UK-headquartered law firm Reed Smith has a new global chair of its transportation industry group.
London-based asset finance partner Richard Hakes has been appointed to the role, replacing Rob Wilkins, who has been promoted to take on a broader brief as part of the senior management team.
Wilkins has held the position since 2019, and will continue with his ship finance practice.
Hakes advises clients on shipping and aviation matters.
As well as acting for a number of investors, operating lessors and lenders across the sectors, he is best known for his work for private equity and investment fund clients.
Hakes previously co-chaired the firm’s growing aviation practice, which is a key area of focus for Reed Smith.
Wilkins said: “I am delighted that Richard is taking on the role; he is an extremely talented lawyer who has clearly demonstrated his exceptional leadership abilities with our aviation practice and will be a fantastic industry group leader.
“With his vast experience of both shipping and aviation, he will be able to ensure the group grows and develops with the ever-changing sectors to meet our clients’ needs,” he added.
Hakes called the appointment a privilege.
Hard work paying off
And he added the continuation of the role is a “sure sign that the investments we have made in the wider transportation industry are really paying dividends”.
Hakes said: “We are in a great place as a group thanks to Rob’s leadership. He has — originally in conjunction with Andrew Taylor — transformed our group in a way that preserves its long legacy as the preeminent practise in the shipping market.”
Wilkins’ work has also made the group more interconnected and better able to serve clients across the shipping and aviation industries, he believes.
“As our clients diversify their businesses, our expanded capabilities and reach means that we can continue to partner with these clients every step of the way,” Hakes said.
Reed Smith’s transportation practice covers the full spectrum of legal needs, as well as providing insights and industry-focused reports on trends and predictions to support its clients.
The shipping practice has continued to support clients throughout the pandemic, including advising on the many supply chain challenges that have arisen due to port closures and increased consumer demand, the law firm said.
Work has also been carried out on all of the largest shipping loan portfolio trades, as well as on ground-breaking securitisations for new lenders to the market.
