US firm Katten adds third partner to new London finance practice

US firm Katten has completed a three-partner raid on Crowell & Moring's London finance practice, hiring structured products and derivatives partner Charles Wakiwaka.

Wakiwaka becomes the latest addition to Katten's newly launched structured products and derivatives practice, following the arrival of partners Jennifer Kafcas and Alvino van Schalkwyk last month.

The trio all joined Crowell & Moring from McGuireWoods in 2021 and have worked together for a number of years. Before joining McGuireWoods, Wakiwaka spent more than 12 years at Clifford Chance.

Finance push

Katten said Wakiwaka's arrival strengthens its transatlantic finance offering as demand for complex structured products and derivatives advice continues to grow.

He advises investment banks, insurers, alternative asset managers and other financial institutions on derivatives, structured finance and capital markets transactions across multiple asset classes.

Kafcas, who leads the new London practice, said she and Wakiwaka had collaborated for many years on cross-border matters.

London expansion

Wakiwaka is the latest in a string of hires as Chicago-headquartered Katten continues to invest in its London office.

The firm recruited financial markets and regulation partner Charlotte Hill from Charles Russell Speechlys earlier this month, alongside two lawyers from DLA Piper in January - restructuring partner James Davison and counsel Victoria Procter.

London, which opened in 2005, is Katten's largest office outside the US and now has around 20 partners among 50 lawyers. Alongside Shanghai, it is one of only two offices outside the firm's domestic market.

The hiring drive follows a recent pay rise for junior lawyers in London. Newly qualified associate salaries have risen by £10,000 to £135,000, Financial News reported.