Paul Hastings adds Ashurst partner to bolster structured finance team

Paul Hastings has hired securitisation partner Tom Picton from Ashurst, strengthening its finance bench after a period of turnover in London for the US firm.

Picton spent nearly eight years at Ashurst’s top-ranked securitisation practice, joining the firm in 2018 from Clifford Chance. His practice spans a wide range of asset-backed products and structures with a strong focus on auto ABS, RMBS and covered bonds.

Expanding securitisation strength

Paul Hastings said Picton’s arrival "marks the latest step in the strategic global expansion of the firm’s complex securitisation and asset-backed financing offering, as clients seek to raise capital using alternative financing tools."

The firm’s structured finance and securitisation team is regarded as one of the market’s strongest, particularly in CLOs, where it ranks among the most active arranger-side advisers globally.

Picton said Paul Hastings "has a top-of-market global finance platform and a structured finance practice," adding: "I am excited to join such a prestigious team and look forward to working with colleagues around the world to continue gaining market share."

Rebuilding momentum

The hire comes as Paul Hastings looks to rebuild in London after a string of senior departures, including the exit of its entire corporate real estate team in recent months.

The firm has also been adding new talent, recently bolstering its competition bench with the hire of Sally Evans from Kirkland. It said the London office has "experienced a period of robust growth" with revenue expected to be up 20-25% this year.