John Servidio
John Servidio (Courtesy photo)

Winston & Strawn has brought on two New York lawyers in its derivatives and structured products group, amid what one called a strong pickup in demand for the practice.

Winston on Sept. 5 hired as a partner John Servidio, who headed McGuireWoods’ group in the same area, and hired as an associate Daniel Bley from Cadwalader, Wickersham & Taft.

Servidio, a previous assistant general counsel at Bank of America Merrill Lynch, represents dealers and issuers in structuring derivative and equity-linked capital market transactions.

Servidio, 43, said he joined Winston because it had a number of practices his prior firm didn’t heavily focus on but are helpful for his derivatives practice, including banking regulatory, investment management and broker-dealer regulatory work. Servidio said he was also drawn to the firm by Chicago-based Michael O’Brien, who leads Winston’s derivatives and structured products practice. The pair had worked together on past deals, he said.

“It’s easier to build a large practice with a team and a developed platform,” Servidio said, adding that his clients, such as Bank of America Merrill Lynch, are joining Winston with him.

Many law firms have been eager to build out their New York practices in capital markets and structured products this year, he said. While last year was slow in his practice, likely due to the uncertainty involving the U.S. elections, demand from banks and hedge funds has substantiality picked up in 2017, he said.

It’s the largest growth in demand he has seen in the practice since the end of the financial crisis in 2009, he said. He attributes the rise to stock market gains and corporate profits, while there has been less new regulation under the Trump administration.