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International Edition

Davis Polk launches UK law team with Freshfields heavyweight

Wall Street leader Davis Polk & Wardwell has launched an English law practice in the City with the hire of Freshfields Bruckhaus Deringer corporate veteran Simon Witty. Witty is set to join the US law firm's London arm in April this year. It is not yet known whether he is bringing any associates with him.
4 minute read

International Edition

A&O continues global growth with launch of new base in Istanbul

Allen & Overy (A&O) has become the latest law firm to announce a launch in Istanbul, with London banking partner Charles Lindsay set to relocate to Turkey to head up the new office. The office will focus on providing English law advice on project finance, capital markets, general lending and M&A, with A&O stating that its motivation for the move was to capitalise on the Turkish Government's privatisation programme and its demand for new infrastructure.
2 minute read

International Edition

Proskauer opens new base in Beijing with transfer of Hong Kong team

Proskauer Rose has opened an office in Beijing, three years after the firm first declared its intention to launch in the city, reports The Am Law Daily. The US firm announced last Thursday (10 November) that its thirteenth office, in Beijing's Chaoyang District, had officially opened for business.
2 minute read

International Edition

Herbert Smith set for further capital markets exit as Hong Kong partner heads for US firm

Herbert Smith is set to lose another Hong Kong capital markets partner with the resignation of Carolyn Sng for Fried Frank Harris 
Shriver & Jacobson. Sng, who is UK-qualified, will join the US firm's local office in the coming months, with a start date yet to be announced. Her move comes on the heels of the exits of four other capital markets partners from the firm's global practice, all US-qualified, which has taken partner count in the US securities team from nine partners to five 
since July.
2 minute read

International Edition

Sidley adds capital markets partner in Shanghai with Bakers hire

Sidley Austin has recruited a capital markets partner for its Shanghai office with a hire from Baker & McKenzie, reports The Asian Lawyer. Anthony Jacobsen, a Hong Kong-qualified partner in Bakers' commercial and securities group in Shanghai, principally advises Chinese companies on Hong Kong law aspects of overseas debt and equity offerings.
2 minute read

International Edition

Herbert Smith names new capital markets leadership after partner exits to A&O

Herbert Smith is set to lose two US-qualified capital markets partners to Allen & Overy (A&O), with the forthcoming departure of Jim Wickenden and Adam Wells marking the latest in a string of partner exits from the City firm. Wickenden - the global head of Herbert Smith's capital markets practice - and Wells both handed in their notice in recent weeks and are set to join A&O after serving a notice period.
3 minute read

International Edition

A&O up front on Manchester United's $1bn Singapore initial public offering

Allen & Overy (A&O) is set for a headline role on Manchester United's planned $1bn (£640m) Singapore initial public offering (IPO). The magic circle firm is understood to be advising longstanding client Man Utd on the listing, with global corporate co-head and relationship partner Andrew Ballheimer leading the firm's team.
3 minute read

International Edition

Linklaters and Davis Polk advise as Rio Tinto taps bond markets for $2bn

Linklaters and Davis Polk & Wardwell have taken lead roles on a $2bn (£1.3bn) notes offering by Rio Tinto, which saw the mining giant take advantage of current low yields on corporate bonds to reduce its debt costs. Linklaters advised Rio – a longstanding client of the firm – on the offering, which is split into three parts, comprising $500m (£324m) of notes due in 2016, $1.15bn (£746m) due in 2021 and $350m (£227m) due in 2040.
2 minute read

International Edition

Bonds and eurobonds – a resolution will be needed to restart capital markets

It isn't often that the creation of a new financial instrument makes front-page news. But then it isn't often – even post-banking crisis – that global markets and public finances become so strained that discussion of the euro's break-up becomes a mainstream topic. Amid a summer of financial turmoil, with Greece teetering on the edge of a messy default and European leaders so far failing to come up with a credible rescue plan to deal with struggling national economies and banks, European Commission president Jose Manuel Barroso made headlines by suggesting that a common eurozone bond was the best option on the table. It's not a new refrain. While the idea for a euro-area bond, which would allow weaker countries access to cheaper borrowing, is nothing new, until recently such a move seemed a near impossibility because of the lack of European Union institutions to implement it and entrenched opposition in stronger economies to bailing out profligate southern member states.
6 minute read

International Edition

Simmons adds partner to US capital markets team with CC hire

Simmons & Simmons has moved to rebuild its US capital markets capacity in London with the hire of a lawyer from Clifford Chance's (CC's) Hong Kong office. The top 15 UK law firm has hired Julian Perlmutter as a corporate partner in its City equity capital markets team. Perlmutter, who is currently a foreign counsel with CC in Hong Kong, is expected to join Simmons on 14 November when he will become the second US-qualified partner in Simmons' ECM team alongside Charles Hawes.
2 minute read

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