Latham & Watkins has returned to Clifford Chance (CC) for another star hire, with German banking chief Alexandra Hagelüken becoming the latest senior partner to switch allegiances.
Hagelüken follows CC’s German head of corporate and global co-head of private equity Oliver Felsenstein and private equity partner Burc Hesse in departing to join Latham’s growing German practice. The US firm’s growth in Europe’s largest economy follows a rapid expansion of its City office partially built on the back of a raft of CC hires, including private equity chief David Walker, Africa co-head Kem Ihenacho and private equity partner Tom Evans.
Hagelüken leaves CC after 16 years spent developing the Magic Circle firm’s finance group in Frankfurt. Having made partner in 2006, Hagelüken was elected as the firm’s German head of banking and capital markets at the start of 2013 on a four-year term.
Both German and English law qualified, Hagelüken handles cross-border financings for banks, debt funds and private equity sponsors. She counts investment banks Goldman Sachs and venture capital company 3i among her clients.
Dirk Oberbracht, who heads Latham’s Frankfurt office, said: ‘Alexandra will be a terrific addition to our German practice. Her impressive credentials and experience in domestic and international finance complements our German and European leverage finance practice.’
Hagelüken becomes Latham’s 18th partner in Frankfurt, where the firm has sought to strengthen its leveraged buy-out capability. Her exit follows CC’s heavy restructuring of its German group in a move designed to shrink its headcount in the country.
‘Alexandra is one of the most respected banking lawyers in Germany who has a reputation for being exceptionally hard-working with a fantastic client-service focus as well as being a superb team player,’ added Dominic Newcomb, vice chair of Latham’s global finance group. ‘She has a great mix of experience on both the borrower and lender side that will open up new opportunities on our platform. She will be an excellent addition to our existing top tier team.’
For more on the state of play at Clifford Chance see: Global 100: Clifford Chance – The shoulders of giants