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Loeb & Loeb Lures Entertainment Finance Vet from Irell & Manella

Jan. 23, 2019, 2:06 PM

Loeb & Loeb has hired a former Irell & Manella partner, Paul D. Swanson, to serve as chair of its entertainment finance practice in Los Angeles.

Swanson helps clients with negotiations around the financing of production and distribution for numerous types of media including movies, television and video games, and has worked on large M&A deals and bankruptcies.

He has represented Legendary Pictures and several banks that work on entertainment lending.

“One of the main reasons I decided to come to Loeb is that they just have an incredibly diverse entertainment and media practice,” Swanson told Bloomberg Law. “I think with their diverse practice and my entertainment finance practice— there’s just a lot of opportunities for synergy between them.”

The move comes less than a year after five entertainment partners left Loeb to join Paul Hastings and open that firm’s entertainment and media practice in Century City, Calif. Even after that group left, Loeb still had nearly 30 lawyers in the department, according to Loeb entertainment chair Scott Edel.

“Before Paul’s arrival and after the departure of the Paul Hastings group, we grew by about four lawyers across the department,” Edel said. “This is just part of my plan to continue to grow and diversify the practice.”

Loeb is a firm with strong ties to Hollywood and the music and entertainment businesses. The firm was founded in part in Los Angeles and has grown to almost 400 attorneys in eight offices throughout the U.S. and Asia.

As for Irell, the firm wished Swanson well. “We have greatly enjoyed working with Paul over the last several years and wish him the very best as he embarks on this next chapter of his career,” the firm said in an emailed statement.

Loeb announced the addition a day after Irell said it had hired trial lawyer Alex Romain, who has represented the National Football League’s Baltimore Ravens and the former chairman and CEO of Fannie Mae. Romain came from Williams & Connolly, where he had practiced for 17 years, according to Irell’s announcement.

To contact the reporter on this story: David McAfee in Los Angeles at dmcAfee@bloomberglaw.com

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