Pinsent Masons has today (3 March) announced the hire of respected Addleshaw Goddard financial regulation head David Heffron.
Heffron, who is highlighted in The Legal 500 for his financial services expertise, has experience advising a wide range of regulated businesses, and has acted for clients including Aviva, Lloyds Banking Group, RBS, Royal London and Saga. In his 16-year career as a partner at Addleshaws, he led the firm’s financial services sector and regulatory practice and recently advised the Council of Mortgage Lenders on the government’s Help to Buy scheme. At Pinsents, Heffron will be tasked with growing the firm’s financial regulation team, who carry out work for the UK’s major retail banks and insurers including Aviva, Clydesdale Bank and Direct Line.
Commenting on the appointment, John Salmon, head of financial services at Pinsent Masons said: ‘We have a growing reputation as a force to be reckoned with in the financial services sector, and are delighted that someone of David’s undoubted pedigree has opted to join us. He shares our desire to further-develop our City practice and provide innovative solutions to clients. We are targeting significant opportunities for further work around transactions, regulatory investigations, payment services and product development and distribution, and David will be key to helping us take the next step in our development.’
Meanwhile, Addleshaws has already announced Heffron’s replacement as head of the financial regulatory practice. Partner Amanda Hulme will take over the firm’s 22-strong team, which specialises in providing non-contentious financial service regulatory advice to regular clients Lloyds Banking Group, Barclays Bank, American Express, Coutts & Co and HSBC.
In a statement, the firm said: ‘David Heffron is leaving Addleshaw Goddard to join Pinsent Masons where his practice will have a much greater focus on insurance and wealth management than the broader financial services role he has carried out at AG for many years.
‘Over the last 20 years, David has made an important contribution to the growth and development of our corporate practice as well as the wider business.’
Commenting on her appointment, Hulme said: ‘Our financial regulation team has gone from strength to strength, with a 50% increase in revenue in the last 12 months and has grown significantly in all respects by deepening its connections with key institutional clients. We have a superb team providing highly innovative advice for market leading clients and I’m looking forward to building on our strong platform.’
For more on Pinsent Masons’ strategy following a change in leadership, see ‘More outward-facing but does new leadership have a message for Pinsents? (£)