Carl Sheldon, the former head of Allen & Overy’s US and German operations, has been appointed as general manager of Abu Dhabi National Energy Company, known as TAQA.
Sheldon was promoted to the top post after joining the company as its first general counsel last year, replacing CEO Peter Barker-Homek. Sheldon will now be responsible for managing the daily operations of the government-backed company, which has an asset base of more than US$24.5bn. Last year the company reported revenues of US$4.4bn.
Sheldon spent 17 years at Allen & Overy, and before joining TAQA he was managing partner of the firm’s New York and Frankfurt offices. He said his legal career had been a sound base from which to take on the role as general counsel, helping to establish the company’s legal group. “There are few opportunities in life where one can say that every aspect of my career to date has helped prepare me for this. For me, this is such an opportunity.”
TAQA is a longstanding client of Allen & Overy, having retained the Magic Circle firm in 2007 on a US$9bn global MTN program and a US$1bn commercial paper program. In March the law firm advised the company on a US$320m stake acquisition in Marubeni’s Caribbean power portfolio.“Since TAQA was established in 2005, we have enjoyed a strong working relationship with Allen & Overy and it is excellent news that Carl is on board,” said Barker-Homek at the time of Sheldon’s appointment as general counsel last year.
Allen & Overy currently sits on TAQA’s legal panel, which may well be fruitful for the firm as the company is aiming to increase its asset base to US$60bn by 2012, focusing on the Asian and African markets.
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