Sushila Nayak and James Jirtle join Dechert to lead its London CLO practice
Dechert has bolstered its structured credit and CLO capabilities with the hire of a four-lawyer team from Orrick in London, led by partners Sushila Nayak and James Jirtle, in a move that underscores the firm’s ambition to lead in the CLO and ABS markets on both sides of the Atlantic.
The arrival of Nayak and Jirtle, along with two associates, strengthens Dechert’s 165-lawyer London office and brings significant depth to its structured finance platform. The firm’s global finance and real estate co-chair, John Timperio, described the hires as a strategic step. “The structured credit and CLO space is growing rapidly,” he said. “The added expertise of Sushila, James and their team will contribute to our practice and expand our service offerings to financial institutions and asset managers worldwide.”
Embed from Getty ImagesNayak, who previously served as co-head of Orrick’s structured finance group, is dual-qualified in New York and England and Wales. She specialises in CLOs and securitisations of esoteric asset classes, including trade and commodities receivables, music and television rights, tax liens, and renewable energy-backed loans. She also advises on private debt transactions and has extensive experience with both European and US structured finance products, including compliance with European risk retention requirements.
Nayak’s remit at Dechert includes co-leading the firm’s London-based CLO practice, marking a clear signal of Dechert’s intention to grow its European presence in this highly competitive sector.
Jirtle, who made partner at Orrick in 2024 after joining from White & Case, is also recognised for his structured credit expertise. He advises arrangers, managers, issuers and investors on CLOs and the warehousing and securitisation of assets. His work frequently involves navigating complex European securitisation regulation frameworks.
The move is the latest in a string of key London hires by Dechert. The firm recently recruited Nick Tomlinson from Gibson Dunn into its corporate and securities practice, and Anthony Lombardi from DLA Piper to expand its fund finance group.
Dechert claims it now works with more than 50 CLO managers globally – more than any other law firm. In 2024 alone, it advised on 94 CLO deals worth more than $39.5bn. The firm notably advised Barings on the first-ever European mid-market private credit CLO in November, and recently acted for Golub Capital Partners on a record-breaking $2.5bn CLO transaction.
These high-profile mandates reflect Dechert’s growing influence in the structured finance world and a clear strategy to dominate both the US and European CLO markets.
Orrick, meanwhile, has seen several notable departures from its London office over recent months. In January, partner Daniel Wayte left to join Akin’s newly launched global capital solutions team. Last October, Kelly Hagedorn, a data protection and regulatory enforcement partner, exited for Alston & Bird.
Dechert’s latest hires confirm its status as one of the most active firms in the London legal hiring market and reinforce its structured finance bench at a time when demand for complex financing solutions continues to rise across Europe and the US.
