Shearman throws down high-yield gauntlet with City raid on Latham

The rivalry between US firms' finance teams was heightened last week with Latham & Watkins high-yield London partner Jacques McChesney defecting to Shearman & Sterling. With both firms typically taking top spots in the London high-yield market, the hire was a coup for Shearman, which regards Latham as a direct rival in the high-yield market.