Firms set up financial crisis response groups

Firms set up financial crisis response groupsThree US firms have set up individual crisis groups to help their clients get to grips with the ongoing turbulence in the financial markets.

Akin Gump Strauss Hauer & Feld has named its group the Financial Markets Crisis Resource Center while K&L Gates has set up a global financial markets group and Mayer Brown has set up a financial institutions response unit.

The services are broadly similar with Akin Gump’s offering news, information and analysis on the financial crisis while K&L Gates’ attempts to identify future developments and Mayer Brown’s features webinars on issues such as dealing with distressed assets and regulatory matters.

Akin Gump’s clients can access the firm’s resource centre via its website, where there will be round ups of legal and economic analyses that appear in newspapers and on the internet.

The service at K&L Gates takes a similar form, with the group primed to send regular markets-focused communications to clients.

Chairman and global managing partner Peter Kalis said: “The transformation of the financial industry and markets is unprecedented and developments are occurring rapidly. This initiative has helped us meet client demands during these challenging times.”

At Mayer Brown, where the response unit has a London focus, clients can call a dedicated number, with calls being filtered through to lawyers in a variety of practice areas.

Dominic Griffiths (pictured), the partner leading the response unit, said: “We have a vast amount of experience in complex financial transactions and have pulled together a dedicated team of specialist lawyers to offer emergency assistance.”