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Covington & Burling has recruited the Securities and Exchange Commission's (SEC) director of corporate finance to head up its securities practice
David Martin has joined the US firm as a partner and will split his time between New York and Washington DC. Despite being in the US top 100 law firms, DC-based Covington is not renowned for its securities work. Martin said: "We have a large corporate practice and embedded within that is a core of about 20-25 lawyers that focus on securities matters." The hire will raise the firm's profile in this area, particularly in this post-Enron time when former SEC lawyers are at a premium. Martin oversaw public company disclosure to securities markets and investors at the SEC. His work included the rules governing the independence of auditors and standards for corporate governance. "You can never go wrong joining a top-tier organisation. I'm awed by the talent at this place," he said, adding that taking charge of a practice area was an obvious incentive. Covington management committee chairman Stuart Stock said: "David brings an intimate knowledge of the SEC's practices. His experience will be of great value to our corporate and underwriter clients."