Davis Polk & Wardwell
International top 30 position: 27
International 50 position (Asia-Pacific): 20
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Davis Polk & Wardwell posted global turnover of $910m in 2011 with $42.3m of that revenue coming from the firm’s UK operations placing it at 27 in The Lawyer’s International Top 30.
The firm’s election of a new managing partner, Tom Reid, in April 2012 heralded a change in strategic direction for the firm, which boasts a first-rate capital markets practice but which was viewed as behind its competitors when it came to international reach. The election of Reid was followed in short order by the hire of Freshfields Bruckhaus Deringer capital markets partner Simon Witty, giving Davis Polk English law capability in London for the first time.
The strategic change of direction seems to have paid dividends with the firm landing roles on a number of big deals, including acting for the target in the $28bn (£18bn) takeover of food giant Heinz by an investment consortium.
The Davis Polk corporate team advising Heinz included partners Arthur Holden, John Bick and Michael Davis, with associate Lee Hochbaum. Partner Kyoko Takahashi Lin advised on employee benefits and partner Kathleen Ferrell on tax. Also on the New York-based team was finance partners James Florack and Michael Kaplan with associate Sophia Hudson and antitrust and competition partner Ronan Harty.
The firm is also acting on the US aspects of the £50m Esure IPO announced in February 2013.
News from The Lawyer
Briefings from Davis Polk & Wardwell
A panel of three judges in the DC Circuit stunned Washington on Friday by striking down President Obama’s recess appointments to the NLRB in Noel Canning v NLRB on a basis much more sweeping than had been anticipated.
On 11 January 2013, the SEC approved the NYSE and Nasdaq listing standards, as amended, to implement the SEC’s requirement that national securities exchanges prohibit the listing of any equity security of an issuer that does not comply with the SEC’s rules regarding the independence of compensation committees and their advisers.
Analysis from The Lawyer
Hong Kong IPO activity is hotting up again, but UK legal stalwarts are looking over their shoulders as US rivals make up ground fast
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Overview99 Gresham Street
Global revenue 2011 ($m): 910
Global lawyers 2011: 772
No. of offices: 3
No. of qualified lawyers: 112 (International 50)