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Back in the machine: A&O strengthens high yield practice with Cahill Gordon hire

With competition between US and UK firms for dominance in key European finance markets intensifying each month, Allen & Overy (A&O) has laid down a significant marker. It has boosted its US-qualified lawyer ranks in London with the hire of Cahill Gordon & Reindel counsel Jake Keaveny, a high yield specialist, as partner.

Keaveny is relocating from the US firm’s New York office, where he was counsel after being promoted from senior associate in January this year. He has experience of working on US bank and bond deals across capital markets and corporate finance, with a particular focus on leveraged finance transactions, term loan B facilities and high yield transactions.

Keaveny joins A&O’s high yield City practice as a partner following a significant surge in the European high yield market and a period of record issuances.

A&O finance partner and high yield specialist Kevin Muzilla said: ‘Jake is an excellent addition to our existing high yield and leveraged finance capability and he joins us at exactly the right time. It is clear that this market is here to stay, as confidence in the high-yield asset class in Europe matures and continues to build.

‘Clients want firms that can cover both the bank and bond side of transactions under both English and New York law. Jake covers New York law bank and bond transactions equally well. With Jake’s hire, A&O is one of the few firms in Europe that can cover all four bases at a high level here on the ground in London.’

For more detailed analysis on the resurgent debt markets and the opportunities for heavyweight US and UK finance firms, see our recent feature ‘Back in the machine – opportunity and threats amid much-changed debt markets