Cadwalader hires Dechert partner to expand financial operations in London

Finance


  • The company said Smridhi Gulati will co-lead Cadwalader’s European leveraged finance and private credit businesses.
  • Cadwalader is at least the eighth global law firm to add a partner to its London finance team this year.

[Reuters]- Law firm Cadwallader Wickersham & Taft has hired a partner from its U.S. rival to jointly lead a London-based leveraged finance and private credit group to expand its global financial operations. is continuing to expand, the company said Monday.

Smridhi Gulati joined Cadwalader from Dechert less than a week after structured finance partner Ryan McNaughton joined from King & Spalding in New York.

Atlanta-based King & Spalding also announced in February that four finance-focused partners, including Ronald Lovelace, who joined as head of leveraged finance, would depart Cadwalader’s Charlotte, North Carolina office. I saw.

Cadwalader’s London managing partner Gregory Petrick said in a statement that Gulati “will help lead” the growth of the firm’s European private credit business.

The firm remains “very bullish” on private credit market growth, Wes Mission, co-chair of the financial group, said in a statement.

“We expect private credit to continue to gain significant market share in the credit market from corporates to real estate borrowers, following the pressure on banks from the March developments,” Petrick said in an email.

Gulati advises private credit funds, banks, private equity sponsors and corporate borrowers on international leveraged and acquisition financing transactions, Cadwalader said in a statement.

According to her biography archived on Dechert’s website, her clients include alternative investment managers Ares Management Limited, Royal Bank of Scotland plc, HSBC Bank plc, PwC and UK-based Shawbrook Bank. It is

The London legal market has seen demand for financially focused partners since the beginning of the year, with firms such as O’Melveny & Myers, Eversheds Sutherland, Weil, Gotshal & Manges, McGuireWoods, Clifford Chance and DLA Piper joining the practice. It is rising. .

New York-based Cadwalader last year hired five partners for its global financial operations, including London’s Matthew Smith and Bevis Metcalfe.

A Dechert spokesperson did not immediately respond to a request for comment on Gulati’s resignation.

(Note: This article has been updated with additional information from Cadwalader.)

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