06:00, July 18 79 0

2017-07-18 06:00:09
Gibson Dunn targets Ashurst again with German hire

Ashurst has lost its fifth partner to Gibson Dunn & Crutcher in Continental Europe – this time in its Munich office.

Gibson Dunn has hired finance partner Sebastian Schoon, who has been a partner at Ashurst since 2011.

He joined the firm in 2004, and was responsible for running the office’s corporate and finance restructuring practices with Alexander Ballmann.

Schoon joins former Freshfields Bruckhaus Deringer partner Ferdinand Fromholzer, who left for Gibson Dunn over a year ago.

Gibson Dunn has been expanding in Germany in the last 12 months, also hiring two partners from Latham & Watkins in June 2016 to launch a Frankfurt office.

Schoon is the fifth partner to leave Ashurst for Gibson Dunn this year. Last month, Gibson Dunn recruited a four-partner team from the firm’s Paris office including three litigation partners and former office managing partner Bertrand Delaunay.

The exits came just four months after Ashurst’s French operations lost a five-partner corporate and finance team to Freshfields Bruckhaus Deringer.

Gibson Dunn has a history of hiring from Ashurst, particularly in London. Gibson Dunn partners Charlie Geffen, Jonny Earle, Nigel Stacey and Mark Sperotto all joined the US firm in 2014. They were set to be joined by financial regulatory partner James Perry last year, but he decided to remain at Ashurst instead.

An Ashurst spokesperson said: “Our Munich office has always been strong and, in particular, achieved very good results and revenue growth in the last financial year. Equally, in 2016/17 the German banking team had its most successful year since 2007.

“We are continuing to invest in Germany where we want to be larger and, of necessity, having the right calibre of partners in place to achieve further growth is essential. We do not anticipate that this departure will impact our plans or capability in any way. We have spent some time reshaping our European business and we continue to look at opportunities to strengthen the platform.”