Allen & Overy has poached Dan Cunningham from Cravath, Swaine & Moore, the blue chip Wall Street law firm, and put itself in pole position among European law firms trying to increase their advisory role for European corporates on US acquisitions.

Cunningham's move to A&O, the UK-based international law firm, is the first time a significant New York deals lawyer has moved from a US outfit to the New York office of a European law firm.