International firm Akin Gump has announced the hiring of 22 partners from the London, Hong Kong and Frankfurt offices of US-based Bingham McCutchen.
The move will bring together Akin Gump’s financial restructuring practice in the US with the London-based leaders of Bingham’s financial restructuring group.
Akin Gump said the expansion is expected to make its London office among the top 20 international firms in London by turnover and ‘dramatically enhance’ the firm’s global status.
Akin Gump’s existing London and Hong Kong offices will grow, while the firm will establish a presence in Germany for the first time. The move will be effective over the next two weeks.
‘This will be transformative in enhancing our brand as a leading global firm,’ said Kim Koopersmith (pictured), Akin Gump’s chairperson.
‘The attorneys joining us are hugely respected for their strength in areas that are key to our firm and clients, including financial restructuring, finance, disputes, tax, regulatory and corporate, and will build upon our own very strong teams in these and other areas. This move also helps us diversify into key areas across Europe and Asia.’
The financial restructuring team has been involved in several high-profile restructurings throughout Europe and Asia in recent years.
These have included advising the bondholders of the Icelandic banks Kaupthing, Glitnir and Landsbanki since the banks’ failure in 2008, the bondholders of Suntech on recoveries from the bankruptcy of one of China’s largest solar-panel makers, and the creditors of Quinn Group in Ireland.
The incoming group’s financial dispute resolution practice will continue to represent European and US-based financial institution clients, including investment banks, hedge funds and investment management companies, with incisive, commercial advice.
Akin Gump has more than 900 lawyers in 20 offices in the US, Europe, the Middle East and Asia.