Most Highly Regarded Firms: Banking 2011

• January 2011

• Banking

Our research selects 440 individuals deemed world class by the clients and peers we canvassed, taken from 65 countries worldwide. Several firms stand out in terms of the number of partners selected for inclusion and the breadth of the expertise they can command.

Allen & Overy has the largest contingent in the research for this edition. The firm advises over 800 corporate and financial institutions and participants in the financial markets, and sees 16 nominees selected for inclusion across ten countries, a depth and breadth of expertise unmatched by any other firm and an increase of four from last year’s edition. Michael Duncan chairs the global banking practice and is “straight out of the top drawer”. He leads a quartet from London, including Stephen Kensell, joint managing partner of the firm’s global banking practice, who represented the mandated lead arrangers on Enel’s €35 billion financing for Endesa. The firm is particularly strong in Europe with Neil Weiand, senior partner of A&O Germany and one of the most highly regarded individuals in the country, and Peter Bienenstock, “the go-to guy in Belgium”. The inclusion of Mikuláš Touška in Prague is complemented by two further nominees in Moscow, where Anthony Humphrey is joined for the first time in this edition by Irina Mashlenko. The firm is also very strong in Asia. Thomas Brown appears for the first time in Hong Kong as a result of his expertise across a range of types of finance, while Daniel Ginting in Indonesia has represented clients such as Merrill Lynch and the Singapore branch of Credit Suisse. The Dubai office features the “market-leading” Bimal Desai, as well as the highly rated Christian Saunders, and the inclusion of John Richards alongside Kayal Sachi confirms A&O as one of the leading banking firms in Singapore. Grant Fuzi completes the firm’s contingent; based in Sydney, he was commended for his financing work across the Asia Pacific region.

Clifford Chance is internationally recognised as a “pre-eminent banking firm” which earned glowing reviews from corporates, all types of banks, regulators and governments. It earns 13 nominations from nine of its offices in this edition. Four are based in London, headed by the “spectacular” Mark Campbell. Global head of finance, he is a “big name in the capital” and was repeatedly recommended for his corporate restructuring work in particular. Malcolm Sweeting offers “invaluable advice” to clients on restructuring matters, and Alan Inglis is similarly in demand for his insolvency and corporate reconstruction expertise. Yves Herinckx was commended to researchers as “the leading banking expert in Belgium”, and partners are also selected from the firm’s offices in Ukraine, Russia and Germany. The banking practice is also strong in the Far East, with Huw Jenkins a “top-tier practitioner” in Hong Kong, Peter Kilner rated as a “guru” for financing and corporate reconstructions in Japan and Andrew Gambarini selected for the first time in Singapore. With two of the most highly rated practitioners in Dubai in the form of Peter Avery and Robin Abraham, Clifford Chance is “phenomenally strong in this sector across the board”.

Linklaters is another magic circle firm to gain international recognition, with ten nominees selected from six countries. Three are based in London, including Nick Syson, co-head of the leveraged finance practice and “one of the sharpest legal minds around”. David Ereira’s restructuring practice is much in demand by clients, and its quality recognised by his peers internationally. The firm has two of the most highly nominated individuals in Germany. Berthold Kusserow is of counsel to the firm and “extremely knowledgeable”, while Eva Reudelhuber is “very well versed in all types of financing”. Further market leading nominees are selected in Russia and Belgium. Paul Kruger moved to the New York office in 2010, bringing with him a wealth of Asia Pacific experience from his time in the Tokyo office, from where we also list the “excellent” Akihiro Wani. Trevor Clark, co-head of the Asia Pacific banking and restructuring group, is a “one of the outstanding experts in Hong Kong”.

Cleary Gottlieb Steen & Hamilton LLP expands its listing to nine partners in this edition, and the firm’s profile is demonstrated by the presence of two of its partners among the most highly regarded individuals in the research overall. The firm has been particularly active in recent months, including acting as counsel to Morgan Stanley and sales agent to the US Department of the Treasury, in connection with the Treasury’s announced plan to sell approximately 7.7 billion shares of Citigroup common stock. Robert Tortoriello in New York is feted for his “encyclopaedic legal knowledge” in relation to bank acquisitions and regulation. Paul Glotzer is commended for his “practical, well thought out and hugely effective” representation of client before banking regulators. In DC, John Murphy is a “marquee name”, recognised for his “world class” work in relation to financial sector restructurings and troubled institutions. The firm underlines its status in this field with three further first class practitioners in Europe. Scott Senecal is among the most highly regarded experts in Russia, while Roberto Casati and Christof von Dryander are similarly well known in Italy and Germany respectively.

Sullivan & Cromwell LLP moves up the table in this year’s research, its recognised contingent growing by a third to nine nominees. Our sources “find it difficult to find sufficient superlatives to describe” Rodgin Cohen. Senior chair of the firm since the beginning of 2010, he and his team advised Fannie Mae, Lehman Brothers Holdings, Wachovia, Barclays, AIG, JPMorgan Chase and Goldman Sachs Group in a single five-week period in the height of the financial crisis, and he is “a living legend” in the eyes of his fellow banking lawyers. Also from the NY office, Michael Wiseman is widely recognised for his advice to AIG in connection with the $85 billion emergency financing plan with the Federal Reserve, as well as Goldman Sachs in its conversion to a bank holding company. William Kroener, counsel to the DC office, is “incredibly learned in this field” as a former general counsel of the Federal Deposit Insurance Corporation (FDIC) from 1995 to early 2006, and Stanley Farrar, formerly based in the Tokyo office, is among the leading experts in California.

White & Case can boast a client list that includes more than 90 of the world’s largest banks, and lawyers from the firm appear seven times in this edition. Eric Berg heads the global practice group in this area and has represented clients such as Deutsche Bank, Citigroup and Morgan Stanley. Ernest Patrikis is a former general counsel and chief operating officer of Federal Reserve Bank of New York and “known throughout town” as a leading expert. Alberto Sepúlveda Cosío is one of the most highly regarded banking lawyers in Mexico, and the firm’s profile also extends to Europe with a further listing in Hungary.

The six nominees from Freshfields Bruckhaus Deringer LLP are spread across three countries. Sean Pierce in London is co-head of the global financial services sector group and “much in demand” for restructurings and treasury transaction work, while Yorck Jetter leads the German practice and “stands out for all types of debt financing work”.

Shearman & Sterling LLP grows its contingent to five in this edition, and has a strong transatlantic presence. Anthony Ward in London is well known for work such as advising Barclays Capital, Merrill Lynch and Morgan Stanley in relation to the approx. €9 billion financing for the acquisition of Innovene from BP by Ineos Group Limited. In New York, William Hirschberg has been providing “hugely impressive” counsel to Bank of America in relation to Lehman Brothers. Bradley Sabel and Reade Ryan are “clearly top-tier practitioners”, while Antonia Stolper earns recognition for her corporate finance transactional work in emerging markets, particularly in Latin America.

Several other firms stood out in their own jurisdictions. The five US based nominees from Davis Polk & Wardwell LLP marks it out as one of the leading banking firms in the country. Randall D Guynn heads the financial institutions group and is one of the most highly regarded individuals in the research worldwide. His reputation is “positively stratospheric” as a result of his advice to the Federal Reserve Bank of New York on the US Treasury’s US$250 billion bank capital purchase programme. James A Florack is a corporate finance expert who has represented clients such as JPMorgan Chase, Morgan Stanley, Bank of America, Credit Suisse and Goldman Sachs. In DC, John L Douglas heads the firm’s banking regulatory practice and brings “invaluable experience to the table” as a former general counsel of the FDIC. He is praised for his advice to various boards of directors, as well as Citigroup in respect to FDIC matters, and to various parties relating to the failure of Washington Mutual.

The number of recommendations received by the four featured partners from Cravath Swaine & Moore LLP place the firm among the leaders worldwide. Robbins Kiessling chairs the financial institution practice leads the practice and has represented clients such as JPMorgan Chase, Citigroup and Bank of America. “He is the best I have ever worked with, bar none,” in the words of one admiring commentator. The “exemplary practice” of James Cooper is much in demand from corporate borrowers negotiating financing arrangements with financial institutions. James Vardell and the “incredible” Allen Parker, who has represented clients such as JPMorgan Chase and Citicorp, complete the quartet.

Simpson Thacher & Bartlett LLP appears four times with a presence in both London and New York. In the former, Euan Gorrie is a “big name” who has recently represented Blackstone and First Reserve in a variety of financings. In New York, Lee Meyerson heads the financial institutions practice and is “an all-time great” in the eyes of the Bar.

Lenz & Staehelin performs well in Switzerland, with four individuals selected and Patrick Hünerwadel and Shelby du Pasquier each strongly recommended by respondents across Europe. However, the Swiss research – indeed the European research overall, is led by René Bösch in Zurich. Head of Homburger’s financial services practice and former co-chair of the securities law committee of the International Bar Association, he is “second to none” in the eyes of our sources.

Slaughter and May is “one of the most prestigious firms in the UK”, and stands out for banking and finance practice, not least for its recent work on behalf of HM Treasury. Andrew Balfour is head of the financing practice and “absolutely first class” in the eyes of our sources. Stephen Powell and Ruth Fox, head of the financial regulation group, are equally well regarded.

Blake Cassels & Graydon LLP is the leading firm in Canada with five nominees selected. The “superb” Michael Harquail leads the financial services group and advises financial institutions and corporates in a range of matters including lending and debt restructuring, in industries such as energy, mining and telecoms. Martin Fingerhut is “second to none” in the eyes of our sources, while John Teolis is praised for his work relating to financial institution regulation. Norm Saibil is managing partner of the Montreal office and “one of the finest banking lawyers in Quebec”.

The “exemplary” Greg Hammond is one of six nominees from Mallesons Stephen Jaques in this edition, well known for his bank regulation and corporate and debt reconstruction practice. Five nominees appear from across Australia, with Richard Mazzochi giving the firm a further presence in Hong Kong.

Marval O’Farrell & Mairal in Argentina is one of the leading banking firms in Latin America. Roberto Silva in particular is “the first port of call” for many international financial institutions, and appears among the leading lawyers in the field worldwide. Alongside him, Santiago Carregal in particular is well known as former vice president and assistant general counsel of JPMorgan’s Buenos Aires branch.

Recent Moves Within the Banking Community

Back to top