Allen & Overy has announced the addition of a Department of Justice official to its antitrust practice group.
John Terzaken III, formerly the director of criminal enforcement in the DOJ's Antitrust Division, joins Allen & Overy as a partner. He will lead the firm's cartel defense practice in the U.S., but work closely with his colleagues overseas. Terzaken officially starts with the firm August 1.
At the DOJ, Terzaken oversaw a number of cartel investigations, including the probe into Yazaki Corporation and DENSO Corporation. The companies pleaded guilty to a price-fixing conspiracy involving auto parts and paid a combined $548 million. Most recently, he also oversaw the $160 million penalty agreement with Barclays Bank PLC in the London InterBank Offered Rate scandal.
In an interview, Terzaken said that Washington is a central hub of antitrust enforcement in the U.S., and that the reach of the firm's global antitrust practice was a factor in his decision to join the firm.
"One thing that is very clear is that antitrust is now a global proposition," Terzaken said. "The world of cartel enforcement is about being able to address these issues on a global scale. I think there is no question that the U.S. antitrust division is a critical part of the enforcement regime."
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