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  1. Equity capital markets: US capability
  2. Leading individuals

Leading individuals

‘Fantastic firm’ Cleary Gottlieb Steen & Hamilton LLP has a deep bench of US capital markets lawyers, notably Daniel Braverman, Sebastian Sperber, Pierre-Marie Boury, David Gottlieb and dual-qualified Raj Panasar. Sperber advised Luxfer Holdings on its proposed SEC-registered IPO, and represented the underwriters on the proposed NASDAQ listing of multinational TIM w.e. Panasar’s work included advising Russia’s GeoProMining on its London IPO, and bookrunners including Goldman Sachs on San Miguel Corporation’s $350m Reg S offering.

‘One of the strongest financial institution practices’, Davis Polk & Wardwell LLP is noted for ‘excellent execution’, thanks to experienced partners such as Paul Etienne Kumleben, Jeffrey Oakes and John Banes. Nigel Wilson advised banks including Goldman Sachs on the year’s largest technology IPO, the $1.4bn NASDAQ listing of Yandex. Oakes advised the lead managers on Danske Bank’s $3.8bn rights offering.

‘A standout firm for US advice’, Freshfields Bruckhaus Deringer LLP has partners who ‘deliver consistently excellent technical and commercial advice’. The ‘well-respected’ Sarah Murphy is ‘technically superb’ and recently advised Nord Gold on its $1bn IPO. She also advised Perform Group on its IPO, together with the newly promoted Doug Smith, who is ‘a “go-to” lawyer for difficult US securities law questions’.

In Jason Manketo (‘one of the best US capital markets lawyers in London’), Cecil Quillen, Patrick Sheil, Mike Bienenfeld, Tom O’Neill and Brigid Rentoul, Linklaters LLP has one of the City’s deepest US benches. Sheil advised Glencore on US aspects of its $10bn IPO; O’Neill represented bookrunners including Credit Suisse on the £1.35bn Vallares IPO; and Manketo led on a €7.5bn rights issue for Unicredit.

‘Excellent firm’ Sullivan & Cromwell LLP is ‘well placed in the market, and up to speed’, with its partners ‘directly involved and proactive in finding solutions’. John O’Connor is ‘exceptionally responsive and supportive’; and Kathryn Campbell, William Plapinger and David Rockwell are also highly recommended. The firm advised JP Morgan on Mail.ru Group’s $450m offering.

Allen & Overy LLP’s growing US team, which added Jim Wickenden from Herbert Smith LLP, is ‘very powerful in the ECM space’. Max Aaron advised Jastrzebska Spólka Weglowa on its €1.35bn Rule 144A IPO; Robert Williams advised Portugal’s Banco Espírito Santo on a debt-for-equity exchange and €350m share offering; and recently promoted partner Sachin Davé advised DS Smith on a £466m rights issue. David Broadley is ‘very capable and helpful’. Daniel Epstein has left the firm.

Shearman & Sterling LLP has ‘top partners with excellent industry knowledge’, among them Richard Price and Apostolos Gkoutzinis, who advised Greece’s Piraeus Bank on an €807m rights issue. David Dixter joined from Cleary Gottlieb Steen & Hamilton LLP, and advised UBS on the IPO of AVAST Software.

Skadden, Arps, Slate, Meagher & Flom (UK) LLP’s Richard Ely and Pranav Trivedi are highly recommended, and have advised clients such as Credit Suisse and Morgan Stanley. Recent work includes acting for the underwriters on a $650m SEC-registered offering by Russia’s Mechel OAO, and for food retailer OJSC Dixy Group on a $100m rights offering.

John Connolly leads Clifford Chance’s US securities team, which advised on US aspects of the $10bn IPO of Glencore for joint global co-ordinators including Morgan Stanley. Connolly also advised banks including HSBC on Polymetal’s $500m premium London listing.

At Herbert Smith LLP, the ‘very user-friendly’ Stephen Thierbach and rising star Ben Garcia advised JP Morgan on Klöckner & Co’s €590m rights issue. Alex Bafi’s work included US securities matters involved in the restructuring of JJB Sports. Associate Dinesh Banani is tipped for a bright future.

Latham & Watkins LLP’s Olof Clausson ‘owns the market for Scandinavian work’, and has many financial services and technology sector clients. He advised Citigroup on the $4.5bn purchase of shares in Norilsk Nickel, and underwriters on the Transmode Holdings IPO, Stockholm’s first technology IPO since 2007.

Weil, Gotshal & Manges is ‘a tremendous firm in emerging markets, with an excellent track record’. David Meredith is a ‘thoughtful, considerate adviser to issuer or underwriter’, and Rob Ferguson has ‘vast experience and detailed product knowledge’.

The highly experienced Ray Fisher and Jennifer Schneck underpin Ashurst’s ‘solid reputation for technical excellence’. They advised Lamprell plc on a $225m rights issue and its $336m offer for Maritime Industrial Services; and represented brokers including HSBC on Indian company ONGC’s $2.5bn secondary offering.

Baker & McKenzie LLP has ‘a good, useful US practice’, with Edward Bibko, Tom Philipp and Adam Farlow recommended. Strong in emerging markets, the ‘flexible and creative’ team’s recent work includes a €490m Rule 144A rights offering for Nyrstar.

DLA Piper UK LLP set up a US ECM team for EMEA deals with the hire of George Barboutis and Sarah Knight from Dewey & LeBoeuf LLP. Barboutis brings extensive experience advising banks on IPOs in emerging markets.

At Paul, Weiss, Rifkind, Wharton & Garrison LLP, Mark Bergman is ‘client friendly, with excellent technical skills’, and David Lakhdir has ‘an exceptional combination of technical understanding and commercial savvy’. Recent work includes RIB Software’s €145.1m IPO.

White & Case LLP has ‘a good command of local law and how it intersects with UK and US law’. Joshua Kiernan is ‘responsive and client focused’, and new hire Michael Immordino, from Latham & Watkins LLP, is ‘legendary in Italy and Southern Europe’. Deals included Globe Trade Centre’s $200m secondary offering in Warsaw, for bookrunner Morgan Stanley.

Cravath, Swaine & Moore LLP is ‘a very high-quality outfit’ that handles many secondary offerings and rights issues with a US element. Philip Boeckman is recommended.

Greenberg Traurig Maher LLP’s Alan Annex and Donn Beloff advised on the £900m IPO of Justice Holdings. Barbara Jones represented Deutsche Bank on Growpoint’s $220m placing in Johannesburg.

Hogan Lovells International LLP’s John Basnage and Peter Kohl have ‘a wealth of experience’. Kohl advised International Finance Corporation as shareholder on the $1.3bn IPO of Yandex.

Jones Day’s ‘responsive and friendly’ Marie Elena Angulo has ‘good market intelligence and an extensive network of contacts, and always explains positions clearly and concisely’.

Mayer Brown International LLP brought dual-qualified Bernd Bohr from New York to build its US practice in London. His recent SEC-registered work includes advising Mechel OAO on a $528m share sale.

Thomas Vita, the lynchpin of Norton Rose LLP’s up-and-coming US securities practice, ‘has been around the block’. He advised bookrunners including Deutsche Bank on Cyfrowy Polsat’s $486m offering, and Allied Gold on its London listing.

Simmons & Simmons LLP has ‘a lean, partner-led team’ with ‘good knowledge of market practice’. Charles Hawes and the ‘very experienced’ Julian Perlmutter, who joined from the Hong Kong office of Clifford Chance, are recommended. Hawes advised HSBC in relation to the proposed London listing of GDRs by Qatar’s Aamal, including a Rule 144A US offering.

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