Weil Gotshal & Manges has added a pair of high yield partners to its banking practice in London from Freshfields Bruckhaus Deringer and White & Case. 

The hire of Andy Hagan and Gilles Teerlinck comes in the same week that the New York-based firm added M&A partner Sarah Flaherty to its corporate practice in London from Linklaters. 

It also follows Weil losing its European high yield transactions team lead Patrick Bright to Paul Hastings in London last December, just a few weeks after veteran banking and finance partner Morgan Bale left the firm for Paul Hastings in New York. 

Hagan and Teerlinck advise clients on complex cross-border leveraged finance transactions and have a particular focus on public and private high-yield bond financings, acquisition finance, private placements, restructuring and liability management transactions, Weil said. 

“Andy and Gilles are two outstanding capital markets lawyers with extensive experience advising clients across industries, and we are excited that they are joining us to lead the continued build out of the European high yield practice,” said Weil executive partner Barry Wolf. 

Hagan has joined Weil after almost seven years as a partner at Freshfields, prior to which he was at Kirkland & Ellis in London. He has worked with clients in sectors including telecommunication, retail and agribusiness and in 2021 led a Freshfields team that advised Bain Capital and Cinven on the acquisition of Lonza Specialty Ingredients for CHF 4.2bn ($4.7bn). 

Meantime, Teerlinck has moved over from White & Case, which he joined as a partner in 2018 from Kirkland & Ellis. At White & Case he was based in the firm’s London and Paris offices and led the firm’s high-yield practice in France, advising clients including BNP Paribas, Credit Suisse and JP Morgan. 

“A top-tier high yield practice is an essential component of our European platform and key to our sponsor and underwriter relationships as well as our restructuring practice,” said Weil London managing partner, Mike Francies. “In Andy and Gilles, we are delighted to have recruited two high yield lawyers of their calibre to join our banking team.”

Weil's banking and finance team is led by New York-based Andrew Colao and Courtney Marcus, who works out of the firm’s Dallas office. In London the team is noted by the legal directory Chambers and Partners for its active sponsor-side practice and cross-border capabilities and will have 14 partners following the arrival of Hagan and Teerlinck.

Allen & Overy boosted its leveraged finance practice in London last November with the hire of high yield partner Marwa Elborai from Shearman & Sterling, having added senior leveraged finance partner duo Annette Kurdian and Robert Burt from magic circle rival Linklaters in 2021.

Linklaters followed up that loss with the hire last March of a trio of leveraged finance partners from Vinson & Elkins that included the US firm’s London head of finance and M&A-capital markets, Noel Hughes. 

A Freshfields spokesperson wished Hagan the best in an email statement, while White & Case confirmed Teerlinck's departure and wished him success for the future.