Cleary Gottlieb Steen & Hamilton, a New York-based law firm, has hired Edward Aldred as a partner for its private equity practice in London. Aldred, who had spent his entire 20-year career at Linklaters, was the last co-head of the financial sponsor leveraged finance practice. Cleary’s Managing Partner, Michael Gerstenzang, said Aldred would contribute to the firm’s public and private M&A finance practice.
This hire marks at least the third London hire for Cleary in the last six months. In January, the law firm added Ian Shawyer, Travers Smith’s private equity head, as a partner. Last November, Nick Rumsby from Linklaters was also added as a corporate finance partner in London.
Aldred’s hire will undoubtedly be a welcome addition to Cleary’s private equity practice, particularly given his extensive experience in financial sponsor leveraged finance. With Cleary’s strong global reputation for complex M&A work, Aldred’s expertise is expected to complement the firm’s practice well.
Aldred’s move from Linklaters to Cleary Gottlieb is not surprising, given that it’s not unusual for lawyers to move between law firms, especially in the competitive and fast-paced legal industry. It is worth noting that Aldred’s departure from Linklaters is a significant loss for the firm, given his seniority and experience in the financial sponsor leveraged finance practice.
Linklaters, on the other hand, has wished Aldred well in his new role at Cleary Gottlieb. It is a testament to the professional respect between the two firms, despite being competitors in the London legal market.
Overall, Aldred’s hiring at Cleary Gottlieb demonstrates the firm’s continued commitment to building and expanding its private equity practice in London. As the legal industry becomes increasingly competitive, hiring top talent like Aldred will undoubtedly help Cleary Gottlieb maintain its reputation as one of the leading law firms globally.