US firm Milbank Tweed Hadley & McCloy has hired Clifford Chance (CC) partner Patrick Holmes for its London office as it prepares for a US recession.
Holmes, a banking specialist previously based in Moscow, will not join as a partner initially and will take the US-style position ‘of counsel’.
He joins as part of the firm’s strategy to build the London office to 60 lawyers, which includes the
addition of four more English partners. Mel Immergut, Milbanks’ chair-man, said the firm’s strategy of expanding beyond its respected project finance practice should help protect it from a recession in the US. “There is a good chance of a downturn and we have planned for it,” Immergut said.
