Reed Smith has bolstered its capital markets offering in London with the hire of a partner from Linklaters. 

Mark Drury has joined the US firm’s financial industry group after nearly 20 years at Linklaters, where he trained and qualified, making partner in 2016.

Drury’s practice covers the full spectrum of structured finance arrangements, including collateralised loan obligations, risk retention structures and financings, repackagings, fund financings and fund derivatives and balance sheet issuances. He also counsels clients on financial market infrastructure matters, including advising financial institutions and clearing houses in relation to derivatives clearing and payments. 

In addition, Drury advises clients in the fintech arena on matters including crypto-assets, derivatives over crypto-assets, stable coins, central bank-backed arrangements and crypto-asset-based collateral platforms.  

Panos Katsambas, co-chair of Reed Smith’s financial industry group, said: “Mark’s arrival deepens the talent in our structured finance team and firepower to our financial markets infrastructure and fintech offerings. Many of our clients are already aware of the value that he brings to the table and we are delighted to have him on board.”

Drury continues a run of recent partner exits from Linklaters’ London office for US rivals, including that of leveraged finance partner Noel Hughes last week for Skadden Arps Slate Meagher & Flom.

Also last week Paul Weiss continued its eye catching buildout in the city with the hire of Linklaters’ global head of antitrust and foreign investment, Nicole Kar, according to Bloomberg, having hired corporate partner William Aitken-Davies from the firm in September as part of a dramatic private equity raid that also saw it take eight partners from Kirkland & Ellis’s London office. Kirkland then hired senior tax partner James Morgan from Linklaters last month as it restocked its bench following the raid. 

Going the other way, Linklaters hired Jane Caskey last month in London from Norton Rose Fulbright to launch a global risk advisory practice.