Latham and Watkins hires two capital markets partners from Davis Polk as US firms accelerate lateral recruitment in London and New York
Latham and Watkins has recruited two capital markets partners from Davis Polk and Wardwell, both known for advising on high-profile IPOs (initial public offerings) including those for SpaceX and Circle Internet Group. The move is the latest in a sustained pattern of US elite firms using lateral partner hires to build or deepen specialist practices, particularly in technology-sector capital markets. The pair bring direct experience of the most consequential equity offerings in the technology and fintech (financial technology) space. SpaceX, the private space and satellite business, and Circle, the operator of the USDC stablecoin (a digital currency pegged to the US dollar), represent two of the most closely watched potential listings in the market. From a City perspective, the hire reflects the ongoing restructuring of the transatlantic legal market. US firms operating in London have been competing for partner-level talent across practices including capital markets, leveraged finance, and international arbitration. Lateral moves at partner level reshape client relationships and deal flow, as clients often follow practitioners, making these hires competitively significant beyond the individual firms involved. For law students targeting US firms in London, the sustained investment in capital markets capability signals demand for trainees and associates with strong equity markets and tech-sector transaction experience.
Why this matters
Partner-level lateral moves between elite US firms in capital markets are commercially significant because they directly reallocate client relationships and future deal mandates. Davis Polk is one of the leading IPO advisers in the US market, and losing two experienced partners with SpaceX and Circle credentials represents a meaningful shift of deal flow potential to Latham. For City students, the pattern of US firms continuously upgrading their capital markets benches reflects the sustained volume of technology-sector equity offerings and the premium placed on advisers with direct relationships with the most valuable private companies approaching IPO. The hire also illustrates why lateral recruitment intelligence matters for understanding firm strategy: Latham's capital markets expansion is a deliberate positioning ahead of what many expect to be a busy H2 2026 IPO pipeline.
On the Ground
A trainee in a capital markets team benefiting from this kind of hire would assist with prospectus drafting and verification note preparation for incoming mandates brought by the new partners. They would also prepare listing application forms and coordinate with local counsel in relevant jurisdictions for cross-border IPO transactions where the new partners' relationships generate work.
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