McDermott funds partner exits to Simmons amid London funds push

Simmons & Simmons has hired McDermott funds partner Jim McNally in London, continuing a recent push to build out its funds practice.

McNally joined legacy firm Schulte Roth & Zabel in 2012 and moved across to McDermott when the US firms completed their merger last year.

He is known for his work with hedge funds and asset managers, as well as advising activist investors on campaigns across Europe.

The move takes McNally from a firm historically known for its hedge fund work in London to Simmons, which has one of the City's top practices in the area.

Funds push

McNally is the third funds-focused partner to join Simmons in London since May.

The firm hired fund finance partner Chu Ting Ng from Reed Smith in May, followed by another Reed Smith fund finance lawyer, Natalie Sharkey, this week.

UK corporate head Ania Rontaler said McNally’s arrival would deepen the firm’s corporate bench and allow the firm to work with a wider group of clients.

Funds moves

The hiring comes during a busy period for funds talent in the City.

Reed Smith has been among the firms hit by departures this year, with Ng and Sharkey moving to Simmons, partner Linn Mayhew jumping to Eversheds Sutherland and global fund finance head Leon Stephenson recently joining Paul Hastings.

McNally said Simmons' sector focus and international network provided an "ideal platform" to advise asset managers and private fund sponsors.