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  • September 19, 2008 |

    A&O bolsters regulatory team with CC hire

    Allen & Overy (A&O) has bolstered its regulatory practice with the hire of Damian Carolan from magic circle rival Clifford Chance (CC). Carolan joins A&O's London office as a partner from CC, where he was a senior associate. He specialises in regulatory matters, specifically focusing on the regulation of wholesale market participants. London regulatory partner Paul Phillips said: "This appointment underlines the firm's commitment to this area at a time when financial regulation is taking on greater strategic importance for our clients."

    1 minute read

  • September 18, 2008 |

    Weil Gotshal, Linklaters take headline roles on dramatic Lehman collapse

    The collapse of Lehman Brothers and takeover of fellow Wall Street institution Merrill Lynch earlier this week have generated roles for a raft of top law firms on both sides of the Atlantic. Weil Gotshal & Manges and Linklaters have both secured lucrative mandates on Lehman's collapse as fears about the wider implications mount.Weil Gotshal was appointed as the main legal adviser to the stricken lender, which filed for Chapter 11 on Sunday night (14 September) after numerous failed attempts to shed its 'toxic assets'. Potential buyers including the Korean Development Bank, Bank of America and Barclays all walked away after weeks of discussions before the bank's spectacular collapse. The mandate will be seen as a coup for Weil Gotshal as the firm's top-tier restructuring practice has lost a stream of high-profile names in recent years, both in the US, where practice co-head Martin Bienenstock last year quit for Dewey & LeBoeuf, and in London, where Chris Mallon quit to join New York rival Skadden Arps Slate Meagher & Flom. Meanwhile in London, Link-laters' role for PricewaterhouseCoopers as the bank's administrator is likely to be the envy of many of its City rivals. The firm is fielding a team under restructuring chief Tony Bugg, banking partner Richard Holden and corporate partner David Ereira advising on UK aspects of the proceedings.

    1 minute read

  • September 17, 2008 |

    A&O set for Munich launch with double Shearman hire

    Allen & Overy (A&O) is to launch in Munich next month with the hire of Shearman & Sterling's Munich head Gottfried Breuninger and M&A partner Astrid Krueger. The departures will leave the US firm with only two partners in its Munich office and will heighten market speculation about Shearman's German arm, which saw its Mannheim office split away earlier this year (1 May) to set up independently as Schilling Zutt & Anschuetz.The Munich hires also mark A&O's third raid on Shearman's German practice this year as it brought in Shearman's global co-head of M&A, Hans Rolf Koerfer, and M&A partner Birgit Reese for its Duesseldorf office in January and March respectively.

    1 minute read

  • September 15, 2008 |

    A dark mood on Wall St

    The world's leading law firms are facing an uncertain new landscape following the demise of two of Wall Street's biggest and most established…

    1 minute read

  • September 15, 2008 |

    Wachtell, Shearman head up $50bn Merrill sale

    Elite US firms Wachtell Lipton Rosen & Katz and Shearman & Sterling have taken the lead advisory roles on the $50bn (£28bn) all-stock sale of banking giant Merrill Lynch to Bank of America. Bank of America was advised by a 23-strong Wachtell team comprising 12 partners, including Edward Herlihy, co-chairman of the firm's executive committee. The team included lawyers from the corporate, antitrust, executive compensation and benefits, restructuring and finance and tax departments.

    1 minute read

  • September 12, 2008 |

    Forget herding cats - leadership is key to success for law firms

    Leading City lawyers believe strong management has helped drive law firms' success in recent years, with new research showing partners are now ascribing far more value to effective leadership than in the past. The latest Legal Week/Big Question survey found that 96% of partners cited effective leadership as being either 'very important' or 'important' to the success of a sizeable commercial law firm. There was not a single respondent who believed management was not at all important in achieving success. Crucially, the survey, which is based on responses from 153 partners, revealed that partners believe those at the coalface are now much more appreciative of the importance of strong leadership at firms, with 55% saying partners attribute 'considerably more' value to leadership now than five years ago. A further 12% said attitudes have changed 'greatly' over the period. Linklaters private equity partner Ian Bagshaw said: "Strong leadership is fundamental to the success of a global firm. There are more and more opportunities open to firms now - sometimes more than they can handle. The quality of the managing partner is to maximise the potential of those opportunities - it is this strategic leadership that firms require."

    1 minute read

  • September 12, 2008 |

    Freshfields leads on €2.79bn Deutsche Bank deal

    Freshfields Bruckhaus Deringer has taken the top role on the latest German banking mega-deal, advising Deutsche Post on the sale of a 29.75% stake in Postbank to Deutsche Bank for €2.79bn (£2.22bn). The magic circle firm's German arm advised on the deal, which closed today (12 September).

    1 minute read

  • September 2, 2008 |

    Hammonds, Shearman score roles on Mid East Man City takeover

    Hammonds and Shearman & Sterling have taken the lead roles advising on the takeover of Manchester City FC by a group of Abu Dhabi investors - reportedly valuing the club at around £200m. Manchester City has instructed regular adviser Hammonds, with client relationship partner David Hull leading the team acting on the majority stake takeover by the Abu Dhabi United Group for Development and Investment (ADUG).

    1 minute read

  • September 1, 2008 | International Edition

    US duo lead on Commerzbank's €9.8bn banking takeover

    New York leaders Shearman & Sterling and Sullivan & Cromwell have bagged top roles on insurance giant Allianz's €9.8bn (£7.9bn) sale of Dresdner Bank to German rival Commerzbank. Shearman is advising Allianz on the deal fielding a team including Duesseldorf-based co-managing partner Georg Thoma. The US firm's German arm has close links with Allianz and advised on its takeover of Dresdner in 2001. Thoma has also worked on deals including Shearman's 2005 acquisition of the outstanding 45% stake in Italian insurer Riunione Adriatica di Sicurta.

    1 minute read

  • September 1, 2008 |

    US duo lead on Commerzbank's €9.8bn banking takeover

    New York leaders Shearman & Sterling and Sullivan & Cromwell have bagged top roles on insurance giant Allianz's €9.8bn (£7.9bn) sale of Dresdner Bank to German rival Commerzbank. Shearman is advising Allianz on the deal fielding a team including Duesseldorf-based co-managing partner Georg Thoma. The US firm's German arm has close links with Allianz and advised on its takeover of Dresdner in 2001. Thoma has also worked on deals including Shearman's 2005 acquisition of the outstanding 45% stake in Italian insurer Riunione Adriatica di Sicurta.

    1 minute read