GLAS, the debt administrative services provider, will open an office in Sydney with the appointment of lawyer Kate White to support its expansion in Australia.
White will take up the role of general counsel to lead the firm’s in-house legal team. Prior to joining GLAS, she was the senior legal counsel and head of restructuring and recoveries New South Wales at National Australia Bank where she led an in-house team responsible for providing legal and risk management advice in connection with the management of impaired corporate and institutional loan exposures.
“While firms providing similar independent agent and security trustee services have been operating in the European and US markets for a number of years now, it is a relatively new concept to the Australian market,” said Barnaby Webb, head of GLAS Australia.
The firm opened its Melbourne office last year as its first in Australia.
“We are very excited to have Kate joining us given her deep understanding of the local market and extensive network, as well as fulfilling our wish to replicate the operating model of our highly successful London business through the establishment of a dedicated in-house legal team to service our Australian offices,” he added.
In Australia, the firm has taken part in a few major deals such as the Atlas Iron restructuring; the buy-out of SAI Global, where it acted as facility agent and security trustee over both first and second lien; and more recently as security trustee for the Emeco restructuring.
Since the start of 2016, GLAS has opened offices in both New York and New Jersey in the US, as well as Singapore, in addition to its activity in Australia.