Hogan Lovells has boosted its German finance practice with the hire of a two-partner derivatives team from Mayer Brown, led by European capital markets head and global partnership board member Jochen Seitz.
A Hogan Lovells spokesman confirmed that Seitz will be joining the firm immediately, with fellow Mayer Brown derivatives partner Peter Maier set to follow within the next four weeks, after serving a notice period.
Hogan Lovells’ global finance head Sharon Lewis said that Seitz and Maier’s combination of derivatives and regulatory expertise makes them a “unique proposition” within the German market.
Continental Europe managing partner Burkhart Goebel added that the hires will be “invaluable” for the firm’s clients across the region in what he described as a “significant time” for Europe’s financial services industry.
Seitz is one of eight partners ranked as derivatives experts in the latest edition of legal directory Chambers & Partners. He recently advised the banks on a series of bond issuances by German financial institution Berlin Hyp AG and energy services company Die Eurogrid GmbH.
A spokeswoman for Mayer Brown said in a statement that the firm “do[es] not expect these departures to adversely affect our global practice.” She added: “We wish nothing but the best to Jochen and Peter. We continue to have a broad and deep capital markets team in Europe, which includes German-qualified capital markets partners in both our German and London offices. In addition, we have a strong global and regional leadership team focused on expanding and broadening our capital markets practice throughout the regions in which we serve our clients.”
Mayer Brown has not yet decided who will replace Seitz as head of its European capital markets practice, the spokeswoman added.
Hogan Lovells recently offered voluntary retirement to 400 U.S. support staff, while another 90 support roles in London will either be cut or relocated as part of a restructuring.
Hogan Lovells launched a $9 million global business services center last year in Louisville, Kentucky, which focuses on billing, conflict checks and technology support work. That followed the firm’s establishment of business services centers in Birmingham, England, and Johannesburg, South Africa, both of which were launched in 2014.
Hogan Lovells deputy CEO David Hudd, who earlier this month had his leadership term extended by two years, said in a statement that the restructuring is “part of our strategy to evolve our firm so it continues to meet our business needs as well as those of our clients in a rapidly changing and highly competitive market.”
“We are fully committed to ensuring that our people are treated fairly and are fully supported throughout this process,” he said.
The American Lawyer recently published a feature article analyzing Hogan Lovells’ performance, strategy and post-merger integration.