share leadership with existing co-head James Baird. The appointment comes as the firm seeks to bolster its capabilities in the rapidly growing private capital sector, which includes private equity, venture capital, and private credit.
According to a firm spokesperson, Kessler's experience in cross-border transactions and his track record in advising major investment firms will be instrumental in expanding the practice. A&O Shearman, formed by the merger of Allen & Overy and Shearman & Sterling in 2023, has been focusing on integrating its teams and leveraging combined strengths.
Mishcon de Reya's Managing Partner Moves
Separately, Mishcon de Reya announced that its managing partner, James Libson, will step down from the role after seven years to become the firm's first head of strategic growth. Libson will focus on developing new business opportunities and enhancing the firm's market position. He will be succeeded by Nick West, currently the firm's head of corporate, who will take over as managing partner in May.
Libson said in a statement: "I am proud of what we have achieved during my tenure, but I am excited to focus on driving the firm's strategic initiatives. This new role allows me to concentrate on growth areas that will define Mishcon's future." The firm has seen significant expansion under Libson's leadership, including opening offices in Singapore and New York.
Impact on London's Legal Market
These appointments highlight the competitive nature of London's legal sector, where firms are vying for talent and expertise in high-growth areas like private capital. A&O Shearman's move to appoint a US-focused co-head underscores the importance of transatlantic deals, while Mishcon's restructuring aims to capitalize on emerging markets.
Industry analysts note that private capital has become a key revenue driver for law firms, with global private equity assets under management reaching $8.2 trillion in 2023, according to data from Preqin. Law firms are increasingly structuring practices to serve this client base more effectively.
Broader Trends in Legal Appointments
The changes at A&O Shearman and Mishcon de Reya are part of a wave of leadership transitions across the legal industry. In recent months, several major firms have announced new practice heads and managing partners as they navigate post-pandemic work patterns, technological disruption, and client demands for efficiency.
Both firms are expected to announce further strategic moves in the coming months, as they position themselves for sustained growth in a competitive environment.
