Debevoise White-Collar, Banking Partner Moves to Gibson Dunn
Matthew Biben's move comes after earlier stops working in senior in-house roles at two big banks and as a prosecutor.
August 19, 2019 at 01:34 PM
4 minute read
Matthew Biben, a white-collar partner at Debevoise & Plimpton who co-led the firm’s banking industry group, has moved to Gibson, Dunn & Crutcher.
Gibson Dunn, which announced Biben’s move Monday, said he will continue to focus his practice on helping financial institutions with complex regulatory and litigation matters. He will also co-chair its financial institutions practice group, which is currently co-chaired by Stephanie Brooker and Arthur Long, according to the firm’s website.
Both firms have lately reported strong business. Debevoise, one of a small number of firms that still compensate partners by lockstep, last year reported a 13% increase in firm revenue from 2017 to 2018 and a 15.5% rise in profits per equity partner to $3.265 million. Gibson Dunn, for its part, racked up an 11% increase in revenue and a 3.2% increase in profits per equity partner, to $3.35 million.
“We wish Matt all the best in his future endeavors,” a Debevoise spokesman said in an email.
Biben joined Debevoise in early 2015 after having been JPMorgan Chase’s general counsel for consumer and community banking. Before that, he was the GC of e-commerce company Next Jump, worked several in-house roles at Bank of New York Mellon, and spent 12 years as a state and then federal prosecutor in New York.
In an interview, Biben said he had a history with several lawyers at Gibson Dunn. He said he has been friends with Randy Mastro, who represented JPMorgan in a roughly $600 million settlement, “for a very long time.” Biben added that he’s previously worked with Mark Kirsch, now co-partner-in-charge of Gibson Dunn’s Manhattan office, and Kirsch’s former colleagues at Clifford Chance when they all advised BNY Mellon in a major case brought by the Russian government. He said he also knows Gibson Dunn partners Mylan Denerstein and Lawrence Zweifach.
Gibson Dunn and Debevoise were the only two firms he seriously considered joining when he left JPMorgan, Biben added. He said both were great firms, but noted that Debevoise was the first law firm he’d worked at and said it was time to move on.
In his time at Debevoise, Biben represented Habib Bank Ltd. in a $225 million settlement with New York regulators for alleged anti-money laundering compliance failures before it stopped doing business in the state. His group also represented Societe Generale in AML-related settlements with the Federal Reserve and the New York Department of Financial Services. He has also written articles on the importance of anti-money laundering compliance.
According to an online biography, Biben advises boards and corporate officers on the False Claims Act, Bank Secrecy Act and AML and data-breach obligations. His practice “focuses on problem-solving, advising organizations and individuals and investigating, negotiating, and litigating complicated regulatory and enforcement matters of all types,” the bio said.
While he represents a broad sweep of banks, Biben said about 20 to 25 percent of his work falls outside the financial services area, including in more general civil litigation and Securities and Exchange Commission enforcement.
In his time at BNY Mellon, Biben helped the bank settle a $22 billion suit brought by the Russian government for just $14 million. More recently, he has represented Everbank, one of several defendants in a whistleblower suit related to the financial crisis, and signed letters expressing support for the federal sentencing reform law known as the First Step Act.
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