Law firm Clayton Utz has created a new role in its management to enable an investment banker to join its ranks.

The firm has created the director role in its project finance team so that banker Angus Foley, former head of project finance for Crédit Agricole CIB Australia, the Australian arm of major French back Crédit Angricole S.A.. Foley will join the law firm in May.

Steve O'Reilly, the head of the firm's banking and finance practice, said the position is equivalent to a consultant, reflecting the fact that the firm expects to call on his legal and non-legal expertise, Law.com reports.

His appointment follows that of international project finance lawyer Bruce Cooper from Asia last year

Foley holds a Master of Laws and spent eight years practising as a lawyer before beginning a career in investment banking, at Credit Suisse First Boston. In 2002 he joined CBA, where he held various roles including Head of Social & Corporate Infrastructure and Head of Infrastructure Clients.

At Credit Agricole, Foley led deal teams on the arranging or refinancing of facilities for a number of significant projects including the Port of Brisbane privatisation, the M2 upgrade project, the South West Queensland Pipeline expansion (for Epic Energy), and the Waterloo Wind Farm project.

"[Foley] has a strong commercial background and broad experience in structuring deals in the Australian market," said O'Reilly.