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  • December 15, 2008 |

    Shearman promotions see two made up in the City

    Shearman & Sterling has announced its annual promotions round, with 11 lawyers made up to partner, including two in the City. Real estate associate Clare Breeze and finance counsel Mei Lian join the partnership in London, bringing the total number of partners in the US firm's City office to 26.The promotions highlight Shearman's increasing emphasis on international growth, with the majority coming outside of the US.

    1 minute read

  • December 11, 2008 |

    Young solicitor of the year

    The standard of entries for this award are almost always exceptionally high. The judges were extremely impressed with the calibre of the finalists this year and felt that all demonstrated very high levels of technical ability and leadership potential. Carol Lim Apel from Hammonds is developing a burgeoning reputation in the field of nuclear decommissioning and renewable energies. Qualified in Singapore, the UK and the US, she played a key role in successfully guiding an international consortium through the tender process for the first contract to be awarded by the Nuclear Decommissioning Authority. The ongoing work involved with the project is genuinely deserving of that frequently over-used epithet, groundbreaking.

    1 minute read

  • December 11, 2008 |

    Bank duo call for staff to re-apply for jobs after merger go-ahead

    Legal staff at Bank of America and Merrill Lynch have been asked to re-apply for their jobs, as the duo prepare to complete their tie-up in the new year. The two banks have a combined legal team estimated at around 700 lawyers - including those embedded in front office positions - and it is understood that every member is having to re-apply for their post. The move follows Bank of America's $50bn (£38bn) acquisition of investment bank Merrill in September.

    1 minute read

  • December 10, 2008 |

    Life is sweet

    If longevity is anything to go by, working as the top lawyer at confectionery giant Cadbury seems to be one of the, ahem, sweeter in-house roles going.After all, the company - one of the world's largest confectionery businesses - has a knack of being able to retain its staff. Chief legal officer and group secretary Hank Udow has been at the company for more than 20 years and is still fascinated by his work.He says: "It still amazes me how many interesting and complex transactions I have had the opportunity to do at Cadbury. It is never dull. The scope of activities from a legal perspective is enormous."

    1 minute read

  • December 10, 2008 |

    Germany: The credit what?

    Lawyers from a number of independent firms in Germany say the credit crunch has yet to have a major impact on their overall workload. And while they are clearly keeping a close eye on the evolving economic situation, many firms are maintaining plans to take on new lawyers - evidence of the seemingly resilient state of many of the country's independent players. "It is too early to tell what the impact of the credit crunch will be," explains Rainer Loges, managing partner of Gleiss Lutz. "We have seen less new large M&A deals and fewer leveraged deals in general - and some M&A deals have collapsed altogether - but besides that there have not been big changes so far. The profession is expecting a slower year for 2009, but my impression is that most people don't think it will be that bad. I would not expect many German firms to lay off people. In any event, we are planning to hire further."

    1 minute read

  • December 7, 2008 |

    The Middle East, post-Lehman: A tale of two Emirates

    For the aspiring global firm, a shingle in Dubai has been one of the must-haves of the last five years. Last week Weil Gotshal & Manges joined the…

    1 minute read

  • December 3, 2008 |

    Shearman, Debevoise and Gibson Dunn brave market to advise on $800m LBO

    Shearman & Sterling, Gibson Dunn & Crutcher and Debevoise & Plimpton have taken roles on a leveraged buyout worth $800m (£664m). The deal, which included $600m (£498m) finance, saw Gibson Dunn corporate partner Paul Harter advise Investcorp and Barclays Private Equity, with NCTM handling Italian M&A aspects of the deal, which saw the acquisition of N&W Global Vending.Shearman's London office advised Investcorp and Barclays Private Equity on raising the debt to fund the acquisition, one of the largest leveraged buyouts of 2008.

    1 minute read

  • December 3, 2008 |

    Commentary: Banking regulation work emerges as the new private equity

    Has there ever been a better time be a specialist in financial services regulation? For years, such lawyers toiled away little-noticed within a dozen or so major commercial firms, prospering in sizeable numbers in Allen & Overy (A&O), Clifford Chance (CC) and CMS Cameron McKenna. But despite the creation of the Financial Services Authority (FSA) a decade ago, this group was hardly the most visible or loved of its breed, despite in recent years enjoying some of the highest charge-out rates in the City.

    1 minute read

  • December 1, 2008 |

    Shearman adds partner trio to Abu Dhabi arm

    Shearman & Sterling is ramping up its efforts in the Middle East with a significant expansion of the firm's Abu Dhabi office. The office - which opened in 1975 - is set to double in size with the addition of three partners and a number of associates.M&A partner James Comyn will head out to the region this month, while Paris capital markets partner Manuel Orillac will join the office next year. They will be joined by London-based property partner Ian Nisse, who is relocating to the office in 2010.

    1 minute read

  • November 19, 2008 |

    Something to bank on

    The transformation of Goldman Sachs and Morgan Stanley into bank holding companies may be the end of one era, but it is the start of another. And one group of lawyers is thrilled about the change: banking regulatory specialists.That's because Goldman and Morgan now face scrutiny from the Federal Reserve and the Federal Deposit -Insurance Corporation. Also, they will have to adopt risk-management policies which limit how much debt they can take on.

    1 minute read