Debevoise & Plimpton Announces its New Partner

Debevoise & Plimpton LLP, a worldwide law firm based in New York City, announced that the former New York Superintendent of Insurance, Eric R. Dinallo, will join its roster as the firm’s new partner in its Manhattan office. Dinallo handled major national issues under his term in his previous post. He was one of the men behind the settlement of claims from the Sept. 11 terrorist attacks on the World Trade Center. He was also responsible for solving the crisis in the municipal bond insurance market at the peak of the US financial crisis two years ago. In 2009, Dinallo resigned from the insurance department. As to Danillo’s role in the firm, Presiding partner Martin Frederic Evans did not specify it for the time being.

Dinallo said that Debevoise made him an offer after losing a race in September to be the state’s attorney general. “It was the only firm I spoke with. It has a unique compensation structure. Partners within a class are paid the same, so there is no eat what you kill, just a bunch of super-smart lawyers pulling on behalf of the client,” Dinallo added that he will still continue to teach at New York University’s Stern School of Business, although on a reduced schedule, while fulfilling his duties as the new partner at Debevoise.  He also revealed that he has no plans to run for office again in the near future.

Today, Debevoise has around 700 lawyers worldwide. The firm has been the partner of the American International Group Inc. in its $20.5 billion spinoff of AIA Group Ltd. in Hong Kong. The firm has also been the chosen adviser of giant companies such as Amazon.com Inc., Prudential Financial Inc. and Dell Inc.