JD Journal » fried frank

Morning Roundup

joshua — Sat, 30 Oct 2010 14:09:05 +0000

Good morning everyone! Today is Monday, November 1st. Here’s a quick look back at Friday’s stories.

Law Students at Wake Forest University in North Carolina delved into an investigation regarding a twice-convicted murderer in South Carolina…

Alston & Bird reached an agreement to expand its office in Atlanta’s One Atlantic Center…

Greenberg Traurig was honored at the Chambers of Latin America Awards…

High-profile South Florida attorney Henry “Hank” Adorno is facing disbarment after the Florida Supreme Court suspended him from practicing law Wednesday….

Mario Mancuso, former US Under Secretary of Commerce for Industry and Security and senior Pentagon official, has joined Fried Frank as a partner…

Former US Under Secretary of Commerce Mario Mancuso Joins Fried Frank

joshua — Fri, 29 Oct 2010 14:22:19 +0000

Mario Mancuso, former US Under Secretary of Commerce for Industry and Security and senior Pentagon official, has joined Fried Frank as a partner resident in the firm’s Washington, DC and New York offices.

Mr. Mancuso is a prominent authority on international security matters and the U.S. government’s regulation of international economic activities particularly with respect to foreign direct investment in the US and US export control laws and regulations. During his tenure in government, he played a leading role in key initiatives including the regulation of foreign direct investment; export controls, economic sanctions and anti-boycott programs; and strategic technology and innovation policy.

Mancuso’s initiatives and responsiblities included serving as a senior-decision-maker in the Committee on Foreign Investment in the United States (CFIUS), helping draft the implementing regulations for the Foreign Investment and National Security Act of 2007 (FINSA), and reviewing more than 200 CFIUS transactions as a regulator. He also developed and implemented the Bureau of Industry and Security’s (BIS) global export control, anti-boycott policy and enforcement program, and helped develop the international economic sanctions programs.

In the press release at the firm’s site, Valerie Ford Jacob, Fried Frank’s Chairperson was quoted as saying: “We are very pleased to welcome Mario to Fried Frank. He will be a tremendous resource for the Firm’s corporate and investment firm clients, as we help them pursue their international business goals. We have seen a significant increase in cross-border investment activity in the technology, mining, defense and transportation sectors. Mario’s ability to provide strategic counsel in the area of foreign direct investment and export controls will be of genuine benefit to our clients.”

Mr. Mancuso’s government experience includes positions as Deputy Assistant Secretary of Defense for Special Operations and Counter Terrorism and as a Special Counsel in the Office of the Secretary of Defense. A former US Army officer, he is a combat veteran of Operation Iraqi Freedom. Prior to joining the government, Mario spent nearly a decade in the private sector as a corporate lawyer advising clients on international mergers and acquisitions and capital markets transactions. Mr. Mancuso was most recently a partner at another leading international law firm.

With more than 500 lawyers, Fried, Frank, Harris, Shriver & Jacobson LLP regularly serves the world’s leading corporations and financial institutions from its offices in New York, Washington, London, Paris, Frankfurt, Hong Kong and Shanghai.

Orrick Bolsters London Office with Two Laterals

joshua — Wed, 22 Sep 2010 17:26:11 +0000

Orrick, Herrington & Sutcliffe LLP announced Wednesday that Kolvin Stone, formerly of Fox Williams, and Nick Thornton, formerly of Fried Frank, have joined Orrick’s London office as partners in its corporate and tax practices, respectively.

“London’s importance to global markets makes it a critical business centre for our clients,” Anne O’Neill, , partner-in-charge of Orrick’s London Office, said in a press release. “A well-recognized strategic objective of the firm has been to grow in London with highly experienced lawyers who can serve all of our clients needs.”

Formerly the leader of Fox Williams’ ebusiness group, Stone’s practice focuses on intellectual property and technology law, data protection and privacy law and online regulation. He regularly negotiates, drafts and advises on complex commercial agreements and technology transactions, such as technology licenses, supply, distribution and development agreements, terms of business, SaaS agreements and outsourcing agreements.

Thornton focuses his practice on the tax aspects of many types of transactions, particularly those with an international dimension, including mergers and acquisitions, asset purchase and sales, corporate restructurings, securities offerings, financings and fund formations. He has worked on sophisticated tax issues for a number of large international clients including Virgin Media, Goldman Sachs, Morgan Stanley, Investec, Rhodia, Thomson Reuters and Edison Mission Energy.
Orrick, Herrington & Sutcliffe LLP is a global law firm with more than 1,100 lawyers in North America, Europe and Asia.

Morning Roundup

joshua — Thu, 01 Jul 2010 11:33:52 +0000

Good morning everyone! Today is Thursday, July 1st. Here’s a quick recap of yesterday’s stories.

Supreme Court nominee Elena Kagan ended her Senate testimony…

Lindquist & Vennum attorney John A. Chanin was named president-elect of The Faculty of Federal Advocates…

Greenberg Traurig’s Reorganization and Bankruptcy Practice Group received the Global M&A Network’s 2010 Turnaround Atlas Award…

Four McKool Smith principals have been named to to the Lawdragon 500 Leading Lawyers in America list…

Nixon Peabody announced partner Kari K. Harris joined the firms’ private equity fund practice in its Boston office…

Fried Frank introduced a partner in its Asset Management Group…

Winston & Strawn adds partner to Trusts And Estates Group…

Clark Hill PLC, through lateral hires absorbed the Chicago based IP firm Trexler, Bushnell, Giangiorgi, Blackstone & Marr…

Dechert LLP Adds Three Partners to Washington, D.C. Office

joshua — Mon, 21 Jun 2010 15:20:02 +0000

Dechert, llp

Dechert LLP announced today it has added three partners to its Washington, D.C. office.

Thomas P. Vartanian, David L. Ansell, and Robert H. Ledig were all partners at Fried, Frank, Harris, Shriver & Jacobson LLP.

For over 25 years, Vartanian, Ansell, and Ledig have worked together counseling many different types of organizations, including commercial and investment banks, holding companies, housing-oriented government-sponsored enterprises (GSEs), and financial trade associations.

According to today’s press release at PR Newswire, Dechert chairman Barton J. Winokur was quoted as saying: “We are pleased to welcome such a dynamic team to the firm. Tom, David, and Bob enjoy high-industry profiles, and together they form one of the premier bank regulatory practices in the United States. This is a critical time for the industry as it faces a sea change in the regulatory environment. Their shared talents and experience will further enhance our brand as a leader in the representation of financial services firms.”

Vartanian advises clients in the financial services industry in a wide variety of matters, including mergers and acquisitions and private equity transactions; reorganizations, recapitalizations, and acquisitions of distressed banks.

Ansell advises financial services companies on the formation and execution of complex corporate transactions, particularly with regard to bank regulatory matters.

Ledig advises financial institutions on corporate, regulatory and enforcement, and litigation issues.

With offices throughout the United States, Europe, and Asia, Dechert LLP is an international law firm focused on financial services and asset management, corporate and securities, tax law, business restructuring and reorganization, complex litigation and international arbitration, life sciences, labor and employment, intellectual property, and finance and real estate.

Morning Roundup

joshua — Fri, 18 Jun 2010 11:16:37 +0000

Good morning everyone! Today is Friday, June 18th. Here’s a quick recap of yesterday’s stories.

President Obama selected Fried Frank partner Michael R. Bromwich to lead the administration’s efforts in targeting regulation corruption in the regulation and oversight of offshore oil drilling…

Jones Day laid off staff at its Dallas and Los Angeles offices…

CA based Mesa Law Group began offering clients a new Loan Modification & Finance Preparation Program…

Fried Frank Partner To Lead Obama’s Oil Drilling Overhaul

joshua — Thu, 17 Jun 2010 17:22:29 +0000

Fried Frank partner Michael R. Bromwich was selected this week by President Obama to lead the administration’s efforts in targeting corruption in the regulation and oversight of offshore oil drilling in the wake of the BP Gulf of Mexico oil spill.

According to a firm press release, Bromwich will lead the effort to reform the Minerals Management Service, the agency of the U.S. Department of Interior charged with the management of the nation’s natural gas, oil and other mineral resources. He will be responsible for developing plans for a new oversight structure for environment and safety regulation.

Bromwich has been with Fried Frank since 1999. While at the firm, he has led a number of investigations involving a variety of organizations ranging from federal agencies to local police departments in Houston and Washington. Prior to joining Fried Frank, Bromwich served as inspector general for the Department of Justice from 1994 to 1999.

Morning Roundup

joshua — Fri, 04 Jun 2010 12:03:33 +0000

Good morning everyone! Today is Friday, June 4th. Here’s a quick look back at yesterday’s stories.

BP brought on WilmerHale to fight the myriad of congressional investigations the company is facing…

The American Association for Justice named Ronald F. Motley the recipient of its prestigious Lifetime Achievement Award…

Stroock & Stroock & Lavan welcomed the addition of Irah H. Donner to their Intellectual Property Practice Group…

Jun He Law Offices Opened a second U.S. Office in Palo Alto…

Karen P. Hewitt, the U.S. Attorney for the Southern District of California, headed to Jones Day…

Baker & McKenzie appointed Eduardo Leite, a partner from its Sao Paolo office, as its global chairman…

Fried Frank Adds Two Partners to London Office…

Fried Frank Adds Two Partners to London Office

joshua — Thu, 03 Jun 2010 12:54:19 +0000

Today, Fried, Frank, Harris, Shriver & Jacobson LLP announced that Nick Cherryman and James Kitching are joining the Firm’s litigation practice as partners, and will be based in the London office.

Nick Cherryman specializes in international arbitration and large multi-jurisdictional and international commercial disputes, with extensive experience in handling fraud and related matters. In addition, Mr. Cherryman retains his rights of audience in the Higher English Courts and has represented clients in the Court of Appeal and the House of Lords (now the Supreme Court) and in the courts of other common law countries.

James Kitching, a barrister, has extensive experience in white-collar crime, enforcement, and special investigations work. He also handles litigation and international arbitration proceedings, mainly in relation to high-value commercial contract and fraud disputes.

According to today’s press release at PR Newswire, partner and chair of the Firm’s litigation department William G. McGuinness was quoted as saying: “Investigatory and commercial dispute resolution matters are becoming increasingly cross-border, and London is an important center for these matters. Nick and James’ experience and expertise greatly enhance our ability to serve our clients’ needs in these areas as we further extend our established international arbitration, investigations and litigation practices in the UK and EU.”

Fried, Frank, Harris, Shriver & Jacobson LLP is a leading international law firm with more than 500 attorneys in offices in New York, Washington, D.C., London, Paris, Frankfurt, Hong Kong and Shanghai. The firm’s attorneys regularly represent many of the world’s leading corporations and financial institutions.

Steve Epstein Joins Fried, Frank, Harris, Shriver & Jacobson LLP as Parnter in M&A Group

joshua — Mon, 22 Feb 2010 16:02:18 +0000

Steve Epstein has joined Fried, Frank, Harris, Shriver & Jacobson LLP as a partner in the mergers and acquisitions practice group resident in New York, the firm announced today.

“We are delighted to welcome Steve to the Firm. He joins our highly respected M&A team known for high-profile mergers, acquisitions and private equity transactions both on the national and international stage. Steve’s transactional experience complements our team while also broadening our presence in healthcare, consumer products and infrastructure sectors,” said Robert C. Schwenkel, chair of Fried Frank’s New York corporate department and head of the Firm’s M&A and private equity practices.

“Steve is an outstanding attorney who will complement and expand our leading M&A and private equity practice groups,” said Valerie Ford Jacob, Fried Frank’s chairperson.

He has represented public and private companies, investment banking firms and financial sponsors in connection with mergers, acquisitions, divestitures, takeover preparedness, and corporate governance matters. Mr. Epstein received his JD from Fordham University School of Law, and his BS from Cornell University. At Fordham University School of Law, he was a Stein Scholar and member of Fordham International Law Journal.

He joins Fried, Frank, Harris, Shriver from O’Melveny & Myers LLP, where he was a partner in the mergers & acquisitions group.

Fried Frank has more than 500 attorneys based in principal financial centers in the US, Europe and Asia. The firm represents many of the world’s leading corporations and financial institutions. The firm’s attorneys work together across practice areas and jurisdictions and regularly advise clients in all major regions including the US, the Middle East, Europe, Asia and Latin America.

Morning Roundup

joshua — Mon, 08 Feb 2010 12:30:27 +0000

Good morning everyone! Today is Monday, February 8, and it’s time to look back at Friday’s news…

Clyde & Co opened its third US office in New Jersey…

January was another bad month for the legal sector, with another 1,100 jobs lost…

Bernstein Liebhard abandoned its endeavor for Florida state pension work after admitting to inaccuracies in its application to the state committee…

Barnes & Thornburg added 5 laterals in Atlanta…

Mintz Levin’s consulting affiliate has a new senior vice president…

Several major firms in DC took a half day due to weather…

The Glover Park Group has a new managing director of its government affairs practice…

Cooley Godward picked up a team of energy lawyers from Alston & Bird…

Another partner has moved to Latham from White & Case…

Pomerantz is investigating Koss Corp. on behalf of its investors…

Fried Frank has new office space in DC…

Manatt named a new partner in LA…

and President Obama nominated two more US Attorneys…

More Bonuses

joshua — Thu, 10 Dec 2009 17:43:22 +0000

Two more firms have announced bonus schedules. Fried Frank’s bonuses for New York associates look and feel a lot like the Sullivan & Cromwell bonuses, which were of course a very slight modification to the Cravat scale most firms have been using. Boies Schiller & Flexner, however, is paying bonuses well above the market rate.

Fried Frank’s New York associates will receive bonuses up to $35,000. These bonuses are based on a number of discretionary factors. The $35k is the same cap that Sullivan & Cromwell and the firms that have followed it are using, but firms on the Sullivan scale base bonuses strictly on seniority. No word yet on what associates outside the big apple can expect.

Ahhh but the bonuses at Boies… Let’s just say that the top bonus for second year associates at Boies is $70k. That should give some idea of the difference in scale between Boise bonuses and the market rate. Boies is using a formula based on revenue generated for the firm and base salary. Bonuses are equal to 30% of the revenue generated, minus base salary. Bill more hours, make more money. Bring in more clients, make more money. As if that’s not enough, Boies is also paying above market rate base salaries, with first years starting at $174k. Oh, and did we mention – first year associates who started after September of this year are getting a $5k bonus.

Firms Tighten up in Partnership Promotions

joshua — Mon, 30 Nov 2009 23:21:46 +0000

In a year that has been notable for salary cuts, layoffs, associate deferrals and smaller bonuses, it should come as no surprise that promotions to partner are also down across the board. Profits are down, and firms are reluctant to increase the number of slices of the shrinking pie. Although not every firm has announced this years promotions yet, plenty have.

Here’s a sampling of prominent firms that have announced a smaller partnership class this year compared to last year: Cleary Gottlieb, Latham & Watkins, Ropes & Gray, Proskauer Rose, Wachtell Lipton Rosen & Katz, Skadden Arps, Davis Polk, Paul Hastings, Gibson Dunn, Mayer Brown, Kirkland & Ellis. The list of firms bucking the trend is much smaller and those that have promoted larger classes have promoted only marginally more partners while some of the firms with smaller classes have cut promotions by as much as half. Fried Frank for example promoted seven new partners, up from five the previous year, but did so in a year where its total number of attorneys shrank by 26%.

The Week in Law Firm Layoffs

Erik Even — Sat, 04 Apr 2009 18:28:06 +0000

This week in law firm layoffs:

DLA Piper: 8 lawyers

Alston & Bird: 14 lawyers, 38 staff

Lovells: 18 lawyers, 61 staff

Honigman: 15 lawyers, 30 staff

Hogan & Hartson: 93 staff

Mayer Brown: 45 lawyers, 90 staff

Locke Lord: undisclosed lawyers & staff

Allen Matkins: 6 lawyers, 4 staff

Robinson & Cole: 11 lawyers, 19 staff

Reed Smith: 26 lawyers, 74 staff

Stroock: undisclosed lawyers & staff

Manatt Phelps: 17 lawyers, 8 staff

Fried Frank: 41 lawyers, 58 staff

Total: 199 lawyers, 474 staff

Last week: 455 lawyers, 219 staff.

The week before: 91 lawyers, 177 staff

The week before the week before: 574 lawyers, 812 staff

Fried Frank Lays Off 99, Defers Class

Erik Even — Mon, 30 Mar 2009 16:14:44 +0000

Fried Frank laid off 99 employees, lawyers and staff, today.

Effective today, we are implementing changes that will result in an overall reduction of 41 associates and 58 administrative staff from our U.S. workforce. This decision is one we worked very hard to avoid. But we must respond responsibly to the current environment…

The start date of our fall 2009 class has been deferred to January 28, 2010. All incoming associates whose start date is deferred until January 2010 will receive a $10,000 stipend. We are also offering an opportunity for members of the fall 2009 class to defer until the fall 2010. We are encouraging those associates to develop their legal skills by pursuing a public interest or government position or by volunteering with a legal, political or community-based organization. Those who elect this deferral will receive a stipend of $70,000 plus health benefits. Finally, both of our summer associate programs in New York and Washington DC will now conform to a ten, not twelve-week schedule.

Fried, Frank, Harris, Shriver & Jacobson LLP is an international law firm with offices in New York City, Washington DC, London, Paris, Frankfurt, Hong Kong and Shanghai. The firm had more than 600 attorneys worldwide.

Fried Frank Profits Down Double-Digits

Erik Even — Wed, 18 Mar 2009 16:45:11 +0000

New York’s Fried Frank saw gross revenue fall more than 9% in 2008 to $488 million. Profits per equity partner fell double digits, 23% to $1.23 million.

Revenue per lawyer fell 12%, to $858,000.