Freshfields London partner departs to co-head European financial services and funds regulatory practice at Simpson Thacher
A Freshfields partner based in London has left the firm to join Simpson Thacher and Bartlett's London office as co-head of its European financial services and funds regulatory team. The move is one of the more prominent lateral transfers in the London market in recent weeks, occurring against a backdrop described as a volatile lateral hiring environment in which Kirkland and Ellis and Paul Hastings are frequently at the centre of activity. The departure touches a practice area, European financial services and funds regulation, that sits at the intersection of banking regulation, asset management compliance, and EU regulatory law, making it a high-demand specialism as firms compete to advise on FCA and EU-level regulatory change. No financial terms for the move were disclosed. The transfer reflects continued competition among elite US firms with London offices to build out their regulatory capabilities, particularly in areas where the post-Brexit divergence between UK and EU frameworks is creating complex dual-compliance advisory demand for asset managers and financial institutions.
Why this matters
Lateral movement of a senior regulatory partner from a Magic Circle firm to an elite US firm in London is a direct reflection of where premium advisory mandates are flowing. US firms have been willing to offer partner compensation packages that Magic Circle lockstep structures struggle to match, and the financial services regulatory space is one where that competition is particularly acute given the volume of FCA enforcement activity and EU regulatory implementation work. For trainees, this illustrates why financial services regulation is a growth specialism: the post-Brexit regulatory divergence means large asset managers and banks need advice on both UK and EU frameworks simultaneously, generating sustained demand. The specific combination of funds and financial services regulation is notable because it covers everything from authorisation and supervision to product governance and marketing rules across multiple jurisdictions.
On the Ground
A trainee supporting a financial services regulatory partner would assist with drafting regulatory notification letters to the FCA, preparing or reviewing FCA application forms for authorisation or variation of permission, and compiling licence condition summaries for clients navigating dual UK and EU regulatory requirements.
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