Cleary Gottlieb has recruited a partner from Fried Frank to strengthen its funds practice, the latest in a series of lateral moves between the two law firms.
Details of the Hire
The partner, whose name has not been disclosed, will join Cleary Gottlieb's London office. The move is part of Cleary Gottlieb's strategy to expand its investment funds capabilities. According to a statement from Cleary Gottlieb, the new hire brings significant experience in advising fund managers on structuring and regulatory matters.
Context of Lateral Moves
This is not the first time Cleary Gottlieb has poached from Fried Frank. In 2021, Cleary Gottlieb hired a Fried Frank partner for its private equity practice. Fried Frank has also recruited from Cleary Gottlieb, including a partner who joined its corporate practice in 2020. The competition for talent in the legal sector remains intense, particularly in high-demand areas like funds and private equity.
Impact on the Firms
The hire bolsters Cleary Gottlieb's funds practice, which has been growing in response to client demand. Fried Frank, meanwhile, will need to fill the gap left by the departing partner. Neither firm has commented on any further planned hires. The legal market continues to see significant lateral movement as firms seek to strengthen their offerings in lucrative practice areas.
