Shearman & Sterling

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Shearman & Sterling LLP
Headquarters	New York City
No. of Offices	19
No. of Attorneys	1000+
Major Practice Areas	General practice
Revenue	$921 million (2007)
Date Founded	circa 1873
Company Type	LLP
Website	www.shearman.com

Shearman & Sterling LLP is a U.S. law firm headquartered in New York City with 19 offices located in major financial centers around the world. It is well known for both its litigation and transactional work, especially in International Arbitration, Capital Markets, Finance, and Mergers & Acquisitions. As of 2006, it was the 17th largest law firm in the world as measured by 2006 annual revenue.

Contents 1 History 1.1 Offices (with year of establishment) 1.2 Closed offices 2 Recognition 3 Regional Reputation 3.1 North America 3.2 Latin America 3.3 Europe 3.4 Asia-Pacific 3.5 Africa/Middle East 4 Key Practice Areas 5 See also 6 References 7 External links

[edit] History

Shearman & Sterling was founded in 1873 by Thomas Shearman and John William Sterling, who concentrated on litigation and transactional matters respectively. The young firm represented financier Jay Gould, industrialist Henry Ford and cultivated a number of important business ties that would evolve into long-standing client relationships, such as with the Rockefeller family and the predecessor banks to Citigroup and Deutsche Bank.^[1] The firm experienced international expansion in the post-World War II era under the direction of Boykin C. Wright, a senior partner who joined the firm from Cahill Gordon & Reindel with a group of attorneys, briefly leading the firm to add his name to the letterhead.^[2] The firm is well known for its ability to compete in key legal markets, particularly in Germany where its mergers and acquisitions practice is preeminent and in the United Kingdom, where it fields one of the largest London offices of a non-UK law firm.

Today Shearman & Sterling has grown from its New York Wall Street beginnings with 7 staff members to embrace a worldwide presence of some 1000 attorneys in 19 offices.

[edit] Offices (with year of establishment)

• Abu Dhabi (1975)
• Beijing (1993)
• Brussels (2001)
• Düsseldorf (1991)
• Frankfurt (1991)
• Hong Kong (1978)
• London(1963)
• Menlo Park (1998)
• Münich (2001)
• New York (1873)
• Paris (1972)
• Rome (2002)
• San Francisco (1978)
• São Paulo (2004)
• Shanghai (2007)
• Singapore (1995)
• Tokyo (1987)
• Toronto (1995)
• Washington, D.C. (1987)

[edit] Closed offices

• Algiers
• Budapest (1991)(closed in 1997)
• Los Angeles (1985)(closed in 1997)
• Mannheim (2000)(relaunched as boutique in 2008)

[edit] Recognition

Shearman & Sterling is ranked as 14th in "Overall Prestige" on the Vault Top 100 Firm Rankings^[3] in 2008. It is also ranked 12th in Prestige in New York City, 7th in International Law and 9th in Securities. The firm is top-rated in Chambers & Partners Global Guide for 2008^[4] in the following categories: dispute resolution, international arbitration, project finance, projects & energy: Middle East, projects & energy: power, and public international law. It is also highly rated globally in capital markets: debt, capital markets: equity, capital markets: high-yield products, banking & finance, asset finance, tax, projects & energy: Latin America, and projects & energy: North America.

[edit] Regional Reputation

The firm has also been involved in numerous regions of the world for decades, often fielding various overseas offices and a dedicated group of attorneys across offices with experience and familiarity in dispute resolution, transactions and counseling on a regional level.

[edit] North America

Shearman & Sterling remains a powerhouse in its New York base and with significant capabilities in Washington, D.C. and California, where it operates out of its San Francisco and Menlo Park offices. It is also active in representing Canadian issuers and underwriters in securities transactions and corporate clients in a variety of matters from its Toronto office.

[edit] Latin America

Shearman & Sterling has been involved in Latin America for decades. The firm's attorneys helped restructure the debts of many Latin American nations in the 1980s. It also won mandates in the privatization of numerous state-owned entities. It is particularly active in Argentina, Chile, Peru and Colombia in addition to Brazil, where it has been one of the handful of US and international firms to open an office. The firm recently won a mandate to represent the Panama Canal Authority in the finance of the enlargement of the canal. Infrastructure Journal awarded the firm "Top Latin America Legal Adviser for mandates won," in 2007.^[5] It has been involved in some of the largest and most complex IPOs, including the 2007 IPO of Bovespa, the São Paulo stock exchange which raised $3.7 billion dollars, the largest Brazilian IPO ever and was named LatinLawyer Deal of the Year.

[edit] Europe

Shearman & Sterling was one of the first American law firms to successfully grow a large London office and attract (and retain) highly capable UK-qualified solicitors. It therefore remains one of the few firms capable of indigenously generating deal flows and case mandates rather than relying on referrals from its American headquarters.^[6] In the United Kingdom, Shearman & Sterling is known for its project finance, capital markets: debt, equity and high-yield products, and corporate mergers & acquisitions work.^[7] It is ranked 11th in the Vault Guide for 'Top 50 Most Prestigious' London offices.^[8]

The firm is also well-known within the German market, another notoriously tough jurisdiction for American law firms. It once was given the moniker "German & Sterling" for its ability to cultivate long-term client relationships with blue chip German companies. This relationship grew out of post-WWII mandates in restructuring the debt of German industrial companies. Today, the insurance giant Allianz is a major client. In 2000, the firm merged with the German corporate boutique Schilling Zutt & Anschütz, opening an office in Mannheim. In 2008, a number of legal publications reported that the 30-member Mannheim office had parted ways with Shearman & Sterling to relaunch as a boutique under the old Schilling Zutt Anschütz name.^[9] The firm employs almost 100 attorneys in Germany across its three remaining offices in Düsseldorf, Münich and Frankfurt. In Germany, Shearman is top-rated in capital markets, mergers and acquisitions, bank finance, dispute resolution and tax.^[10]

From its Paris base, Shearman & Sterling operates internationally in the field of international arbitration. It is also top-rated in capital markets, mergers & acquisitions and in tax. The Paris office, with nearly 80 attorneys is the sixth largest offices among US law firms.^[11] France Telecom is a major client, particularly in the field of capital markets.

Shearman's Italian office is well regarded for representation of Italian companies in initial public offerings as well as underwriters in all manner of capital markets transactions under English, Italian and American law. It is also known for its M&A capability. In 2007, the firm handled the largest Italian IPO, valued at 1.2 billion euro, that of Prysmian S.p.A., manufacturers and installers of energy and telecommunications cables.

In Central Europe, Shearman & Sterling briefly operated a Budapest, Hungary office in the early 1990s. A number of attorneys who worked in that branch are still members of the firm.

[edit] Asia-Pacific

Shearman & Sterling was one of the first US law firms to seize upon opportunities in Asia. It now enjoys a strong reputation Asia-wide for international arbitration, capital markets: debt and equity, high-yield products, corporate M&A, private equity, hedge funds and project finance according to Chambers Asia.^[12]

Shearman's Hong Kong office is one of the oldest of any US law firms. It has strong, internationally-recognized capabilities in capital markets, IPOs and other notes offerings under US and Hong Kong law. The firm's Korean practice group is based in Hong Kong.

In China, it is top-rated in corporate M&A. It has been involved in numerous telecommunications joint ventures. In 2007, Shearman & Sterling was named "Merger & Acquisition Market Lead Legal Advisor of the Year 2007" at the China Venture Capital Annual Forum.^[13]

The firm's Singapore base offers strong finance, capital markets, project finance and dispute resolution advice in a hub that is increasingly a forum of choice for international arbitrations in Asia as well as a point to service Indonesian, Indian and other Southeast Asian clients.

Finally, Shearman's Tokyo office is known for its corporate and capital markets abilities.

[edit] Africa/Middle East

The firm has been deeply involved in the Middle East and Africa for many years. From an early date it represented Sonatrach, the Algerian state-owned oil company and opened an office in Algiers to better serve its client. It has since diversified its client base to include mining companies such as AngloGold. In 2003, the firm represented long-standing client AngloGold, the South African mining concern in its $1.89 billion dollar proposed merger with Ghana's Ashanti Goldfields Corporation to form AngloGold Ashanti. From its Abu Dhabi base, Shearman represents Qatar Petroleum and the Abu Dhabi Investment Authority, a sovereign wealth fund that recently purchased an investment in Citigroup.

[edit] Key Practice Areas

• Corporate
  • Antitrust
  • Asset Management
    • Commodities, Futures and Derivatives
  • Bankruptcy & Reorganization
  • Capital Markets
  • Corporate Governance
  • Executive Compensation & Employee Benefits
  • Finance
    • Financial Institutions Advisory
    • Project Finance and Development
    • Bank Finance
    • Structured Finance
  • Healthcare
  • Insurance
  • Mergers & Acquisitions

• Intellectual Property
  • Outsourcing

• Private Client

• Property
  • Environmental

• Litigation and Arbitration
  • Criminal Law, Regulation and Enforcement
  • International Arbitration
  • International Trade & Government Relations
  • Litigation

• Tax

[edit] See also

• Law firm
• International Arbitration
• White shoe firm
• Shearman & Sterling pro bono work on behalf of Guantanamo detainees

[edit] References

[edit] External links

• Official website
• LawPeriscope Profile