Richard Hakes has returned to law firm Reed Smith as an asset finance partner in London, having left to join Allen & Overy seven years ago.
Hakes trained and qualified as an associate at Reed Smith in 2007, and moved to Allen & Overy, specialising in ship and aircraft finance. He will be tasked with supporting Reed Smith’s ship finance practice and spearheading its aviation practice.
Reed Smith recently appointed other partners for its big ticket asset finance practice including aviation and aerospace finance lawyers Liz Evans in New York and Del Smith in northern Virginia. William Veatch and Catherine Young Hagerty joined the practice in San Francisco.
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Hakes has experience in structured and large-scale asset finance transactions, including export credit, commercial debt finance, Islamic finance, tax leasing, operating leasing, and disposals and acquisitions. In this role, Hakes will advise a number of clients across banks, funds, ship owners, lessors, airlines, and manufacturers.
Rob Wilkins, leading Reed Smith’s asset finance team expansion, said: “With Richard’s arrival we look forward to continuing the growth of the ship finance practice and servicing the high demand from clients in this field.
Hakes said: “I’m excited to return to Reed Smith and have been impressed by the growth in the practice and the firm over the last seven years.
“I look forward to working with them across a range of transactions in the shipping and aviation markets.”
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