(Corrects second paragraph to show Sah’s previous remit at Morgan Stanley was for the firm’s wealth management business, rather than for the company as a whole)
LONDON, July 26 (Reuters) - London “magic circle” law firm Clifford Chance is beefing up its UK regulatory advice practice by re-hiring Monica Sah, a leading member of Morgan Stanley’s in-house legal team.
Sah, who is joining Clifford Chance’s financial markets and regulatory practice as a partner, spent seven years at the firm before leaving for Morgan Stanley in 2004, where she was head of legal for the firm’s wealth management business in Europe, Middle East, Africa, Asia and Australia.
Chris Bates, who leads the Clifford Chance markets and regulatory team, said the appointment came at a critical time as clients faced an unprecedented regulatory overhaul in the wake of the credit crisis.
“Monica is an important addition to our senior advisory resources and she will be able to turn to the advantage of our clients her experience as a senior lawyer in a leading financial institution,” Bates said.
Clifford Chance is trying to position itself as the leading regulatory legal advice practice as financial institutions grapple with a raft of regulations such as the Basel III banking reforms, Dodd-Frank reforms to promote U.S. financial stability, the AIFM alternative funds directive and new over-the-counter directives.
Sah is the first partner hire to beef up Clifford Chance’s regulatory advice practice since it recruited Simon Gleeson from rival Allen & Overy in 2007, although Simon Crown was prompted from the rank of “associate” in 2009. (Reporting by Kirstin Ridley; Editing by David Holmes)