Fried Frank loses capital markets team to Willkie Farr in Germany
Fried Frank Harris Shriver & Jacobson has lost the bulk of its German capital markets team to US rival Willkie Farr & Gallagher, with the hires marking the launch of Willkie Farr's capital markets practice in Frankfurt. Fried Frank's Frankfurt-based capital markets head and office co-managing partner, Michael Schlitt, joined Willkie Farr this week (1 October) with the bulk of his team of four associates expected to follow suit. Schlitt joined Fried Frank last August after seven years with Allen & Overy (A&O) where he was head of the law firm's German equity capital markets group.The departures will leave Fried Frank with only two partners in Frankfurt - corporate co-managing partners Sven Schulte-Hillen and Juergen van Kann - and a team of around eight associates. It is understood that the firm has yet to decide whether or not to rebuild its capital markets group as a result of the poor market conditions.Schlitt, who has previously worked with clients including Citi, Credit Suisse, Dresdner Kleinwort, Morgan Stanley, UBS, JPMorgan, Merrill Lynch and Allianz, becomes the sixth partner for Willkie Farr in Frankfurt.His hire means Willkie's Frankfurt office now covers four main practice areas - mainstream corporate, M&A and private equity; tax; finance and capital markets. M&A partner Jochen Winter, who joined Willkie Farr in early 2006 from Linklaters, said: "With the addition of Schlitt we now have in place the four cornerstones of our practice and can offer a project-based practice in Frankfurt built around top local practitioners, as promised to the market." Schlitt added: "I joined Willkie Farr because it is an excellent Wall Street firm with a prominent capital markets practice. I also see very high potential for synergies, especially on the private equity, public M&A and tax side."Fried Frank, which opened in Frankfurt in 2004 with Schulte-Hillen and van Kann, also has offices in London and Paris. Willkie's European coverage includes London, Paris, Milan, Rome and Brussels as well as Frankfurt.
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