Allen & Overy appoints ex-Ashurst corporate head Lloyd

He joined as co-head of Allen & Overy's private equity group.

The vote, news of which was first revealed last week, was largely seen as a formality after the magic circle firm successfully courted the private equity star, despite interest from US outfits including Simpson Thacher & Bartlett.

Lloyd resigned from Ashurst last month after 10 years as a partner. He was appointed joint head of the firm's global corporate, commercial and competition practice in July.

Ranked as one of the stand-out private equity lawyers in London, Lloyd has experience advising companies and investment banks on cross-border M&A and corporate finance transactions.

The move will be seen as a boost to Allen & Overy's corporate practice, which has struggled to regain ground in the private equity sector since losing global practice co-head Derek Baird to Simpson Thacher in 2012.

Last week, Ashurst confirmed it had appointed Simon Beddow to replace Lloyd as global co-head of corporate, commercial and competition.

Beddow, an Ashurst partner since 1998 and formerly European managing partner of corporate, will work alongside Sydney-based co-head Phil Brede in the role.

The confirmation of Lloyd's move follows the transfer of several high-profile private equity practice leaders in London in recent months.

Among them are Linklaters' private equity heads Ian Bagshaw and Richard Youle, who are set to join White & Case, while Clifford Chance global head of private equity David Walker quit for Latham & Watkins earlier this year.

This article was originally published by unquote" sister title Legal Week.

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