At the same time, Jones Day Paris will add two tax lawyers from the Allen & Overy team, with partner Siamak Mostafavi joining on October 1 and associate Nicolas André arriving on October 11. Mostafavi had founded Allen & Overy’s tax team in 1999.
The recruitment of Bonvarlet is a strong one for Sullivan & Cromwell. The team currently punches above its weight, with four IFLR1000 leading lawyers: Gauthier Blanluet and Olivier de Vilmorin in M&A and William Torchiana and Richard Vilanova in equity capital markets (ECM). In 2012-13 the Paris team also lost one of its strongest ECM partner in Krystian Czerniecki, who relocated to Frankfurt. Bonvarlet hence reinforces the office considerably.
“We are delighted Patrick will be joining us,” says Sullivan’s chair Joseph Shenker, while the Paris team says: “We and others at S&C have known and worked with Patrick for many years on a wide variety of matters and we are confident that his broad skills and leading profile in the M&A, ECM, corporate finance and restructuring areas will be a great asset for our practice here in France and internationally.”
Bonvarlet has a strong base of industrial clients and one of his most high profiles roles saw him leading the Freshfields team advising Eurotunnel on its two and half year long restructuring process, involving bankruptcy, finance and equity aspects. Bonvarlet was instrumental in getting the senior creditors to agree to a debt reduction scheme. On the flip side, the move is certainly a knock to Freshfields’ presence on the Paris equity landscape.
For Jones Day, Mostafavi brings with him a tax practice focused on advising financial institutions on the tax aspects of financings and derivative deals, meaning the move will boost the firm’s clout in banking and finance, derivatives and fund formation. Mostafavi will work alongside Emmanuel de la Rochethulon.
The news follows the firm’s recruitment in October 2012 of a five-strong finance team from Gide Loyrette Nouel led by derivatives partner Alban Caillemer du Ferrage, an IFLR1000 leading lawyer.