Addleshaw Goddard is expanding its City-based banking practice with the appointment as a partner of Michael Crosby, who joins from O’Melveny & Myers in London but is currently on secon
Addleshaw Goddard is expanding its City-based banking practice with the appointment as a partner of Michael Crosby, who joins from O’Melveny & Myers in London but is currently on secondment in Los Angeles.
According to Addleshaw Goddard, his domestic and international experience in leveraged finance and debt capital transactions reinforces the firm’s commitment to winning more high value transactions in the private equity and banking sectors.
Crosby’s practice has focused on acting for a variety of US investment banks and private equity houses, as well as European and UK banks, in private equity-sponsored leveraged finance transactions. Before joining O’Melveny & Myers in 2005, he was an associate in Freshfields Bruckhaus Deringer’s finance practice, following two years with Lehmann Brothers.
‘I am delighted that Michael is joining our business,’ says Richard Papworth, managing partner of Addleshaw Goddard’s finance & projects division. ‘His track record will significantly reinforce and broaden our leveraged finance capability specifically, and our City-based banking capacity more generally.
‘We are building a leveraged finance practice which has its focus on the mid-market, and the potential to be a credible player at the top end of the market. With Michael’s arrival, we are well positioned to continue delivering high-calibre transactional services to the private equity community, corporates and financial institutions. Greater capacity will also give us a stronger platform to exploit the synergies with our corporate division.’
Says Crosby: ‘I’m looking forward to joining a firm which enjoys panel status with all the major lenders and a practice that is well placed to increase its presence across the mid-market.’
Last year Addleshaw Goddard’s leveraged finance team acted for a range of borrowers, private equity investors and lenders including 3i, Barclays, Lloyds TSB, HSBC and National Australia Bank.
The finance & projects division comprises 37 partners, 17 of whom are based in London, and more than 120 other fee earners. The banking practice is active in project finance, real estate finance, social housing finance, acquisition/leveraged finance, asset-based lending and asset finance.
