JD Journal » Merrill Lynch

Jones Day Adds Two Partners in London Office

rebneely — Mon, 03 Oct 2011 08:00:24 +0000

The international law firm of Jones Day recently announced that Paul Exley and John Ahern have joined the London office as partners.

Exley joins the firm’s Energy Practice, and Ahern joins the Financial Institutions Litigation & Regulation Practice.

Prior to joining Jones Day, Exley practiced at Simmons and Simmons. A corporate lawyer concentrating on cross border mergers and acquisitions in the energy sector, he has significant experience in oil and gas deals; that experience includes advising on several international refinery transactions.

Exley was quoted as saying in a press release at the firm’s website: “Energy is a global business and I am very excited to join a Firm with a truly global energy practice. Jones Day has top quality transactional energy lawyers in the U.S., Europe, Asia, the Middle East, Russia, and Latin America, making it the ideal platform for me. I am very much looking forward to complementing the existing team and being integral to the continued growth and success of the energy practice.”

John Ahern joins the firm from Addleshaw Goodard. He possesses niche experience in the financial services industry in the U.K., the Middle East, and Asia. Prior to joining Jones Day, Ahern worked in-house at Merrill Lynch for eight years, as well, he practiced at Clifford Chance. A leader in financial services regulation in the U.K., Ahern provides counsel on a number of regulatory issues across the sector, focusing on securities sales and trading, clearing and settlement, global custody, and bank prudential regulation.

Ahern was quoted as saying: “I am excited to be joining Jones Day particularly during this period of growth in London. The practice is a real force with banking, regulatory, and litigation lawyers working together to service financial institutions.”

London Partner-in-Charge John Phillips was quoted as saying: “These are significant hires in important practices and are a continuation in our concerted growth strategy in London. There will be more to come as we build further on our resources in the London market.”

Phillips has significant mergers and acquisitions experience which includes public bids, private trade sales, and private equity investments, with a particular emphasis on cross-border transactions. In addition, he has advised on a number of initial public offerings, rights issues, placings, and other equity issues. As Partner-in-Charge of the London office, he the Firm’s U.K. M&A practice.

A global law firm, Jones Day is ranked among the world’s best and most integrated law firms, as well as being ranked consistnetly among the best in client service. The firm serves as principal outside counsel to, or provides significant legal representation for, over half of the Fortune Global 500 companies.

Founded in Cleveland, Ohio in 1893, Jones Day is the eighth largest law firm in the world according to revenue, and employs over 2,500 attorneys, including more than 400 lawyers in Europe and 200 lawyers in Asia.

Morning Roundup

joshua — Thu, 19 Aug 2010 12:04:52 +0000

Good morning everyone! Today is Thursday, August 19th. Here’s a quick look back at yesterday’s stories.

Former Merrill Lynch counsel John Bevilacqua joined Fulbright…

Johnsrun and Knuesel, LLC, based in Winona, Minnesota, took over court-appointed counsel in Houston County…

Dallas-based law firm Goldfarb Branham LLP launched an investigation into Marlin Equity Partners buyout of Phoenix Technologies…

Howrey’s Jerrold Ganzfried assumed Chairmanship of ABA’s Council of Apellate Lawyers…

Former Merrill Lynch Counsel Joins Fulbright

joshua — Wed, 18 Aug 2010 17:44:50 +0000

Fulbright & Jaworski has acquired John Bevilacqua, formerly first vice president and senior counsel at Merrill Lynch, for its global litigation practice in New York.

A securities litigator, Bevilacqua worked at Merrill Lynch for eight years. In the role he worked with senior management to analyze exposure and to set reserves. Prior to Merrill Lynch, Bevilacqua served 10 years at Salomon Smith Barney as director and associated general counsel and was an enforcement attorney for the SEC.

“Fulbright’s strong disputes practice is well-regarded internationally and known for its work with those in the financial services and energy industries,” Bevilacqua said in a press release. “My experience aligned nicely with Fulbright’s practice making it a nice fit all around.

Founded in 1919, Fulbright & Jaworski L.L.P. is a full-service international law firm with nearly 900 lawyers in 16 locations.

Morning Roundup

sara — Wed, 31 Mar 2010 10:43:13 +0000

Good morning everyone! Today is Wednesday, March 31, and here’s a look back at yesterday’s news…

The illustrious history of the recess appointment is explained after President Obama makes 15 of them…

The law offices of Derek K. Yu go paperless in March…

Lovells plans to close it’s Chicago office later in the year…

McKool Smith wins more than100 top verdicts for the second year in a row….

Willie Shepherd, formerly of Kamlet Shepherd and Reichert LLP, lied about diversity statistics at his firm and receives a $127.50 fine…

Ogletree Deakins opens a new office in Minneapolis….

Carter G. Phillips of Sidley Austin is named one of the decade’s most influential lawyers by The National Law Journal…

Gross revenue and profits per partner drop at Foley & Lardner…

A former Arnold & Porter partner who pleaded guilty to tax evasion and conspiracy charges is sentenced…

Three former and current female employees of Bank of America and it’s Merrill Lynch division sue the bank claiming the company engages in gender biased and discriminatory practices …

Pope Benedict XVI invokes the Foreign Sovereign Immunity Act…

Bank of America Accused of Being Bank of Men

julie — Tue, 30 Mar 2010 23:58:50 +0000

Bank of America and its Merrill Lynch division are being sued by three current and former employees alleging unfair treatment a variety of areas. Judy Calibuso, Julie Moss and Dianne Goedtel, represented by law firms Outten & Golden and Lieff Cabraser Heimann & Bernstein LLP, are trying to attain class-action status on their suit.

According to an article on Nasdaq.com the lawsuit alleges,”The violations are systemic, based upon company-wide policies and practices, and the result of unchecked gender bias that pervades defendants’ corporate culture. They are not isolated or exceptional incidents, but rather the regular and predictable result of defendants’ company-wide policies and practices.”

Bank of America seems surprised by the lawsuit as it is frequently referred to as a great place for women to work because of the policies it has in place. A company spokesperson was quoted saying, “Bank of America has a strong track record of hiring and developing associates and has been recognized for its success in creating and supporting a diverse and inclusive work force. We do not tolerate discrimination, and discrimination of the type alleged in the complaint violates the bank’s policies and values.”

Former Merrill Lynch Director Joins Fulbright and Jaworski

joshua — Mon, 22 Mar 2010 18:31:10 +0000

Glen Eichelberger, an attorney and former director at Merrill Lynch, has joined Fulbright and Jaworski’s trust and estates practice. Eichelberger formerly served as head of Merrill Lynch’s Family Office Services, a division of its Private Banking and Investment Group.

According to a firm press release, Eichelberger’s practice is dedicated exclusively on wealth transfer planning with a focus on complex estate and philanthropic planning for clients of substantial wealth.

“Glen is an ideal fit given his unique experience with the financial industry and his extensive understanding of trust and estates issues that families and individuals face,” said Jack Allender, the head of Fulbright’s tax department.

Founded in 1919, Fulbright & Jaworski has nearly 1,000 lawyers in 16 locations throughout the world.

Foley & Lardner Hires 3 More Lawyers

Erik Even — Wed, 27 May 2009 23:15:33 +0000

Foley & Lardner, which announced three hires earlier this month, has brought on three more lawyers in New York.

Barry Mandel joins from Merrill Lynch as a partner in securities enforcement & litigation and white-collar defense. He was co-head of global litigation, employment, and regulatory affairs at the global financial services firm.

Howard Margulis and Ellen Wolchek, both from Troutman Sanders, join Foley’s finance practice and energy industry team. Margulis joins as partner, and Wolchek as senior counsel.

Foley & Lardner LLP is an international general practice law firm started in 1842 in Milwaukee, Wisconsin. It employs 1,000 attorneys, and is the 24th largest firm in the United States.

BofA, Merrill Lynch In-House Counsel Must Reapply for Jobs

Erik Even — Mon, 20 Apr 2009 17:17:56 +0000

The merged legal department of Bank of America and Merrill Lynch, with around 700 lawyers, is looking at pending layoffs.

The bank’s lawyers are being required to reapply for their own jobs, which is invariably a precursor to cuts.

Bank of America, based in Charlotte, North Carolina is the largest financial services company in the world, largest bank by assets, and second largest commercial bank by deposits. It serves clients in more than 150 countries and has a relationship with 99 percent of the US Fortune 500 companies and 83 percent of the Fortune Global 500.

The bank plunged in market value after its purchase of Merrill Lynch.

Gonzalez Saggio Expands into Phoenix, LA

Erik Even — Mon, 06 Apr 2009 22:48:10 +0000

Milwaukee’s Gonzalez Saggio, a minority-owned law firm, is opening offices in Phoenix, Arizona and Los Angeles, California.

Gonzalez Saggio represents AIG, Merrill Lynch, JP Morgan Chase and Morgan Stanley. Yikes. No wonder they’re expanding.

The Phoenix office will be run by Charles Hamilton Houston III, who previously headed his own Phoenix law firm.

The California office will bring nine attorneys from LA’s Atkins & Evans. Their clients include Coca-Cola, Bank of America, Ford and Honda North America.

Gonzalez Saggio & Harlan LLP has 90 attorneys nationwide and nine other offices, including Chicago, Las Vegas and New York.

In-House Attorneys Hit With Layoffs

Erik Even — Mon, 23 Mar 2009 17:04:49 +0000

Firms including Hyatt, Cigna, General Electric, Motorola, Merrill Lynch and Yahoo! have cut the number of attorneys in their law departments during the past year, as corporations slash budgets in the economic meltdown.

This year the Association of Corporate Counsel’s membership has dropped for the first time since 2003, declining by almost 6% to 23,396 this month after average 10% annual increases.

While employing in-house counsel can save money compared to the cost of an outside firm, at some point legal work dries up enough to justify laying off a corporations lawyers.

Fairfield, Connecticut’s General Electric has cut lawyers across the country. Chicago’s Motorola has laid off attorneys in the Midwest.

In December, Yahoo! dismissed attorneys as part of larger layoffs.

Hyatt said it has “eliminated a number of positions” in the law department as part of a corporate restructuring that “re-engineered its methods of supporting its internal clients.” Um, what?

Time Warner has cut its legal department from 40 to 30 by dismissing some lawyers and not filling vacancies when others left.

Revenues Down at Shearman & Sterling

Erik Even — Thu, 19 Feb 2009 16:35:59 +0000

Shearman & Sterling reports a 4.9% drop in revenues to $876 million for 2008, and a 9.6% fall in profits per equity partner, to $1.665 million. Revenue per lawyer remained above the million-dollar mark.

The declines posted by Shearman were similar to those reported by Skadden, Arps, Slate, Meagher & Flom, and pretty average when compared to major New York firms that have posted their results.

Shearman is more global than some of its peers, with 45 percent of its lawyers overseas, but less diversified in its practice mix, with only 22 percent of its revenues deriving from disputes.

One bright spot is the Abu Dhabi office, which is doubling in size. Another is Latin American project finance. A third bright spot is the arbitration group whose top clients are among the world’s most litigious.

Shearman represented Merrill Lynch in its acquisition by Bank of America; and the firm is helping BofA to unwind its derivative contracts with Lehman Brothers.