Willkie Farr & Gallagher has recruited a five-partner investment management practice from Shearman & Sterling. The high-profile group, led by Washington, D.C., partner Barry Barbash, specializes in advising hedge funds and mutual funds.

It is a homecoming of sorts for Barbash, a one-time Willkie partner who joined Shearman in 1998 after serving as director of the Securities and Exchange Commission’s Division of Investment Management.

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