The Legal 500

Within EU and competition , tier 6

Reed Smith is best known for its work in the shipping and trade, and media sectors, and has growing experience in the pharmaceuticals sector. Recent work includes advising Channel 4 on its ad sales joint venture with UKTV. Marjorie Holmes is ‘exceptional in her level of professional commitment to the field of competition law, as well as her depth and breadth of knowledge’. Edward Miller and Katherine Holmes are also recommended.

Within Financial services, tier 4

Reed Smith’s Jacqui Hatfield has ‘detailed knowledge of financial regulation practice’. The team advised Federated Investors on the position under Basel, the EU and the UK in terms of the functional equivalency of money market funds. The team also includes ‘technically good’ litigation partner Robert Falkner, who arrived from Morgan Lewis; contentious expert Charles Hewetson, who ‘knows what clients want’; and Simon Hart, also a key contentious contact.

Within Flotations: small and mid-cap, tier 5

Reed Smith has a strong issuer practice led by James Wilkinson.

Within M&A: lower mid-market, £50m-£250m, Reed Smith is a second tier firm,

Reed Smith advised one of the largest forex brokers in the world in 2010, acting for Forex Capital Markets on its strategic acquisition of ODL Group for $75m. The 20-partner corporate team is praised for its ‘strong subject-matter expertise’, with Philip Taylor attracting high praise. James Wilkinson and David Boutcher are also recommended.

Within Fraud: civil , Reed Smith is a third tier firm,

Reed Smith represented a financial services client regarding alleged fraudulent trading by a member of staff, requiring detailed knowledge of commodities trading, interim injunctions and asset tracing, employment, and regulatory issues. Belinda Paisley, Charles Hewetson and Peter Hardy are all highly recommended.

Within Banking litigation: investment and retail, tier 4

Reed Smith is acting for hedge fund BC Capital Group in credit crunch litigation against Société Générale and Lyxor Asset Management, relating to the management of three structured investment vehicles. Charles Hewetson, Richard Spafford and David Warne offer a wealth of experience in the field.

Within Commercial litigation, Reed Smith is a third tier firm,

Reed Smith’s contentious practice includes shipping, energy trade and commodities groups, as well as contentious real estate, construction, employment and competition teams. The firm acted for a hedge fund in relation to the management of three structured investment vehicles. Commercial disputes head Richard Spafford is known in the financial services area, and has experience in professional negligence and insurance. David Warne, Charles Hewetson and Belinda Paisley are highly rated.

Within Defamation and privacy, tier 4

Reed Smith is noted for its ‘high-quality and reliable advice’. It acted for a Hollywood actor in a defamation claim regarding an unauthorised biography.

Within International arbitration, tier 4

Able to offer ‘a great deal of expertise’, Reed Smith is noted for its experience in arbitrations under investment treaties and the Energy Charter Treaty. The firm is also focused on developing its Bermuda Form work; and the lateral hire of three partners from Pinsent Masons LLP, including its international arbitration head Gordon Bell, added further depth to the infrastructure and JV disputes practice, particularly in construction and energy. Gautam Bhattacharyya ‘gets involved in the details’, and joint international arbitration chair Belinda Paisley is also recommended.

Within Public international law, tier 4

Reed Smith has ‘a strong understanding of the issues at stake’. The team successfully defended the Tanzanian state-owned electricity company, TANESCO, in a substantial ICC arbitration brought by a Houston-based company. Practice head Belinda Paisley and Gautam Bhattacharyya are key contacts.

Within Asset finance and leasing, tier 4

For the time being focusing on its core ship finance practice, following the departure of aviation partners Rex Rosales and Siva Subramaniam to Watson, Farley & Williams LLP, Reed Smith has been busy on refinancings and new purchase agreements for its shipowner client base. It has also picked up an increasing amount of work for funds investing in the industry, and attracted a first-time instruction from Icon Capital on its sale and leaseback of four tankers for $167m. Philip Rymer heads the team.

Within Bank lending: investment grade debt and syndicated loans , tier 5

Leon Stephenson at Reed Smith is noted for his emerging markets experience.

Within Commodities: derivatives, Reed Smith is a third tier firm,

‘A regulatory shop that understands trading intimately’, SNR Denton handles transactional, regulatory and disputes instructions, mainly in energy and metals. Brett Hillis moved to Reed Smith, and Robert Finney to Dewey & LeBoeuf LLP, but Chris Borg remains, and acts for clients including Shell and Total. Rosali Pretorius advises Citigroup on clearing matters.

Within Commodities: physicals, Reed Smith is a first tier firm,

‘One of the best-qualified firms dealing with commodities’, Reed Smith’s advice is ‘prompt, detailed and easy to understand’, and its ‘commitment to service and support is unparalleled’. The firm has 30 lawyers focusing solely on commodities, and advises trading companies including Noble and Glencore Grain. Recent highlights include the defence of a GAFTA arbitration for Bunge. The team of ‘true professionals’ includes Richard Swinburn, who is ‘hardworking, with good initiative and a dynamic personality’; Diane Galloway, who is ‘thorough, concise and honest’; Kyri Evagora (‘pretty much the best in commodity trading’); Paul Dillon; Suzanne Bainbridge; and Sian Fellows, who returned from an in-house role at Shell.

Within Corporate restructuring and insolvency,

Also of note are: Nick Angel at Milbank, Tweed, Hadley & McCloy LLP; and Tony Horspool at Ropes & Gray LLP. Brown Rudnick LLP, Dewey & LeBoeuf LLP, Reed Smith and Shearman & Sterling LLP are among the firms continuing to make a concerted push into the area.

Within Debt capital markets, tier 5

Reed Smith is new to the ranking this year. ‘Top-rated capital markets lawyer’ Scott Cameron joined from Gide Loyrette Nouel LLP, and the team has ‘great breadth and depth of resources’. Dinosaur Securities is a regular client.

Within Derivatives and structured products, tier 4

Leon Stephenson at Reed Smith is part of a versatile team including US securities partner Scott Cameron, who joined from Gide Loyrette Nouel LLP; litigator Robert Falkner; and investment funds specialist Dale Gabbert. Associate Alan Meehan is ‘one of the best lawyers in this space’.

Within Emerging markets, Reed Smith is a third tier firm,

Reed Smith is acting for Canaccord Genuity, Miraband Securities, GMP Securities and Dundee Securities as placing agents on the $700m fundraising for African Minerals Limited, with Leon Stephenson leading in London. Gautam Bhattacharyya and Roy Montague-Jones co-head the firm’s India practice.

Within Investment funds Investment funds

Within Overview,

Instructed by a swathe of FTSE 100 corporates, Slaughter and May is the premier borrower-side practice in the market, and scores highly for bank lending and restructuring matters, where it continues to excel in government-led work. Freshfields Bruckhaus Deringer LLP is also very accomplished on the borrower side, in investment grade lending and acquisition finance, where it acts for an oustanding roster of private equity sponsors, and also in more esoteric areas such as derivatives, where it moves to the top tier this year. High-ranking practices outside the Magic Circle include Hogan Lovells International LLP, which moves up in the asset finance ranking having hired Simon Gwynne and Robert Fugard from Linklaters LLP, and also has a strong showing across restructuring, investment funds, and Islamic and trade finance; Ashurst LLP, across acquisition finance, investment funds, securitisation and derivatives; Norton Rose LLP, in asset finance, Islamic finance and emerging markets; SJ Berwin LLP, in investment funds; and Simmons & Simmons, in hedge funds and derivatives. As well as having strong asset finance practices, Clyde & Co LLP, Holman Fenwick Willan LLP and Reed Smith all feature in the top tier of the commodities (physicals) ranking.

Within Trade finance, Reed Smith is a first tier firm,

‘The depth of industry experience is first class’ at Reed Smith, which also rises in the ranking. Robert Parson is ‘consistently good and business focused’; Richard Swinburn is ‘outstanding, and a valuable partner when dealing with sensitive problems’; and the ‘highly responsive and to-the-point’ Suzanne Bainbridge and head of trade and commodities Kyri Evagora also stand out in the team, which was boosted by the arrival of Brett Hillis from SNR Denton. The firm is popular with trading houses including Glencore, and also acts for Barclays and other banks. Highlight deals included a complex $300m letter of credit facility.

Within Employee share schemes, tier 5

The ‘highly effective’ Jeremy Glover recently joined Reed Smith from Stephenson Harwood.

Within Employment, tier 6

Reed Smith is notable for its international capabilities, and acts for clients such as the BBC, BT and RBS. The team has recently assisted with global bonus payment issues, and dismissals relating to industrial action, and advised Channel 4 on an outsourcing project. Robin Jeffcott is ‘outstanding in his technical ability, as well as providing a commercial view’.

Within Pensions, tier 4

Reed Smith ‘impresses with a tangible personal commitment which transcends normal commercial commitment’. Clients include the Civil Aviation Authority Pension Scheme, Pearl Group Staff Pension Scheme, and Skanska. Practice head Simon Hartley is ‘pragmatic, with an incisive mind’; and Justine Senior is ‘an exceptionally gifted lawyer’. Keith Wallace is also highly regarded. Nicholas Donnithorne left the firm in 2011 to join Babbé in Guernsey.

Within Insurance litigation: for policyholders , Reed Smith is a first tier firm,

Reed Smith’s insurance recovery group, headed by Peter Hardy, works closely with the energy, trade and commodities group, which has generated new instructions on coverage disputes. The team is acting for a client in a multimillion-dollar arbitration relating to D&O policy claims. Clients include AT&T, Credit Agricole, and Anadarko Petroleum. Mark Connoley is recommended.

Within Insurance: corporate and regulatory Leading individuals

Within Product liability: claimant Leading individuals

Within Product liability: defendant, Reed Smith is a third tier firm,

Reed Smith has ‘good knowledge of the industry, and provides good value for money’. Key contact Paul Llewellyn is ‘commercially realistic’, and gives ‘good, clear and timely advice’. It represents an impressive range of blue-chip clients from the automobile, medical devices and pharmaceuticals industries.

Within Professional negligence, tier 4

Reed Smith’s ‘strong’ team advises on high-value claims across a range of professions, including cases involving accountancy firms, banks, barristers, law firms, construction professionals and insurance brokers. Key clients include AMEC, Atkins, QBE and Willis. Practice head Nick Speed is ‘brilliant’, and Mark Connoley is also recommended.

Within Oil and gas, tier 7

Reed Smith is strong in contentious construction matters, and is acting for Cameron International Corporation in arbitration proceedings against Global Supplies (UAE).

Within Power (including electricity, nuclear and renewables) , tier 5

Reed Smith has a good record for litigation as well as transactional work, and is representing waste-to-energy player AE&E Lentjes UK in several construction and engineering disputes.

Within Commercial property, tier 4

Reed Smith provides ‘top-level service’. It advised key client Telereal Trillium on managing the Royal Mail portfolio, investigating and certifying titles to some 180 properties, restructuring the ownership and negotiating all loan and security documents with Barclays. Duncan Edwards is ‘exacting and highly qualified’; and Andrew Jenkinson and Lawrence Radley are also recommended.

Within Construction, Reed Smith is a third tier firm,

Reed Smith ‘has excellent knowledge in the construction sector’ and ‘pulls out all the stops’ for clients. The team has been busy advising on wind power projects, and also recently advised contractor Cameron International in arbitration proceedings relating to contracts to design and supply equipment to an Indian oil refinery. Peter Cassidy ‘quickly exposes weaknesses in an opponent’s case’, and Lynne Freeman is also recommended.

Within Property finance, Reed Smith is a third tier firm,

‘Responsive, knowledgeable, and enjoyable to work with’, Reed Smith mainly advises lenders, such as Santander and Lloyds TSB. Paul Johnston is ‘a natural negotiator – a classic velvet glove on an iron fist when needed’. Charles Bezzant is ‘hugely knowledgeable’, and Terry Green is also recommended.

Within Property litigation, tier 4

Reed Smith’s ‘commercially savvy’ team is ‘pleasingly competitive with fees’. The practice is increasingly handling big-ticket disputes, and recently advised Commercial Estates Group on a CVA settlement. Practice head Andrew Jenkinson ‘combines a litigator’s eye with the commercial acumen of a transactional lawyer’.

Within Brand management, Reed Smith is a second tier firm,

Michael Skrein leads Reed Smith’s ‘knowledgeable, supportive, client-focused, creative and hardworking’ practice. Clients include advertising agencies McCann Erickson and Bartle Bogle Hegarty; world-renowned brands Sapient, Nike and Sara Lee; and media owners Danjaq and Eon Productions. Philip Taylor and Gregor Pryor are advising Channel 4. ‘Dynamic, conscientious’ litigator Emma Lenthall ‘leads with authority’.

Within Intellectual property, tier 4

Carolyn Pepper and Emma Lenthall jointly head the ‘first-class’ IP team at Reed Smith. Litigator Michael Skrein, who advises on trade mark infringement and passing off, is a ‘piercingly perceptive and powerful negotiator who can completely outclass the other side’s legal team’. Louise Berg is ‘a pleasure to work with and a talent to watch’. Copyright expert Stephen Edwards was nominated by the UK government and selected by the Council of Europe to participate in the preparation of a treaty for the protection of the rights of broadcasting organisations.

Within IT and telecoms, tier 5

Reed Smith wins plaudits for its ‘high standards of expertise and service’. Clients commend Cynthia O’Donoghue’s ‘international view, detailed knowledge and commercial outlook’. Highlights included advising BNY Mellon on a second-generation IT outsourcing agreement, including offshore arrangements in Argentina and India.

Within Media and entertainment, Reed Smith is a first tier firm,

Reed Smith provides ‘an extremely high quality of service’. The ‘phenomenal’ Michael Maxtone-Smith, who is valued for his ‘intelligence and problem-solving skills’, acts on film financing deals for clients such as Coutts & Co and Silver Reel. Broadcasting specialist and practice head Stephen Edwards continues to advise the BBC on reforms to copyright law, and also advised Channel Four on a complex £1bn advertising and sponsorship sales agreement. The team also acted for The Walt Disney Company, and advised the UK Film Council on selling its film-collecting subsidiary. Also recommended are Gregor Pryor, a well-regarded digital content lawyer; and Richard Philipps, who specialises in film and television acquisition and production financing. Neil Gillard, who handles film and television finance and production, recently moved to Wiggin LLP.

Within Pharmaceuticals and biotechnology, Reed Smith is a second tier firm,

Reed Smith’s team acts for the likes of ALK-Abello, Norgine, Orexo and Cellzome. Giles Beale and ‘outstanding deal negotiator’ Nicola Maguire worked with US partners advising Proximagen on its recommended cash offer for Minster Pharmaceuticals and associated grant of a licence to Upsher-Smith Laboratories. The ‘commercially realistic’ Paul Llewellyn provides ‘good, clear, timely advice’, and practice head John Wilkinson is a ‘truly outstanding lawyer’.

Within Rail, tier 6

Reed Smith’s appointment to Angel Trains’ panel brought in numerous instructions, including negotiating contracts for maintenance and overhaul. Other highlights included advising ECML on the Wakefield Westgate and King’s Cross station redevelopment projects. Jon Pike and Philip Taylor lead the practice.

Within Shipping , Reed Smith is a second tier firm,

Reed Smith’s ‘outstanding service’, ‘impressive business acumen/industry knowledge’ and ‘quick, reactive and knowledgeable responses’ prove ‘very good value for money’. Nick Shaw is ‘quick, commercial and proactive’; Richard Gunn is ‘user friendly and responsive’; Charles Weller is a ‘conscientious and responsive communicator, and extremely well connected globally’; Alex Andrews’ ‘vast knowledge of the law makes him an adviser with substance’; and Andrew Taylor’s ‘years of experience and excellent grasp of the industry mean he looks at matters from a different level’. The group advised Gulf Rocks in relation to the MSC Chitra collision.