Magic circle firm Allen & Overy have confirmed the appointment of Ashurst's head of banking as they look to continue strengthening the practice area. 

Having worked previously for JPMorgan in London, and in Madrid for Natwest and Santander, Juan Hormaechea has all the necessary attributes for a firm of Allen & Overy's stature. The Spanish banking sector is currently undergoing significant regulatory changes, and this can be seen as a move with a view to ensuring the firm have the appropriate team in place going forward.

Making the move in August, Hormaechea said that “the project at Allen & Overy in Spain, and the ability to contribute to their growth has been the incentive in deciding where to continue my career.”

This move is the latest in a series of changes to the banking team at Allen & Overy, Jimena Urretavizcaya was promoted in April,  taking the total of partners to five.