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  • April 4, 2008 |

    Morgan Lewis picks up Paris funds partner

    Morgan Lewis & Bockius has strengthened its Paris arm with the hire of Debevoise & Plimpton local private equity and fund formation head Ann Baker. Baker, who was an international counsel at Debevoise, becomes the first dedicated funds partner at Morgan Lewis' French outpost. She is accompanied to her new firm by associate Rima Maitrehenry.

    1 minute read

  • April 2, 2008 |

    Middle East and India: Money talks

    Sovereign wealth funds (SWFs) have dominated the headlines of recent weeks after buying stakes in US investment banks hit by write-downs of billions of dollars. The $7.5bn (£3.7bn) equity investment by Abu Dhabi Investment Authority (ADIA) in Citi is a notable example. Two weeks ago the Government of Singapore Investment Corporation broadened its reach by investing A1bn (£788m) in a company controlled by Italy's Benetton family. Many of the state-owned SWFs, such as the Kuwait Investment Authority, have in fact been in existence for half a century or more. However, the spotlight has only really been focused on these funds in the past two or three years. This is primarily due to the abundance of super liquidity arising from the spike in the price of commodities, most notably oil (up from $10 (£5) a barrel in 1990 to $100 (£50) or so now) but also the steady decline in the dollar, which has had a marked impact on the fortunes of China and other east Asian countries.

    1 minute read

  • April 1, 2008 |

    MacRitchie hands Shearman City reins to Ward

    Anthony Ward is stepping up to become managing partner of Shearman & Sterling in London, the US firm announced today (1 April). Ward, who is currently head of Shearman's City finance team, will succeed high-profile incumbent Kenneth MacRitchie in the management role. MacRitchie returns to full-time fee earning in the project development and finance group after six years at the helm of the London office.

    1 minute read

  • March 31, 2008 |

    Ex-Latham partner defrauded clients and firm

    A former Latham & Watkins partner last week pleaded guilty to defrauding both clients and his own firm by charging them more than $300,000 (£151,350) in personal or false expenses, writes the New York Law Journal. Samuel Fishman, an M&A specialist in Latham's New York office from 1993 to 2005, pleaded guilty to mail fraud on 28 March. Prosecutors said Fishman had a number of inappropriate items to bills, mischaracterising them as charges for photocopying or express mail. He also fraudulently sought reimbursement from his firm for personal expenses.

    1 minute read

  • March 28, 2008 |

    US Briefing: Summer associate hiring wilts in '08

    Summer associate ranks look thinner for the upcoming season as many of the nation's law firms have pulled back from the record-breaking hiring of 2007. A sampling of summer associate programs at several top firms shows a decrease in the number of students that they plan for this year. With last year's summer associate tallies representing all-time highs at some of those firms, they appeared more guarded at recruiting time last fall. And as the economy has taken a dramatic downturn since on-campus interviews that began in August 2007, some law firms could find a mismatch in the supply of summer associates and their demands for full-time starters.

    1 minute read

  • March 27, 2008 |

    Both your houses: dust settles on White & Case exits to reveal two visions and an opportunity

    So after just the seven years of claims that he is leaving White & Case, Maurice Allen finally confirmed that he is to head for Freshfields Bruckhaus Deringer along with fellow banking heavyweight Mike Goetz. It's an understatement to say White & Case-watchers were not surprised; the intensity of rumours regarding the US firm's most high-profile UK lawyer had picked up over the last two years. But it was in January when the claims for the first time appeared to be something more substantive than standard City gossip.

    1 minute read

  • March 26, 2008 |

    Both your houses - dust settles on White & Case exits to reveal two visions and an opportunity

    And there is no doubt that Allen and Goetz deserve substantial credit for these successes. Indeed, despite initially making an odd pairing – the more reserved Goetz was cut from different cloth to the gregarious sports fanatic Allen – the pair became close colleagues and an effective team. Indeed, in many ways his work at White & Case has proved Allen's vindication, disproving critics that argued that a career built on his early success at CC had long been sustained by spin.

    1 minute read

  • March 26, 2008 |

    Reed Smith in Dubai shipping launch

    Reed Smith Richards Butler is launching a shipping team in Dubai with the relocation of City partner Adam Morgan, as the US firm gears up to develop its international shipping practice. Shipping and aviation finance partner Morgan moves to Dubai on 1 April. His experience includes leading the shipping practice at legacy City firm Richards Butler between 2000 until 2004 and previously spent a decade in Hong Kong.

    1 minute read

  • March 26, 2008 |

    Bear Stearns general counsel cashes in

    Three months before the stock price of Bear Stearns plunged below $3, general counsel Michael Solender unloaded 2,087 stock options at $89 per share, writes The American Lawyer. The sale meant Solender pocketed $186,000 (£93,840) on 21 December, according to a form filed with the Securities & Exchange Commission (SEC).

    1 minute read

  • March 25, 2008 |

    Melvyn Weiss agrees guilty plea for role in kickback scheme

    Class action legend Melvyn Weiss last week (20 March) agreed to plead guilty to a federal racketeering charge over his participation in a scheme to pay kickbacks to lead plaintiffs in shareholder suits. The plea agreement recommends a sentence of between 18 and 33 months in prison for Weiss, 72. He also has agreed to pay $10m (£4.93m) in fines and forfeited fees.

    1 minute read