Herbert Smith and Lovells win roles on RenCap panel
Russian investment bank Renaissance Capital (RenCap) has finished its first formal legal panel review, with Herbert Smith and Lovells the only UK-based firms to win roles. The bank has appointed six law firms to its global roster with US-based Cleary Gottlieb Steen & Hamilton, White & Case, Skadden Arps Slate Meagher & Flom and Latham & Watkins also selected.
August 04, 2009 at 04:32 AM
2 minute read
Russian investment bank Renaissance Capital (RenCap) has finished its first formal legal panel review, with Herbert Smith and Lovells the only UK-based firms to win roles.
The bank has appointed six law firms to its global roster with US-based Cleary Gottlieb Steen & Hamilton, White & Case, Skadden Arps Slate Meagher & Flom and Latham & Watkins also selected.
RenCap made the appointments last month after a six-month review. It is thought that at least a dozen law firms pitched to be on the panel for the bank, which has significant global operations including a stronghold on the African continent.
The review was led from London, where global general counsel Steven Wootton is based. RenCap has not set a time limit on the length of the panel appointments
Herbert Smith – which last year hired RenCap's former executive director and co-head of legal and compliance, Evgeny Zelensky – has regularly advised the bank on corporate, finance and regulatory issues in recent years, as well as on its international expansion. Lovells, meanwhile, has gained increasing traction with the client over the last two years, with several instructions on the private equity side.
However, the bank has also frequently instructed top 10 City firm Simmons & Simmons – which recruited RenCap's former general counsel Konstantin Orlov to lead its Russia law group in September 2007 – as well as magic circle firms Allen & Overy, Clifford Chance and Linklaters.
RenCap was founded in 1995 and focuses on emerging markets including sub-Saharan Africa.
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