Ashurst zeros in on corporate practice following wind-down of Commonwealth work, adds new co-head of M&A

The Excellence Award winner at the 2024 Lawyers Weekly Australian Law Awards joins Ashurst this week, after confirming his departure from HSF – where he started his legal career after graduating from law school in 1996 – late last year.

HSF confirmed Damian was retiring from the partnership in December last year, as reported by The Australian Financial Review, which noted that Damian was expected to move to Ashurst for a salary package of approximately $7.5 million.

This news comes after Ashurst announced its departure from Canberra last month, with national law firm Thomson Geer to take over the firm’s entire Canberra office and Ashurst bowing out of work for the Commonwealth government under the Whole of Australian Government (WoAG) Legal Services Panel.

Throughout his career, Damian has advised on more than $250 billion completed and announced M&A deals. He has been the lead adviser on the $32 billion acquisition of Sydney Airport by Sydney Aviation Alliance, Australia’s largest-ever takeover and infrastructure deal, Santos on its $80 billion merger discussions with Woodside Energy, and CSR Limited on its $4.3 billion acquisition by Saint-Gobain, as previously reported by Lawyers Weekly.

Damian is also ranked Band 1 in the Chambers Global and Asia Pacific Legal Guides for M&A, one of a “small handful” of lawyers in Australia to hold such a high ranking, according to HSF. According to Ashurst, Damian’s appointment will bolster its Australian corporate practice, which is also rated Band 1 for M&A – and has added 10 new partners in the past two years through promotions and targeted hires.

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Ashurst also promoted 20 partners globally, including three in Australia in April. In recent months, the firm has also added five risk advisory partners to its ranks (two in February and three in October) and named a new BD chief in November.

Damian will serve in his role alongside fellow co-head of M&A (Australia) Neil Pathak, as well as work with John Brewster, who is the head of the corporate practice in Australia.

“The Ashurst team has a bold vision. I am excited to be a part of it. Exceptional outcomes for our clients, along with an exceptional experience for our people, are all part of that vision,” Damian said.

“I was drawn to Ashurst’s ambition, and to its outstanding array of Australian and global talent. It’s a great team that I have respected on the other side of deals for a number of years, such as ANZ’s A$4.9 billion acquisition of Suncorp Bank. I look forward to making my contribution to the continuing success of the firm.”

Commenting on the new appointment, Ashurst’s global CEO Paul Jenkins said he was excited to welcome Damian to the firm.

“Tony has an enviable reputation as one of the top M&A lawyers in Australia, and he is well-known in regional and global markets. His expertise, deal list and client relationships are outstanding, and he will be an excellent addition to our already strong M&A team,” he said.

“At Ashurst, we are focused on meeting growing client demand in key practice areas, including corporate/M&A and private capital. Tony’s arrival will significantly strengthen our capability in these areas and enhance our position as one of Australia’s leading corporate law firms.”

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