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Shearman & Sterling LLP

535 MISSION STREET, 25TH FLOOR, SAN FRANCISCO, CA 94105-2997, USA
Tel:
Work +1 415 616 1100
Fax:
Fax +1 415 616 1199
Web:
www.shearman.com

United States

Real estate
Real estate - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP has expertise across the full spectrum of transactional work, advising on a range of joint ventures, acquisitions and disposals. The team also represents landlord and tenants in leasing transactions, particularly headquarters office leases and ground leases. Malcolm Montgomery heads the practice from New York, where he advises on domestic and cross-border investment matters and the full range of financing transactions on the lender side. Lisa Brill heads the firm’s hospitality, leisure and gaming sector group, and has notable expertise in mezzanine loans, construction loans and hotel financings; other key partners include corporate and M&A specialist Kris Ferranti, and John Opar, who regularly handles matters involving foreign investment into US real estate and has been involved in projects spanning the US, China, Europe and the Middle East. Work highlights for the team included advising SL Green Realty and affiliates of Jeff Sutton on their leasehold of a property in New York City and a simultaneous lease transaction with Nike; acting for Metropolitan Life Insurance in connection with a $325m mortgage loan to Carnegie Hall Tower II; and advising KeyBank National Association on a $300m credit facility provided to the affiliates of Independence Realty Trust.

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United States: Antitrust

Cartel
Cartel - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP bolstered its global antitrust offering in 2017 by adding a team of partners in Washington DC from Hunton Andrews Kurth LLP, comprising David Higbee, Djordje Petkoski, Ryan Shores and Todd Stenerson. Bruce Hoffman also made the move but has since been appointed acting director of the FTC’s Bureau of Competition. The firm covers a broad range of DOJ, EC and standalone EU member state investigations and follow-on litigation; recent areas of activity include interbank benchmark rates, auto parts and lithium ion batteries, among others. Petkoski and others are representing capacitors manufacturer Rubycon in an international price-fixing investigation and in related civil litigation. Higbee is the firm’s global antitrust head. Heather Kafele joined Winston & Strawn LLP.

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Civil litigation/class actions: defense
Civil litigation/class actions: defense - ranked: tier 3

Shearman & Sterling LLP

In 2017, Shearman & Sterling LLP hired David Higbee, Djordje Petkoski, Ryan Shores and Todd Stenerson; all moved to its Washington DC office from Hunton Andrews Kurth LLP. Bruce Hoffman, who also made the same move, subsequently became acting director of the FTC’s Bureau of Competition. The firm’s recent work includes financial benchmarking litigation, and New York-based partners Richard Schwed and Adam Hakki are defending Bank of America in an interest rate swaps class action. The firm is also acting for the same client and Nomura Securities in a class action in which it is alleged that they were part of a conspiracy among 15 defendant financial institutions to manipulate the ISDAfix benchmark rate. The firm has also handled cases involving Libor and TIBOR, Treasury securities and SSA bonds. Petkoski and New York-based Michael Mitchell defended GS Yuasa against lawsuits arising from a DOJ investigation into an alleged lithium ion batteries price-fixing conspiracy. Higbee is the firm’s global antitrust head. John Cove in San Francisco is recommended.

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Merger control
Merger control - ranked: tier 4

Shearman & Sterling LLP

In 2017, Shearman & Sterling LLP expanded its footprint in Washington DC by hiring David Higbee, Djordje Petkoski, Ryan Shores and Todd Stenerson from Hunton Andrews Kurth LLP. Bruce Hoffman, who also made the move, subsequently became acting director of the FTC’s Bureau of Competition. Higbee, who is now the global antitrust head, ‘manages his team very efficiently and effectively’. In 2017, New York-based practitioners Jessica Delbaum and associate Aleksandra Petkovic worked with practitioners in the Brussels office to advise B/E Aerospace on the antitrust aspects of its $8.3bn acquisition of Rockwell Collins. In another highlight, Delbaum, New York-based of counsel Wayne Dale Collins and others assisted American Axle & Manufacturing with obtaining clearances in the US, Mexico, South Korea, Austria and Germany of its $3.2bn acquisition of Metaldyne Performance Group. Counsel Daniel Francis, who practises in Washington DC, is also recommended.

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United States: Dispute resolution

Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense: advice to corporates - ranked: tier 3

Shearman & Sterling LLP

Corporate investigations and white-collar criminal defense: advice to individuals - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP is best known for its representations in the financial services industry, of both individuals and banks. The practice is jointly led by Adam Hakki and Stephen Fishbein in New York, and includes deputy head Patrick Robbins in San Francisco. The group is acting for the independent directors of Wells Fargo in connection with an independent investigation into the bank’s retail sales practices. It is also assisting Citigroup with respect to US regulatory and enforcement inquiries concerning a major fraud perpetrated against the company’s Mexican unit, Banamex. Robbins is representing the former CFO of Logitech in a contested SEC enforcement action, while Fishbein and New York-based John Nathanson are representing a former health insurance specialist at the Centers for Medicare and Medicaid, in criminal and civil insider trading proceedings brought by the SEC. Washington DC’s Philip Urofsky is recommended for ‘very strong professional knowledge in the area of anti-corruption’.

Leading lawyers

Stephen Fishbein - Shearman & Sterling LLP

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Financial services litigation
Financial services litigation - ranked: tier 4

Shearman & Sterling LLP

Under the leadership of the ‘excellentAdam Hakki, Shearman & Sterling LLP has been involved in many high-profile regulatory investigations/enforcement actions and private litigation over recent years. Noted by one client as the ‘pre-eminent class action litigator in the market’, Hakki has been involved in a slew of antitrust-related matters for core client Bank of America, including as a defendant in interest rate swaps class action related to its alleged conspiracy with other banks to prevent the establishment of exchange-like trading platforms, and its role as an alleged co-conspirator in the manipulation of the forex market. Richard Schwed is also recommended and had a key role in the aforementioned matters.

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General commercial disputes
General commercial disputes - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP excels in complex financial products litigation, though its client base extends beyond the financial services sector to include US and non-US companies in the healthcare, technology and automobile industries, among others. It also has experience representing high-ranking individuals. In a recent example, Adam Hakki and Jaculin Aaron represented former CEO and director of Providence Service Corporation Warren Rustand in shareholder derivative litigation. Deputy litigation head Richard Schwed has broad experience in state and federal courts and arbitration. Above-named partners are located in New York, which is the firm’s main base. In Washington DC, the firm hired several commercial and antitrust litigation specialists including Ryan Shores from Hunton Andrews Kurth LLP. Daniel Laguardia is a key contact in San Francisco.

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International arbitration
International arbitration - ranked: tier 3

Shearman & Sterling LLP

At Shearman & Sterling LLP, New York-based team head Henry Weisburg and Christopher Ryan in Washington DC are representing the Republic of Panama in treaty claims brought by Omega Engineering and its CEO relating to the alleged expropriation of multiple infrastructure construction projects under the US-Panama BIT. Recently promoted partner Daniel Reich, who splits his time between the Paris and New York offices and Mark McNeill, who divides his time between New York and London, are representing Cairn Energy in a treaty claim against the Republic of India, under the UK-India BIT. Jonathan Greenblatt, who is ‘a consummate team builder’ and ‘provides novel solutions in tough situations’, splits his time between New York and Washington DC. Recently promoted counsel Jonathan Tompkins, who is based in New York, is also noted.

Leading lawyers

Henry Weisburg - Shearman & Sterling LLP

Next generation lawyers

Daniel Reich - Shearman & Sterling LLP

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International litigation
International litigation - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP is ‘a truly international firm that is more globally integrated than some of its competitors’ and has ‘a reputation that extends far beyond the US’. The firm advises multinational corporations and financial institutions on high-profile matters including global investigations, Foreign Corrupt Practices Act (FCPA) matters and US-based litigation involving non-US entities. In New York, global head of litigation Adam Hakki, who advised underwriters of the Alibaba IPO on a securities class action, and deputy head of the litigation department Richard Schwed are recommended. Schwed regularly handles cross-border matters relating to contested mergers and acquisitions, antitrust cases and financial services litigation. With Henry Weisburg and Washington DC-based Christopher Ryan, he sought enforcement of arbitral awards to secure a $50bn payment from the Russian Federation after its expropriation of investments in the former Yukos Oil Company. Paula Anderson is a rising star.

Next generation lawyers

Paula Anderson - Shearman & Sterling LLP

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M&A litigation: defense
M&A litigation: defense - ranked: tier 2

Shearman & Sterling LLP

The mergers and acquisitions litigation practice at Shearman & Sterling LLP in New York regularly acts for corporates and investment banks in high-stakes transactions litigation. Global head of litigation Adam Hakki oversees a team with standout practitioners such as Alan Goudiss and Jaculin Aaron, who both played a key role in securing an appellate victory for Daimler AG in a dispute with Chrysler executives. Goudiss also represented Merrill Lynch in a purported class action arising from the merger of HTI - for which the bank was financial adviser - with entities owned by TDK Corporation. All claims were dismissed and the merger was completed. A highlight for Hakki and Aaron was their work for former Providence Service Corporation CEO Warren Rustand in settling breach of fiduciary duty claims. Rising star K. Mallory Brennan is now a partner.

Next generation lawyers

K. Mallory Brennan - Shearman & Sterling LLP

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Securities litigation: defense
Securities litigation: defense - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLPprovides excellent advice and is always thoughtful and commercial in its approach to problems’. Clients describe it as ‘a leading firm for IPO cases and for representing underwriters’. New York-based head of litigation Adam Hakki is ‘superb, extremely responsive and benefits from superlative judgment’. Alongside rising star Daniel Lewis, he represented Countrywide in dozens of high-profile cases relating to RMBS transactions. Joseph Frank and up-and-coming partner Agnès Dunogué recently secured victories in RMBS cases for Nomura when the New York Court of Appeals barred claims for damages, and for Barclays when an appellate decision extinguished more than $422m in securities claims brought by the Federal Home Loan Bank of Seattle. Hakki and San Francisco-based Patrick Robbins also represented underwriters of the Alibaba IPO in securities litigation alleging that offering documents were misleading. Jaculin Aaron regularly acts for underwriters and her highlights included Ho v Duoyuan Global Water, Inc.Stuart Baskin and Brian Polovoy, who advised Ruby Tuesday in a class action in Tennessee, are also highly rated.

Leading lawyers

Adam Hakki - Shearman & Sterling LLP

Next generation lawyers

Agnès Dunogué - Shearman & Sterling LLP

Daniel Lewis - Shearman & Sterling LLP

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United States: Finance

Capital markets: debt offerings
Capital markets: debt offerings - advice to issuers - ranked: tier 3

Shearman & Sterling LLP

Capital markets: debt offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

At Shearman & Sterling LLP, high-profile name Lona Nallengara arrived into the New York office from Bridgewater Associates - prior to which he was chief of staff at the SEC. Jonathan DeSantis heads a largely New York-based team that enjoys particularly strong links with underwriters but also acts for corporate issuers. Among its manager highlights, Jason Lehner advised the underwriters on Cenovus Energy’s $2.9bn senior notes offering, while ‘future star’ Merritt Johnson assisted the book-running managers with S&P Global’s $500m notes offering. In a company-side headline, Lisa Jacobs acted for American Axle & Manufacturing on a $1.2bn notes offering. Robert Evans left for the SEC, while Alan Seem joined the Palo Alto office of Jones Day.

Next generation lawyers

Merritt Johnson - Shearman & Sterling LLP

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Capital markets: equity offerings
Capital markets: equity offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: equity offerings - advice to managers - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s national practice, which is spread between New York, Washington DC, Palo Alto and San Francisco, acted on an impressive stream of IPOs over the past year - for both issuers and underwriters. In a major headline on the company side, Richard Alsop assisted Altice USA with its $2.1bn IPO. Alsop also advised Ardagh Group on its $354m IPO. The group’s work for underwriters has been equally impressive, such as Ilir Mujalovic and Harald Halbhuber advising Credit Suisse as sole book-running manager on Social Capital Hedosophia Holdings’ $600m IPO. Mujalovic also acted for the underwriters on Venator Materials’ $522.1m IPO. Other key names are Jonathan DeSantis, who heads the capital markets practice for the Americas, highly regarded younger partner Merritt Johnson, global managing partner David Beveridge and new arrival Lona Nallengara, who joined from the SEC. All named partners are based in New York. Robert Evans departed in 2017 for the SEC, while Palo Alto’s Alan Seem left for Jones Day.

Next generation lawyers

Merritt Johnson - Shearman & Sterling LLP

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Capital markets: global offerings
Capital markets: global offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: global offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

Responsive, practical and knowledgeableShearman & Sterling LLP is distinguished by its ‘very commercial lawyers’ and its ‘great ability to work seamlessly as part of a global team’. The firm houses a prolific capital markets practice that handles an impressive volume of global deals - for both managers and issuers - with its debt work standing out as particularly high-profile. New York-based Antonia Stolper heads the Latin America affinity group and played key roles in several of the firm’s recent headline deals in that region, including advising the initial purchasers and the international purchasers on the Province of Buenos Aires’ ARS$15.1bn global bond offering. Canadian work is also a sweet spot and Jason Lehner, who splits his time between New York and Toronto, advised the underwriters on Canadian Natural Resources’ $3bn investment grade debt offering - he also assisted the Province of Ontario with its $2.5bn global bond offering. On the equity side Stuart Fleischmann, who divides his time between the New York and Sao Paulo offices, assisted Brazil airline Azul with its $644.2m IPO.

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Capital markets: high-yield debt offerings
Capital markets: high-yield debt offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: high-yield debt offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s diverse group acts on a steady stream of high-yield deals - for both managers and issuers - with a broad sector focus that has recently spanned deals in the technology, infrastructure and food and beverage sectors. The department’s most prominent roles during 2017 were arguably on the manager side, with Ilir Mujalovic advising the underwriters on a $800m notes offering by Zayo Group and Zayo Capital and Jason Lehner, who splits his time between New York and Toronto, advising the underwriters on a $750m senior notes offering by Cott Holdings. Issuer highlights include Mujalovic and Merritt Johnson handling Valvoline’s $400m high-yield senior notes offering. Jonathan DeSantis, who leads the capital markets practice in the Americas, oversees a team that also includes Kyungwon Lee and Lona Nallengara, who recently joined from the SEC. Named individuals are based in New York, unless otherwise stated.

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Commercial lending
Commercial lending: advice to borrowers - ranked: tier 4

Shearman & Sterling LLP

Commercial lending: advice to lenders - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP is a key player in the market with an especially strong reputation for lender work. The firm has an impressive array of institutional clients. Recently it advised Merrill Lynch, Pierce, Fenner & Smith, Credit Suisse and Bank of America on a $6.7bn loan to McCormick to finance its acquisition of Reckitt Benckiser Group’s food division. Another highlight was representing Credit Suisse on its complex $1.3bn financing of the takeover of Lexmark International by Hyland Software, a portfolio company of Thoma Bravo. The borrower side of the practice, where partner Gus Atiyah is recommended, was also active. The firm recently advised Saba Software, a portfolio company of Vector Capital, on a $375m loan to finance its acquisition of Halogen Software. Other key borrower clients include CVS Health Corporation, Dick’s Sporting Goods, and Boston Scientific Corporation. The team is jointly led by the highly rated Maura O’Sullivan and Ronan Wicks, who recently relocated to New York from the firm’s London office. Joshua Thompson and Jason White also have good reputations.

Leading lawyers

Maura O’Sullivan - Shearman & Sterling LLP

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Financial services regulation
Financial services regulation - ranked: tier 4

Shearman & Sterling LLP

Led out of New York on the banking regulation front by the ‘excellent’ Reena Sahni and for broker-dealer matters by Russell Sacks (‘the gold-standard for broker-dealer legal support’), Shearman & Sterling LLP’s standalone financial services regulatory offering is ‘increasingly visible in the market’ on behalf of domestic and international institutions. Sahni has ‘substantial knowledge’ of the core regulatory issues impacting both domestic and foreign banks including advice on Volcker Rule compliance, resolution planning and enhanced prudential standards. She also provides the regulatory overlay on banking M&A including her recent work for Safra National Bank of New York on the acquisition of the private banking assets and deposit liabilities of the New York and Miami branch offices of Israel’s Bank Hapoalim. As part of his expansive broker-dealer expertise, Sacks has particular specialism advising investment banking boutiques including his ongoing work for PJT Partners. Jennifer Morton and Timothy Byrne are also recommended for broker-dealer and bank regulatory work, respectively. Clients include Banco do Brasil, Blackstone, Citibank and Quintus Partners.

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Project finance
Project finance: advice to lender - ranked: tier 2

Shearman & Sterling LLP

Project finance: advice to sponsor - ranked: tier 2

Shearman & Sterling LLP

From its New York office, Shearman & Sterling LLP provides ‘practical, commercial and insightful advice’ to a strong mix of lenders and sponsors on infrastructure and energy projects, both in the US and in Latin America. Cynthia Urda Kassis advised government entities on various significant road and rail projects, including acting for the US Department of Transportation on the issuance of private activity bonds and subordinated debt for the purpose of financing toll lanes between North Virginia and Washington DC. In the oil and gas sector, Kassis acted for a syndicate of 19 commercial banks on the $7.3bn financing of the Gasoducto Sur Peruano project in Peru. The other key figure in the team is Gregory Tan, who advised sponsors on numerous energy projects in Latin America: as well as assisting Carso Gasoducto Norte and its affiliates with the $535m project financing of the development of a gas pipeline running from Chihuahua to Sonora in Mexico, Tan also advised Y-GEN Eléctrica and Y-GEN II Eléctrica on the financing of the construction of two gas-fired power stations in Argentina. The practice is also present in Wash DC, where Patricia Hammes and ‘outstanding’ New York-based lawyer Robert Freedman were active for lenders to the conventional power sector.

Leading lawyers

Cynthia Urda Kassis - Shearman & Sterling LLP

Gregory Tan - Shearman & Sterling LLP

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Structured finance: derivatives and structured products
Structured finance: derivatives and structured products - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLP’s derivatives practice stands out for the breadth of its expertise, which covers a wide variety of structured transactions for clients including financial institutions and swap dealers, hedge funds, corporate end-users, and market infrastructure providers such as ICE. Donna Parisi assisted Bank of America and Wells Fargo with a structure for the retention of commodity hedges following the bankruptcy of various E&P oil and gas companies. Parisi also advised Citigroup on the implementation under Dodd-Frank of margin requirements for uncleared swaps. Azam Aziz has experience incorporating derivatives into cross-border project financing and Geoffrey Goldman handled numerous equity-linked derivative transactions in 2017.

Leading lawyers

Donna Parisi - Shearman & Sterling LLP

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United States: Industry focus

Energy transactions: conventional power
Energy: transactions: conventional power - ranked: tier 4

Shearman & Sterling LLP

In 2017 Shearman & Sterling LLP was kepy busy handling a high volume of development and finance remits in Latin America, including New York-based Gregory Tan acting for Y-GEN Eléctrica and Y-GEN II Eléctrica on the financing for the construction of two gas-fired power stations in Argentina. Domestic work included DC-based practice co-head Patricia Hammes acting for the lenders on Helix Generation’s $2.2bn acquisition of 3,950MW of generation resources. New York-based Robert Freedman jointly heads the practice.

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Energy transactions: oil and gas
Energy transactions: oil and gas - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s New York-based team excels in international project finance, and in one highlight Cynthia Urda Kassis acted for a syndicate of 19 commercial banks on the financing of the Gasoducto Sur Peruano project in Peru. The team also undertakes corporate and capital markets work for the likes of Petrobras. Gregory Tan and Robert Freedman are additional contacts.

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Energy: renewable/alternative
Energy: renewable/alternative - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s New York-based team regularly advises on the financing of cross-border projects; Gregory Tan acted for the sponsors on the $235m financing of the development, construction and operation of two solar photovoltaic projects in Mexico. The other name to note is Robert Freedman, who acted for the lead placement agents on various capital markets financings, both in the US and abroad.

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United States: Investment fund formation and management

Alternative/hedge funds
Alternative/hedge funds - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLPprovides an excellent level of service - all the lawyers are knowledgeable, responsive and practical in their advice’. Sean Finley has ‘an advantage over other outside counsel as he has both law firm and in-house experience’; he advised TRG Management on launching a hedge fund investing in Argentinian assets. Of counsel Paul Schreiber advises Shenkman Capital Management on regulatory matters. Nathan Greene has manager M&A expertise. The firm has hired Buddy Donohue as of counsel, whose ‘strength is his depth of experience and the perspective he provides as a former general counsel of major fund companies, and as director of the Division of Investment Management at the SEC’, as well as Jay Baris, formerly head of Morrison & Foerster LLP’s investment management team. The New York-based team also acts for Juniper Investment Company and Maverick Capital Management.

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Mutual/registered/ exchange-traded funds
Mutual/registered/exchange-traded funds - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP provides an ‘exceptional overall level of service - the team is of the highest quality; its knowledge, preparation and guidance is second to none’. The team advises managers and independent boards, and liquid alternative funds are a strong suit in particular. ‘Trusted adviser and pleasure-to-work-withNathan Greene continues to act for the independent trustees of Blackstone Alternative Funds, which manages $4.3bn, some of which is in a fund sub-advised by hedge fund managers. Of counsel Paul Schreiber advised Miller/Howard Funds on a $50m shelf offering for Miller/Howard High Equity Income Fund, circumventing the SEC’s bar on closed-ended registered investment companies from selling fresh shares at a discount to the net asset value. The firm has handled a number of strategic-level matters concerning managers, with Greene advising SkyBridge Capital and its funds on the funds and regulatory change-of-control aspects of the company’s sale to HNA Capital in the wake of founder Anthony Scaramucci’s appointment to a role in the Trump administration. Other clients include SEC-registered fund-of-hedge funds Ironwood Capital Management and Perella Weinberg Partners. The team, which is based in New York, was bolstered in January 2018 through the addition of Jay Baris from Morrison & Foerster LLP - he is ‘leading the industry on the most challenging and innovative issues, including cryptocurrency’.

Leading lawyers

Jay Baris - Shearman & Sterling LLP

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Private equity funds (including venture capital)
Private equity funds (including venture capital) - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLPprovides an excellent overall level of service and sound advice on a variety of issues’ in the private equity space, with particular strengths in emerging markets and hard assets. Laura Friedrich is ‘extremely knowledgeable of the market, including terms requested by potential investors’; she advised on the formation of GTIS Brazil Real Estate Fund III, which raised $680m, and assisted TRG Management with forming a fund investing in Argentina. Away from Latin America, she advised Horizon Capital Advisors on forming its third fund, which is targeting $150m to invest in Ukraine and its neighbors - $37.5m of which has already been committed by the Overseas Private Investment Corporation. Counsel John Reiss advised Dome Equities on forming its first multi-asset real estate fund, which targets multifamily residential real estate. Other clients include the International Finance Corporation, Altamar Capital Partners and sovereign wealth funds such as Mubadala, which the team advises on its limited partner commitments. The team is located in New York.

Next generation lawyers

John Reiss - Shearman & Sterling LLP

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United States: Labor and employment

Employee benefits, executive compensation and retirement plans: transactional
Employee benefits, executive compensation and retirement plans: transactional - ranked: tier 2

Shearman & Sterling LLP

The lawyers at Shearman & Sterling LLP are ‘conscientious, caring and genuinely concerned’ and clients ‘get great technical, tactical and strategic deal-related advice’. In recent matters, Doreen Lilienfeld advised GE on its merger with Baker Hughes, and the ‘enormously hard-workingJohn Cannon III - whom clients describe as ‘both a reliable stalwart and a star’ - represented numerous management teams and executives, such as Pandora’s CEO, Roger Lynch. Counsel Gillian Moldowan recently joined the firm from Cadwalader, Wickersham & Taft LLP. Wells Fargo and State Street appointed a group led by Linda Rappaport to act as independent counsel to their board of directors. Counsel George Spera is also a key contact. All attorneys named are based in New York.

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP does not have the size of team of some of its competitors but nevertheless maintains a significant market share of marquee domestic and cross-border deals. In 2017, it advised CVS on its $69bn acquisition of Aetna, an industry transforming transaction for the healthcare sector. Demonstrating its expertise in cross-border deals, it also advised Swiss pharmaceuticals company Novartis on its $3.9bn acquisition of Advanced Accelerator Applications, the Nasdaq-listed French cancer specialist company. Moreover, it continued to represent General Electric in its $32bn acquisition of Baker Hughes, which was combined with GE Oil & Gas to create a new public company listed on the NYSE. The firm also continues to impress in complex spin-offs and carve-out transactions. Other notable clients include Altice USA, Canadian Pension Plan Investment Board, Dow, ExxonMobil, Fairfax Financial Holdings, Nokia, Temasek and WebMD Health. Head of the global M&A group George Casey is an outstanding practitioner in large-cap cross-border and domestic deals, and in headline carve-outs and spin-offs. Scott Petepiece, the head of the firm’s New York M&A group, has a fine record in M&A, private equity buyouts and transactions involving sovereign wealth funds. Senior partner Creighton Condon led the team that advised CVS on its landmark acquisition of Aetna and continues to work on many of the firm’s marquee transactions. John Marzulli led the team working on General Electric’s acquisition of Baker Hughes. Robert Katz is another key partner, and Brien Wassner joined from Milbank, Tweed, Hadley & McCloy LLP. All named partners are based in New York.

Leading lawyers

George Casey - Shearman & Sterling LLP

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United States: Tax

Financial products
Financial products - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLP is a top choice for a range of major financial institutions, including Citigroup, Credit Suisse, Bank of America, UBS and Barclays. The firm’s standing in the financial products arena is reflected in its role as counsel to the International Swaps and Derivatives Association (ISDA). A major highlight in the past year was in the firm’s representation of the estate of Andrew J. McKelvey, the founder of Monster.com, in which Washington DC-based partners Kristen Garry and Robert Rudnick led the client to a major victory at the Tax Court in a $41.3m dispute concerning two variable prepaid forward contracts. On the capital markets side, team head Michael Shulman advised Viacom on two $650m fixed-to-floating rate junior subordinated debenture issuances. The up-and-coming Nathan Tasso was promoted to partner in January, 2018.

Leading lawyers

Michael Shulman - Shearman & Sterling LLP

Robert Rudnick - Shearman & Sterling LLP

Next generation lawyers

Nathan Tasso - Shearman & Sterling LLP

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International tax
International tax - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP is well versed in international tax planning and in advising on complex cross-border transactions and tax controversies for global corporates, financial institutions and other clients. Washington DC-based Ethan Harris and Nathan Tasso, who was promoted to partner in January 2018, advised GE on its agreement with Baker Hughes to create a world-leading oilfield technology provider. Menlo Park’s Larry Crouch assisted the Toronto-based financial holding company Fairfax with its acquisition of the Swiss insurance broker Allied World Assurance. New York-based Laurence Bambino is another name to note.

Next generation lawyers

Ethan Harris - Shearman & Sterling LLP

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US taxes: contentious
US taxes: contentious - ranked: tier 5

Shearman & Sterling LLP

Tax controversy matters handled by Shearman & Sterling LLP include tax treatment of financial products, international corporate reorganizations and cross-border financings, tax accounting methods, transfer pricings and interest computations. Kristen Garry, Robert Rudnick and Nathan Tasso, who was made partner in January 2018, successfully acted for the estate of Monster.com’s founder Andrew McKelvey in a case before the Tax Court involving the extension of two variable prepaid forward contracts, which was followed by an IRS deficiency determination. The team has also been assisting an affiliate of Susquehanna International at the Tax Court, which has potential tax liabilities of nearly $300m. Thomas Johnston is also recommended. Lawrence Hill and of counsel Richard Nessler moved to Winston & Strawn LLP in February 2017.

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US taxes: non-contentious
US taxes: non-contentious - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s six tax partners devote most of their time to advising on international M&A and private equity transactions as well as financing matters. Ethan Harris in Washington DC advised General Electric on the $32bn merger of its oil and gas business with Baker Hughes and advised on the stock-for-stock exchange acquisition of client Straight Path Communications by Verizon for $3.1bn. New York-based Michael Shulman, who leads the tax department with Menlo Park-based Laurence Crouch, advised Viacom on Metro-Goldwyn-Mayer’s offer to acquire its membership interests in EPIX. Laurence Bambino in New York assisted American Axle & Manufacturing with the $1.6bn acquisition of Metaldyne Performance Group.

Next generation lawyers

Ethan Harris - Shearman & Sterling LLP

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Further information on Shearman & Sterling LLP

Please choose from this list to view details of what we say about Shearman & Sterling LLP in other jurisdictions.

United Arab Emirates

Offices in Abu Dhabi and Dubai

Angola

Belgium

Offices in Brussels

China

Offices in Beijing and Shanghai

Germany

Offices in Frankfurt

Algeria

France

Offices in Paris

Hong Kong

Offices in Hong Kong

Indonesia

Latin America: International firms

India

Italy

Offices in Rome and Milan

Japan

Offices in Tokyo

London

Offices in London

Mozambique

Philippines

Qatar

Singapore

Offices in Singapore

South Korea

Saudi Arabia

Offices in Riyadh, Al-Khobar, and Jeddah

United States

Offices in Washington DC, New York, San Francisco, Menlo Park, and Austin

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