Herbert Smith Freehills Kramer has made its first US lateral hire since its transatlantic merger this summer, bringing in a new head of tech transactions in the States.
Burr Eckstut is joining the firm’s New York office from White & Case, where he has been a partner for just over three and a half years.
The hire comes after legacy Herbert Smith Freehills completed its merger with US firm Kramer Levin this June. The firms have since combined their New York teams in Kramer Levin’s offices at 1177 Avenue of the Americas.
Eckstut, who also previously worked at Covington & Burling and Bloomberg, is a technology and IP transactions lawyer with particular expertise in fintech, including blockchain, digital assets and financial markets..
His hire marks the beginning of a US investment plan to hire around 20 new partners in key strategic areas, with global CEO Justin D’Agostino telling Legal Business that the firm also intends to grow in private equity, bankruptcy and restructuring, as well as technology.
‘The expansion of our transactional capabilities is a key strategic priority and an important extension of our global platform,’ D’Agostino said.
This summer Herbert Smith Freehills announced its last financial results for the year leading up to the Kramer Levin merger, with revenue climbing 4% to £1.358bn and profit per equity partner up 8.6% to £1.428m.
Earlier this year Kramer also posted its best-ever financial results, with a revenue increase of 7.3% to $467.2m (£344.8m), meaning the merged firm is set to have combined revenue of around £1.7bn ($2.3bn), placing it on the fringes of the top 20 firms in the world by turnover.
US corporate co-chairs Howard Spilko and Ernest Wechsler said in a statement that Burr would be ‘a catalyst for our continued growth in tech-driven transactions.’
‘Many clients are navigating increasingly complex deals where IP rights, data, and technology are central to the value thesis. Burr understands these dynamics intimately and adds a valuable dimension to our practice.’
