Debevoise & Plimpton
International Top 30 position: 17
Debevoise posted a 2.8 per cent increase in revenue for 2011, taking total fee income to $675.5m.
Average profit per equity partner was static at $2.08m but revenue per lawyer rose significantly, by 7.2 per cent, to $1.05m.
While capital markets was sluggish, several stand-out M&A deals helped Debevoise post positive results that year, in particular a string of major matters for Russian clients in the European part of the business.
London managing partner James Scoville said one of the themes of the year had been the “tremendous number of major Russian deals” on which Debevoise advised.
They included Russian potash producer Uralkali’s $8.1bn merger with rival Silvinit, with corporate partner Alan Kartashkin in the firm’s 30-lawyer Moscow office leading alongside Scoville.
Debevoise also represented KazakhGold in its $10bn combination with Polyus Gold, and RTS in its $5bn merger with Micex.
Senior Herbert Smith Freehills litigation partner Kevin Lloyd defected to the US firm in December 2012.
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Briefings from Debevoise & Plimpton
Federal banking agencies, the Securities and Exchange Commission and the Commodity Futures Trading Commission have adopted final regulations to implement section 13 of the ‘Volcker Rule’.
Next year, market participants may be required to execute certain interest rate swaps and credit default swaps on a DCM or SEF, rather than entering into such swaps over the counter.
Analysis from The Lawyer
Shell legal director Peter Rees is switching litigation control away from external counsel to a unified global team of in-housers