Profile: Slaughter and May

Slaughter and May - Who's Who Legal '70'

What is the Who's Who Legal '70'?

Offices in London, Brussels, Paris and Hong Kong are complemented by close working relationships with leading firms in major jurisdictions. Slaughter and May claims to represent more companies listed on the London Stock Exchange than any other firm and, with 40 highly rated individuals selected in 13 of the following chapters, the firm offers clients not only quality but also an excellent depth of expertise.

CORPORATE POWERHOUSE
Slaughter and May’s corporate department is internationally recognised and recent highlights include advising BHP Billiton on its approach to Rio Tinto, counselling Punch Taverns on its proposal for a possible merger with Mitchells & Butlers, and GE Healthcare Life Sciences on the recommended cash acquisition of Whatman for approximately £363 million. All three partners listed in the mergers & acquisitions chapter feature in our breakdown of the practice area’s leading lights – a feat only matched by US powerhouse Simpson Thacher & Bartlett LLP. Nigel Boardman is the UK’s most highly nominated practitioner in this area and is “hugely respected and incredibly clever”, according to sources. William Underhill is another heavy hitter. Stephen Cooke heads the firm’s mergers and acquisitions group and was endorsed by a number of the practice area’s leading names. Recent highlights include advising British Airways on a possible consortium offer for Spanish airline Iberia. All three also feature prominently in the corporate governance chapter where they are joined by four partners, two from London and two from Hong Kong. In London, Simon Robinson is an “authority on UK corporate governance” and his international experience was also noted. The equally impressive Tim Clark joins him in the chapter. Richard Thornhill is an “invaluable source of reliable counsel” in Hong Kong while Benita Yu provides clients with “in-depth knowledge of the Far East markets”.

Corporate tax is yet another strong point at the firm with four partners in the chapter. The “top-class” Steve Edge emerges as the practice area’s most nominated individual and his cross-border work between the UK and US was noted on a number of occasions. He works for a wide variety of clients, including investment banks, whom he represents in their structured finance businesses. “Impressive” Sara Luder joins him on the following pages as does Graham Airs. Among other things, both come recommended for their knowledge of the tax aspects of mergers and acquisitions. Tony Beare heads the firm’s tax practice and is “one of the best for structured finance”, according to sources.

James Cripps is included in the private funds chapter. He advised Spencer House Capital Management LLP on the launch of US$200 million closed-ended fund, Tau Capital, which was listed on AIM in May 2007.

Edward Keeble adds another dimension to the firm’s practice, advising on the environmental aspects of mergers and acquisitions. He also comes recommended for his knowledge of regulatory and policy matters.

BANKING, FINANCE AND INTERNATIONAL CAPITAL MARKETS
The firm also boasts a significant contingent in our capital markets chapter. Sanjev Warna-kula-suriya is one of London’s leading lights and recent highlights include advising Telenor ASA on the placing of 76.5 million shares in Malaysian telecoms company Digi.com. David Frank’s work for both managers and issuers was noted while Marc Hutchinson – a new addition this year – is rated as one of the “best people there”. Hutchinson heads the firm’s debt capital markets practice and over the past couple of years has advised on securitisations by Abbey National and Bradford & Bingley, as well as debt financing programmes for Brittania Building Society, 3i and Unilever to name but a few. Benita Yu features in the Hong Kong section and last year acted as Hong Kong counsel to Goldman Sachs, Morgan Stanley and Deutsche Bank on the global offering of Alibaba.com.

Andrew Balfour heads the firm’s financing practice and his performance in our banking research sees him listed among the practice area’s stars. Balfour is advising BHP Billiton on the all share inter-conditional offers for Rio Tinto Limited and Rio Tinto plc and the related committed bank financing facility. Ruth Fox also appears prominently in the chapter and is rated as “quite excellent, one of the best in the city”. Christopher Saunders completes the trio and was also recommended for his project finance knowledge. He is accompanied in this edition by Steven Galbraith, who has worked on key projects such as the Oman LNG project, the Qalhat LNG projects and the Baobab offshore oil field development. Paul Stacey’s project finance expertise is also noted and he appears in the oil and gas chapter on the following pages. The firm is also recognised for the strength of its aviation finance practice with both Peter Jolliffe and Tom Kinnersley recommended as “key people” with “amazing reputations in the industry”.

COMPETITION AND COMMERCIAL LITIGATION
The firm’s competition practice once again is seen in a good light with seven partners consistently endorsed to researchers. John Boyce is “one of the best” according to rivals who commented on his “quick, intelligent” style. Among other matters last year Boyce advised Akzo Nobel in relation to its offer for ICI. Fellow Brussels partner Claire Jeffs has “a good grasp of the markets” according to one respondent to our survey while another noted, “she’s an effective lawyer’s lawyer and a pleasure to deal with”. In London Philippe Chappatte is “highly regarded”. Malcolm Nicholson leads the competition group and is “very, very experienced and energetic”; his work is said to be “never less than first rate”. Michael Rowe also features prominently in our findings and worked as part of an integrated team with Sullivan & Cromwell advising Standard Chartered PLC on the acquisition of American Express Bank Ltd from American Express Company for approximately US$860 million. William Sibree and Bertrand Louveaux were also consistently recommended and form part of what is an exceptionally well-regarded team.

The firm’s dispute resolution credentials are clear for all to see in the commercial litigation chapter. Nick Archer has coordinated litigation in India, Egypt, Turkey, France, Germany, Russia and the UAE and is said to be “exemplary”. The “world-class law firm” can also call on the services of Nick Gray; one source noted that, “working with him is always an extremely pleasurable experience”.

A trio of partners in the real estate chapter wrap up the firm’s contingent in this year’s edition. “Excellent” Graham White acted for House of Fraser in the sale of the Barkers store in Kensington to Whole Foods, which created Europe’s largest organic supermarket and is joined in the chapter by the “clear thinking and meticulous” David Beales. Dermot Rice was also consistently nominated and last year he advised Kaupthing Bank with regards to its joint venture with the CPC Group to acquire a site in Beverly Hills for redevelopment.