Shearman & Sterling hired Alan Rockwell and Michael Chernick, co-heads of Allen & Overy’s U.S. leveraged finance group, as partners in New York.
Rockwell will become co-head of U.S. bank finance alongside partner Maura O’Sullivan.
The hires follow Ward McKimm’s recent appointment as head of Shearman’s global leveraged finance business in London. McKimm rejoined the firm last year, seven years after he left for Kirkland & Ellis.
The new team, which is based out of both New York and London, is meant to strengthen Shearman & Sterling’s position in the area of leveraged finance.
“The opportunity to add Alan and Michael to our team is significant for the firm as we look to further cement our position as one of the leading transatlantic leveraged finance firms,” senior partner David Beveridge said in a statement.
Rockwell and Chernick cover all aspects of leveraged finance, including M&A and private equity LBO financings, according to the firm.
Rockwell practiced in a range of top UK-based firms, including Freshfields and Linklaters, before joining Allen & Overy in 2016. He is dual-qualified under New York law and English law.
Chernick was made partner at Paul Hastings in 2002 and moved to Allen & Overy to join Rockwell in 2017.