UK

London (Firms)

Capital Markets: Debt & Equity


Due to the number of tables in this section, the editorial is in alphabetical order by firm name.

Capital Markets: Debt & Equity - London (Firms)

 - 

Basic facts about the department
 - 30 partners 
 - 47 associates

What the team is known for Maintains its position as a leading DCM firm, highly regarded for its skill in handling emerging markets bond issues, liability management transactions, sovereign bonds and high-yield transactions. Offers enviable international expertise with particular experience operating in Turkey, Africa, the Middle East and the CIS. Also demonstrates substantial strength in ECM, successfully acting on many of the most high-profile IPOs in recent times, and with a strong track record on big-ticket recapitalisations, refinancings and acquisition financings involving new money.

Strengths (Quotes mainly from clients)
Responsiveness: "They deliver things on time, they're very proactive, thinking about issues, raising them and making the transaction run as smoothly as possible for everyone involved."

Pragmatic advice: "They are really hands-on and pragmatic."  

Client service: "They show real enthusiasm for debt capital markets, they've been consistently strong."

Industry knowledge: "Thought leaders in the Medium Term Note space."  

What's new? Made two substantial hires from Herbert Smith in the form of Jim Wickenden, as head of the US corporate finance group, and US-qualified Adam Wells, both of whom have extensive experience in the market and add significant strength to the team.

Jeanette Cruz was promoted to partner. She is noted for her strong high-yield practice.

Work highlights Acted for Russian bank JSC VTB in connection with the issuance of USD1 billion Perpetual LPNs. This was the first issue of hybrid Tier 1 regulatory capital by a Russian Bank.

Advised on the high-profile £2.9 billion IPO of Direct Line on behalf of both Direct Line Insurance Group and The Royal Bank of Scotland. Also advised on the issue of hybrid tier 2 regulatory capital prior to the IPO.

Notable practitioners  

Sources note that Jonathan Melton provides "good commercial advice, responds quickly and takes the initiative to resolve issues." He has a breadth of debt capital experience and a particular focus on liability management issues.

Stephen Miller "manages to combine the technical side and the client-facing side very successfully" according to interviewees, who note that "he always adds value to a transaction." He advised on the issue of USD2.07 billion of hybrid bonds by BG Energy Capital.

Matthew Hartley is "very knowledgeable in public debt markets" and commentators appreciate his ability to deliver to tight timetables. His broad transactional experience encompasses MTN programmes, hybrid capital issues and securities offerings.

Philip Smith's practice includes a significant concentration on emerging markets, and he led the team on the aforementioned JSC VTB Bank issuance. Sources note that "he's accessible and reasonable." 

The "level-headed and pragmatic" Theo Trayhurn was involved in advising on the London Stock Exchange Group's issuance of £300 million under its EMTN programme, on behalf of the Trustee and the Joint Lead Managers. Sources state that "he can get into the nitty-gritty and he doesn't spend too much time on non-important issues."

Boyan Wells was the lead partner advising on the London Stock Exchange Group's £300 million issuance with Theo Trayhurn. He brings a wealth of experience in the space and is described as "one of the nicest people on the planet and a phenomenal lawyer" by enthusiastic sources.  

Roger Wedderburn-Day demonstrates expertise across both debt and equity capital markets, particularly on an international level. He handles equity offerings, privatisations, MTN programmes, and convertible and exchangeable bonds.

Mark Dighero leads the firm's ECM group. He recently advised Oriel Securities, RBC Capital Markets and JPMorgan Cazenove with regard to the £150 million cash placing by Africa-focused, independent oil and gas company Ophir Energy.

Andrew Ballheimer is highly experienced in both debt and equity capital markets. His workload frequently involves international aspects, and he has handled multi-jurisdictional transactions across Asia, Latin America, Europe and the USA.

Kevin Muzilla heads up the firm's high-yield offering. Sources find him to be practical, and appreciate that "he doesn't get too caught up in being a lawyer for being a lawyer's sake." Of recent note he acted on behalf of PAI Partners with regard to a USD1 billion high-yield bond refinancing. 

Sources say that Jeanette Cruz is "on top of the issues" and feel comfortable when they know she is working behind the scenes in a difficult transaction. Her high-yield experience includes restructurings, acquisition financings and bridge financings.

US-qualified Adam Wells wins praise from sources for providing "solid sensible advice" and for being very easy to deal with. His expertise covers advising on debt, equity and equity-linked securities for investment banks and companies.

Significant clients JPMorgan, Bank of Ireland, NMC Health, Citi, Bank of America Merrill Lynch.

Basic facts about the department
 - 18 partners 
 - 28 associates

What the team is known for Recognised as a key player in both ECM and DCM, maintaining strong relationships with a number of leading broker and investment banks, and receiving a regular flow of notable instructions. Remains a flexible and balanced practice, acting for corporate clients as well as banks. Particularly noted for its proficiency advising on matters in the natural resources and energy sectors.  

Work highlights Acted for Oriel Securities, RBC Capital Markets and Goldman Sachs in connection with their role as underwriters of Salamander Energy's USD212 million rights issue. This was the first transaction the ECM team handled for Goldman Sachs.

Advised Commerzbank with regard to Samsonite International's USD1.25 billion flotation on the Hong Kong Stock Exchange. 

Notable practitioners  

Department head Nicholas Holmes is a "very wise" and "very experienced UK capital markets practitioner." His broad expertise covers the whole range of equity transactions, and he led the team on the aforementioned Salamander Energy rights issue.

Jennifer Schneck "has a wealth of UK, emerging markets and capital markets expertise" according to sources. She advises investment banks and corporates on private placements, securities offerings and capital raising.

Anna Delgado heads up the firm's DCM group and is particularly experienced across exchangeable and convertible bonds, MTN programmes and international bond issues. Interviewees appreciate that she is "always responsive and up-to-date."

Francis Kucera recently joined the firm from Linklaters. According to sources he is "very responsive, very knowledgeable and very good at getting things done." He has extensive experience in European emerging markets, handling both ECM and DCM matters.

Significant clients William Hill, Avocet, Goldman Sachs, Oriel Securities, Vedanta Resources.

Basic facts about the department
 - 9 partners 
 - 17 associates

What the team is known for Capitalises on the firm's comprehensive global coverage to offer a seamless service to international clients on both ECM and DCM matters. Focuses largely on cross-border deals and is well known for its extensive emerging markets expertise, with particular recent focus on deals involving Russia and Turkey.

Strengths (Quotes mainly from clients)
Client service: "They get their hands dirty with you. I think that's the key distinction."

Work highlights Acted on behalf of the Kingdom of Bahrain in relation to its USD1.5 billion bond issuance.

Advised Russian oil group Exillon Energy with regards to a secondary placing of its shares on the Warsaw Stock Exchange. 

Notable practitioners  

Christopher Hogan heads the UK DCM group, and he largely concentrates on the Middle East and the CIS, frequently advising on equity-linked and debt transactions originating there. He also has considerable experience in Islamic finance transactions.  

Edward Bibko heads up the EMEA capital markets group at the firm, and regularly advises on international ECM and DCM transactions. According to sources he "is tenacious yet courteous in dealing with difficult corporate clients and can get things done in difficult situations."

Significant clients ING, Banco Santander Totta, Michelin Luxembourg, Metinvest, Schmolz + Bickenbach.

Basic facts about the department
 - 5 partners 
 - 4 associates

What the team is known for Notable strength in DCM, focusing on advising on private placements, for which it utilises the firm's strong US connections and acts on behalf of a largely US client base. Counts several US-qualified practitioners amongst its ranks in London. Significant experience acting on matters that also involve an element of securitisation.

Strengths (Quotes mainly from clients)
Industry knowledge: "They know the industry, they know the law, they know how to negotiate - they know when to push and when not to push. They're really good at understanding everyone's position and getting everyone to a compromise."

Technical ability: "They're very diligent in the work that they do and the issues that they raise. They're not afraid to press issues with the borrowers and the banks."

What's new? Michael Gustafson was promoted to partner. He has commendable cross-border experience and has acted on behalf of a number of leading financial institutions and insurance companies.

Work highlights Advised a number of institutional investors with regard to their USD1 billion purchase of senior unsecured notes issued by Scottish engineering solutions business, The Weir Group.

Acted for a group of institutional investors in relation to their USD750 million purchase of senior secured notes issued by a Thames Water affiliate. The team advised on both UK and US law aspects of the transaction.

Notable practitioners  

Interviewees consider head of the department Barry Russell to be a great lawyer because "he gets to the point and he understands the issues." He acts for lenders and investors on cross-border private placements, and also has extensive expertise advising on complex workouts and restructurings.

Significant clients New York Life, Prudential Insurance Company of America, AIG Asset Management, Metropolitan Life Insurance Company, Babson Capital.

What the team is known for Remains a key player in the high-yield debt sphere. Frequently represents leading financial institutions, handling some of their most complex transactions, often with multi-jurisdictional aspects. Strong track record of successfully advising underwriters and issuers on investment-grade offerings.

Notable practitioners  

James Robinson remains a highly regarded name in the high-yield market. He has a wealth of experience advising issuers, investment banks and commercial banks on cross-border transactions.

The "very talented" Anthony Tama has established a strong high-yield practice. His experience encompasses secured and unsecured high-yield debt securities issuances, acquisition financings and restructurings.

Basic facts about the department
 - 7 partners 
 - 30 associates

What the team is known for Remains a leading firm in the ECM sphere, providing a top-tier service to clients involved in major IPOs and further equity offerings. Also remains a market-leader in DCM, with substantial experience acting for bond issuers in emerging markets, and particular in-depth knowledge of the Russian market. Adopts a multi-disciplinary approach to capital markets, with practitioners who are adept at advising on DCM, ECM and high-yield transactions. 

Strengths (Quotes mainly from clients)
Commercial Awareness: Some very strong technically competent partners who are able to give the technical advice and craft it to the particular transaction. They make it commercial when necessary, which is helpful."

Client service: "They're willing to go above and beyond when you ask them for advice."

What's new? The team won an important new client in the form of Ericsson.

Work highlights Advised Russian mobile telecommunications operator Megafon on its USD1.7 billion IPO. This was a dual-listing in London and Moscow, and was the largest LSE IPO of 2012.

Acted for the Russian Federation in connection with its USD7 billion Eurobond issuance, which involved the first-ever issuance of 30 year paper by Russia.  

Notable practitioners  

Simon Ovenden advised Felda Global Venture on its USD3.2 billion Malaysian IPO, the third-largest IPO in the world in 2012. Interviewees describe him as "very accurate, very competent and extremely responsive."

Raj Panasar is well regarded in the market by peers and clients. He has significant experience in Russia and co-led the team on the Megafon IPO. He also worked alongside Simon Ovenden on Felda Global Venture's major IPO.

Interviewees appreciate Sebastian Sperber's technical ability and state that "he's fantastically knowledgeable and very approachable." He recently advised GlaxoSmithKline in relation to the issuance of USD5 billion unsecured notes by its subsidiary. 

David Gottlieb is a debt and equity specialist who splits his time between the firm's London and Moscow offices. In a recent highlight he led the team advising the Russian Federation on the issuance of its USD7 billion Eurobond. Interviewees find him "attentive and helpful."

The "brilliant" Pierre-Marie Boury is a high-yield expert who commentators describe as an "extremely smart individual with a knack for conveying complex concepts as easy to grasp ones." They also praise his "ability to distinguish the important from the minor issues."

Daniel Braverman has impressed sources with his hard-work ethic, and they note that "it's good to have him on the deal." He has substantial expertise in matters concerning Russia and was one of the lead partners handling the aforementioned Megafon IPO.

Significant clients Credit Suisse, HSBC, Prudential, GlaxoSmithKline, Russian Federation.

Basic facts about the department
 - 23 partners 
 - 114 associates

What the team is known for Remains at the forefront of the market on both the debt and equity side, boasting a well-balanced practice that effectively assists underwriters and issuers across a range of complex matters. Draws upon the firm's deep bench of practitioners in order to provide expertise across a range of key sectors including insurance, tax and mining. Also houses notable high-yield expertise.

Strengths (Quotes mainly from clients)
Client service: "Excellent common sense, friendly service from them. Very high quality, whether they're advising you, or on the other side, they're not the sort of firm that unnecessarily creates problems."

Bench strength: "Clifford Chance is my law firm of choice because of the level of senior support I receive on transactions as well the depth of legal knowledge and capacity in the other lawyers."  

Work highlights Acted for joint lead managers Deutsche Bank and Barclays Bank in connection with the Republic of Zambia's USD750 million debut Eurobond issuance.

Advised Bank of America Merrill Lynch in relation to Russian oil and gas explorer and producer RusPetro's USD250 million LSE IPO. 

Notable practitioners  

Sources are keen to highlight that global head of capital markets David Dunnigan "is very accessible and hands-on." He also wins plaudits for his "pragmatic approach to solving legal issues" and "great communication and interpersonal skills." He acted for Inter-American Investment Corporation, helping to establish its USD1 billion EMTN programme.

Eric Green is described as "very capable and confidence inspiring, good at co-ordinating and good at diving in." He has been involved in a number of the firm's key DCM deals.

Simon Sinclair wins praise for being "very client service-focused" and has particularly impressed interviewees with his responsiveness and his measured approach. He specialises in both debt and equity capital markets work, and recently assisted UBS with a USD2 billion CoCo issuance.

John Connolly is a US securities expert, and of late he handled all the US securities aspects of NMC Health's initial LSE listing, on behalf of Deutsche Bank.

Stewart Dunlop comes highly recommended for his expertise on liability management issues, and he also handles EMTN programmes, regulatory capital issues and equity-related issues for borrowers and arrangers.

David Bickerton is managing partner of the firm's London office. Interviewees appreciate that he makes them feel like "the only client in the world" and highlight that he provides clear advice and is very accessible. 

Simon Thomas "really has a good understanding of the issues that matter to banks" and "provides clear and solution-based advice" according to sources. He focuses on ECM work and has significant emerging markets experience, particularly in the Middle East and Russia.

Christopher Walton has a wealth of experience advising on US capital markets issues, as well as international ones. He was part of the team that advised Bank of America Merrill Lynch in connection with RusPetro's USD250 million flotation on the LSE.

Adrian Cartwright is co-head of the European capital markets group. He acted on behalf of JPMorgan in relation to the EUR1.25 billion issuance made by KBC, via an accelerated book build.

Michael Dakin concentrates his practice on high-yield transactions. He was recently involved in advising Spanish cable operator ONO on a number of transactions, including a USD1 billion high-yield issuance, for the purpose of completely refinancing its debt.

Significant clients Deutsche Bank, EQT, Goldman Sachs, Montagu, Nomura.

Basic facts about the department
 - 4 partners

What the team is known for Recognised as one of the key players operating in the European high-yield market, with each of the key partners having developed their knowledge of this market during their time in New York. Maintains a number of significant client relationships, serving as underwriter's counsel for many leading investment banks, and issuer's counsel for a range of prominent corporates.  

Strengths (Quotes mainly from clients)
Technical ability: "Just incredibly experienced, you know you're getting the best advice." 

Work highlights Acted on behalf of the underwriters to the State Treasury of Poland's three registered bond offerings which comprised a total of USD5 billion.

Advised AngloGold Ashanti Holdings in relation to its USD750 million registered debt IPO. This offering was guaranteed by one of the world's largest gold producers AngloGold Ashanti.

Notable practitioners  

The "superb" Philip Boeckman is managing partner of the London office. He is highly regarded for his high-yield expertise, and his broad practice also encompasses other leveraged financings, rights issuances and IPOs. He recently advised European Investment Bank in relation to USD23.5 billion worth of registered debt offerings. Sources note that he is "an efficient and slick executer of deals, who gets what the clients need."

George Stephanakis acted on behalf of Peugeot with regards to a EUR999 million rights issue of shares listed on the NYSE Euronext Paris. He has a wealth of experience across IPOs, secondary offerings and high-yield financing, and interviewees highlight that he is "great to work with."

Significant clients Gala Coral, European Investment Bank, Sappi, Morgan Stanley, Credit Suisse.

Basic facts about the department
 - 6 partners

What the team is known for Offers comprehensive knowledge of global securities offerings, and works in conjunction with the firm's overseas offices to provide clients with French, Chinese, US and English law capabilities. Particularly adept at advising underwriters and large companies with regard to transactional issues involving the US market.

Strengths (Quotes mainly from clients)
Technical ability: "They always know the technical aspects, the precedents and how to negotiate with their counterparts."

What's new? Launched an English law practice to work alongside the well-established US law practice based in London. This was supported by the recruitment of two new partners: Simon Witty from Freshfields Bruckhaus Deringer, and Will Pearce from Herbert Smith Freehills.

Work highlights Represented Banco Popular Español in relation to its EUR2.5 billion public and private rights offering. The team advised on both the English and US federal law aspects of the matter.

Acted for RBS with regards to its tender offers to purchase any and all of its USD13.3 billion US dollar denominated senior notes for cash.

Notable practitioners  

Commentators describe Paul Kumleben as "an amazing gentleman to work with," highlighting that he has "good solid judgement" and "never gets fazed by anything." His broad practice encompasses both ECM and DCM, and he has substantial experience in African and European emerging markets.

The "very knowledgeable" Jeffrey Oakes offers expertise in debt, equity and hybrid transactions, and was part of the team that handled the Banco Popular Español matter mentioned above. Interviewees admire his "very good business sense" and note that "his opinions, views and forecasts carry a lot of weight."

Simon Witty is "a highly respected and extremely competent ECM practitioner." He is an expert on private and public securities offerings, and of late, advised Capitec Bank in relation to its ZAR2.48 billion rights offering. Sources particularly admire his pragmatic approach to matters.

Will Pearce is well regarded in the market. He handles securities offerings, listings and equity financings for a client base of listed companies, corporates and investment banks.

Significant clients AstraZeneca, Lloyds TSB Bank, Anglogold Ashanti, UBS, Diageo.

Basic facts about the department 
- 12 partners 
- 18 associates

What the team is known for Provides advice across the full range of capital markets transactions, including SEC and UKLA regulated matters. Well known for its expertise advising on sovereign debt issuances in emerging markets, particularly in countries in North Africa and the Middle East, such as Lebanon, Tunisia and Morocco.

What's new? Former Dewey & LeBoeuf practitioners Camille Abousleiman, Louise Roman Bernstein and Simon Briggs joined the team, significantly bolstering the firm's DCM and high-yield capabilities.

Work highlights Acted for The Lebanese Republic in connection with a USD2 billion issuance made under its USD22 billion global MTN programme.

Represented JSC Development Bank of Kazakhstan with regard to an update of its USD2 billion MTN programme, as well as an offering under the programme of USD1 billion 4.125% notes due in 2022. 

Notable practitioners  

DCM specialist Camille Abousleiman is especially adept at advising on transactions in North Africa and the Middle East, and in Lebanon in particular. Sources appreciate "the relationships and the experience" that he is able to bring to matters.

Significant clients The Lebanese Republic, Bank Audi SAL-Audi Saradar Group, El Tejar, JSC Development Bank of Kazakhstan, Carlson Wagonlit Travel.

Basic facts about the department
 - 10 partners 
 - 15 associates

What the team is known for Noted for its proficiency in DCM, particularly advising issuers in emerging markets transactions across a diverse range of jurisdictions such as Africa, Kazakhstan and the Middle East. Also has notable experience advising on Sukuk transactions for issuers and underwriters.

Strengths (Quotes mainly from clients)
Technical ability: "They're very professional, and provide very good legal and commercial advice."

Client service: "The support went well beyond the call of duty, they were very supportive and their knowledge of the London market was very, very impressive."

What's new? SNR Denton, Salans and Fraser Milner Casgrain merged to form Dentons, a firm with increased international capabilities and a broader capital markets offering.

Work highlights Acted for the Law Debenture Trust in connection with its role as bond trustee to the EUR1.3 billion restructuring of SEAT Pagine Gialle guaranteed bonds. The group acted in conjunction with colleagues in New York to advise on UK and US law aspects of the transaction.

Advised Doha Bank with regard to the establishment of its USD2 billion EMTN programme, and a subsequent issuance under the programme of USD500 million 3.5% guaranteed notes.

Notable practitioners  

Sources find head of department David Cohen "extremely professional and very easy to talk to." His experience encompasses a broad array of matters, such as private placements, Eurobonds and project bonds.

Matthew Sapte is a DCM and derivatives specialist. He acts for corporates and banks across a broad range of transactions, such as MTN programmes and Eurobonds. Sources admire the breadth of his expertise and note that he is "unfazed by any structure." 

Laura Cansdale wins plaudits from interviewees for her diligence, strong work ethic and good attention to detail. They also highlight that she is particularly effective at working with clients on an international basis.

Significant clients Qatar International Islamic Finance, Doha Bank, Cadogan Petroleum, Zeus Capital, FirstRand Bank.

\
 - 20 partners 
 - 60 associates

What the team is known for Maintains its position as one of the leading ECM practices in the market, demonstrating its broad capabilities acting on some of the most high-profile IPOs of recent years. Also has strong expertise on the debt and high-yield side, with significant experience advising on MTN programmes, liability management transactions and standalone bond issuances, often in emerging markets. Remains an active participant in industry development discussions, often working in conjunction with regulators and exchanges. 

Strengths (Quotes mainly from clients)
Bench strength: "Geared up for deals across the spectrum in terms of size, they're equipped to handle even the largest deals."

Technical ability: "They're very good technically and help to drive the transaction through to a very successful conclusion."

Work highlights Advised Xstrata in connection with a USD 4.5 billion Yankee bond offering.

Acted for a syndicate of banks with regard to their role as joint bookrunners for MegaFon's USD1.7 billion IPO. This included the undertaking of particularly complex due diligence matters.

Notable practitioners  

The "very experienced and very capable" Julian Makin is regarded as a "go-to person on mining and ECM work." He is co-head of the firm's mining and metals team, and offers expertise in both DCM and ECM.  

Sources are full of praise for ECM specialist Sarah Murphy commenting that she is "obviously completely at the top of her game," and particularly admiring that "when it's a complicated matter she's good at taking charge and heading forward with it."

Highly experienced ECM practitioner Tim Jones brings "exceptional" experience and gravitas. He recently advised on DS Smith's £466 million rights issue, on behalf of sole sponsor and bookrunner JPMorgan Cazenove.

Mark Austin frequently acts for investment banks and corporates, advising on a variety of matters, including public and private securities offerings. Commentators find him "very hands-on and very considered" in his approach.

Significant clients Techem, Barclays, Severstal, Commerzbank, Xstrata.

Since publication, Tim Jones has retired from this practice.

Basic facts about the department
 - 13 partners 
 - 40 associates

What the team is known for Particularly strong on the equity side, regularly acting on behalf of an impressive roster of investment bank and listed clients. Operates as part of an international network of offices, drawing upon expertise across Europe, China, the UAE and Singapore. Also offers significant experience on domestic and multi-jurisdictional offerings of debt and equity-linked securities.

Strengths (Quotes mainly from clients)
Bench strength: "They have exceptionally strong senior associates"  

What's new? Following a term as senior partner of the firm's corporate division, James Palmer returned to the team. He brings a wealth of ECM experience that bolsters the group's offering in London.

Work highlights Acted for platinum producer Lonmin in connection with its USD817 million rights issue. This involved a renegotiation of its existing debt facilities, and the team advised on both UK and US law elements.  

Represented Morgan Stanley with regard to the £300 million sale, by Intesa Sanpaolo and Unicredit, of an 11.5% stake in the London Stock Exchange.

Notable practitioners  

Andrew Roberts has a wealth of experience in debt capital markets. He recently advised Severn Trent on the issuance of a £75 million retail bond under its MTN programme.

Charles Howarth is described as a "very good technician, with very good legal knowledge." He offers expertise across both DCM and ECM, and was one of the key partners involved in the aforementioned Lonmin rights issue.

Global head of capital markets Steve Thierbach is "exceptionally well regarded for his technical knowledge and his ability to work on transactions." He is an expert in US securities law and also acts on DCM and ECM transactions, especially those involving the Turkish market. He recently advised on Energy Assets Group's £30 million flotation on the LSE.

Christopher Haynes "has a very balanced, common-sense approach to things," which clients appreciate, along with his "knowledge and his ability to serve the wider industry points." His significant ECM experience includes advising on rights issues, IPOs and further equity offerings.

ECM specialist James Palmer advises clients on a broad range of issues, from securities offerings to corporate governance. He recently re-joined the team after spending two years as global head of the firm's corporate department.  

Greg Mulley combines knowledge of ECM with significant corporate law expertise. He handles equity transactions, M&A deals and joint ventures on both a domestic and international level.

Significant clients Hammerson, Standard Chartered, UBS, The Weir Group, Deutsche Bank.

Basic facts about the department
 - 3 partners 
 - 6 associates

What the team is known for Well-established high-yield practice within the London market. Primarily acts on behalf of leading sponsors, counting a number of prominent names amongst its core client base. Offers notable expertise advising on French high-yield transactions and houses multiple French-speaking practitioners.

Strengths (Quotes mainly from clients)
Client service: "They're a good firm, they represent their clients interests well, they're professional and they're efficient in the way they work." 

What's new? The group received instructions from key new client CVC.

Work highlights Advised Bain Capital and Hellman & Friedman portfolio company Verisure Holding in connection with a EUR771 million high-yield offering.  

Acted for Klockner Pentaplast with regard to the issuance of EUR225 million high-yield notes, for the purpose of refinancing a bridge loan.

Notable practitioners  

Ward McKimm is a go-to lawyer for more complex matters according to sources, who also note that he "approaches things in a very practical way, and he understands how to represent his clients interests, but also be reasonable in terms of requests." He recently handled the aforementioned matter for Verisure Holding.

Cédric Van den Borren is recognised for his experience advising on high-yield transactions by French issuers, wherein he has a very strong track record. 

Significant clients Bain Capital, Triton, 3i, Sun Capital, The Carlyle Group.

Basic facts about the department
 - 16 partners 
 - 90 associates

What the team is known for Market leaders in the high-yield market in the UK, frequently advising on the most complex, high-profile deals in the market. Increasingly acknowledged for its considerable ECM capabilities, working in conjunction with overseas offices to advise on major IPOs. Also offers commendable DCM experience, handling MTN programmes, eurobonds and emerging market debt offerings.

Strengths (Quotes mainly from clients)
Bench strength: "The sheer depth means that they are able to take on a lot of work without compromising quality and service."

International capability: "The coverage has been invaluable, they have demonstrated good co-operation across their offices - good communication and the ability to bring the right expertise in when necessary." 

What's new? Former co-head of ECM at Hogan Lovells, Richard Brown joined the team bringing significant experience in capital markets on both an international and domestic level.

Work highlights Advised JPMorgan and Goldman Sachs International in connection with specialty chemicals company Perstorp's USD1.09 billion multi-tranche bond issuance. The banks were the initial purchasers.

Acted on behalf of a syndicate of banks acting as underwriters for platinum company Lonmin's USD800 million rights issue.

Notable practitioners  

Brett Cassidy advised Barclays in connection with the acquisition financing for Terra Firma's £3.2 billion purchase of Annington Homes from Nomura International. He is well regarded in the market and sources note he operates in a "manner that is conducive to finding solutions."

Lene Malthasen is a DCM specialist whose practice includes a particular focus on the Middle East and Russia. She advised on the establishment of Samruk-Energy's USD680 million GMTN programme, on behalf of the arrangers and dealers. 

Richard Brown is "familiar with advising banks, very switched on to things that matter and very pleasant to deal with" according to interviewees. He focuses on ECM and has significant experience across the Middle East, Europe and Asia.  

Antti Ihamuotila advises on private and public offerings of high-yield and investment grade securities, and equity, often with a focus on Scandinavia. He co-led the team advising Nordea and JPMorgan in connection with Outokumpu's EUR1 billion rights offering.

Sources note that Richard Trobman has "a great deal of experience, a very professional manner and very constructive attitude." He is co-chair of the firm's corporate department in London, and concentrates largely on the high-yield market, in which he is highly regarded. He was the lead partner on the Perstorp matter mentioned above.

Olof Clausson "has great technical understanding of the law and fantastic experience," which sources greatly appreciate. He is an ECM specialist with a particularly strong Scandinavian practice. He recently acted for UBS and JPMorgan with regard to the EUR1.45 billion flotation of Telefonica Deutschland Holding on the Frankfurt Stock Exchange.  

Jennifer Engelhardt offers substantial experience in the high-yield market. Sources describe her as "an incredible lawyer."

Scott Colwell is "the up-and-coming name in high yield" according to commentators. He advised on Altice Financing's USD1.1 billion high-yield bond offering, on behalf of HSBC, Morgan Stanley and Goldman Sachs.

Interviewees find Claire Keast-Butler "very approachable, easy to talk to and very good on the technical side of things." She was part of the team advising the underwriting banks on Lonmin's USD800 million rights issue.

Significant clients Goldman Sachs International, HSBC, Société Générale, Credit Suisse, Unicredit Bank.

Basic facts about the department
 - 28 partners 
 - 131 associates

What the team is known for Widely recognised as a market leader in both DCM and ECM, frequently acting on some of the most cutting-edge deals in the market. Currently active advising on sovereign debt deals for countries such as Serbia, Montenegro and Slovenia, and also recommended for its in-depth knowledge of the Russian market. Equity expertise covers international IPOs, block trades and rights issues.

Strengths (Quotes mainly from clients)
Bench strength: "The partners are always present and available but you know you can also rely completely on the associates."

International capability: "They're extremely strong in Russia. They really have the expertise and knowledge in the emerging markets space there."

Technical ability: "They get the mix right across the board, a good MTN practice and a good emerging markets practice."  

Work highlights Advised HSBC and Deutsche Bank in connection with a EUR206 billion liability management transaction relating to bonds issued or guaranteed by the Hellenic Republic. 

Acted for Turkish oil refiner Tupras, with regard to its USD700 million corporate bond issuance. The bonds were listed on the UKLA's Official List. 

Notable practitioners  

Keith Thomson wins praise for "his skill in managing highly sophisticated and complex cases." He has particular expertise advising on equity, debt and equity linked transactions in the European markets, and also offers a wealth of emerging markets experience, including in Thailand, India, Turkey and Indonesia.

Carson Welsh is "extremely strong on the regulatory capital side," according to interviewees. He is experienced across a broad range of capital markets issues and was one of the lead partners advising on the aforementioned Hellenic Republic liability management issue. 

Alexander Naidenov is a US-qualified partner specialising in high-yield debt transactions. He advised Triton in relation to its USD1 billion sale of Dematic, to AEA Investors and Teachers' Private Capita.

Ben Dulieu wins praise for his "broad knowledge base and god-like availability," which sources find incredible. He has significant experience handling DCM and equity-linked transactions.

The "very personable" Elaine Keats is an expert in liability management issues and worked alongside Carson Welsh on the Hellenic Republic matter. Her practice also includes a strong focus on retail bonds.

The "fantastic" Charles Jacobs is highly regarded for his expertise in the mining sector. He acts as head of the firm's global mining team, and handles IPOs, capital raising and other corporate matters for clients in this field.

John Lane is a "very capable, intellectual lawyer" who is "quickly able to come up with smart solutions when a problem arises." He is adept at handling both domestic and international ECM matters, and notably handled the high-profile £2.6 billion Direct Line IPO.

Commentators are keen to praise Jason Manketo's "complete focus and dedication to driving all aspects of a transaction forward." He advised Graff Diamonds in connection with its proposed flotation on the Hong Kong Stock Exchange.

Cecil Quillen largely focuses his practice on handling cross-border high-yield debt offerings, and he has particular experience in the Russian market.

The "terrific" Mark Hageman is "sensible and good to work with," according to interviewees. He is a high-yield specialist and has been instrumental in the growth of the firm's offering in this area.

Patrick Sheil is a US-qualified partner who has notable experience advising on US securities transactions, and has a key focus on Africa and the Middle East.

Significant clients RBS, BNP Paribas, Glencore, Citi, Ophir.

Since publication, Francis Kucera has joined Ashurst

Basic facts about the department
 - 2 partners

What the team is known for Focused on assisting leading issuer and investment bank clients with multi-jurisdictional high-yield bond transactions. Strong experience in advising on transactions taking place in emerging markets as well as significant leveraged finance expertise.

Strengths (Quotes mainly from clients)
Client service: "Able to win confidence through good relationship building and excellent technical expertise."

Technical ability: "Very commercial, very good practitioner skills and good legal skills."

What's new? The group secured a number of important new clients, including AerCap and First Quantum Minerals.

Work highlights Acted on behalf of JPMorgan and others, with regard to the EUR350 million high-yield bond offering by Ruetgers.

Notable practitioners  

Interviewees note that Peter Schwartz is "just an incredible all-round excellent lawyer, who is devoted to his clients, and always available."

Significant clients Virgin Media, Park Square Capital, Goldman PIA, SNF Floerger, AerCap.

Basic facts about the department
- 51 partners
- 93 other qualified lawyers

What the team is known for Noted for its skill advising on ECM transactions, especially involving the mining, natural resources and energy sectors. Also advises clients on DCM matters, such as liability management, corporate issuances and Islamic finance transactions. Maintains a particularly strong presence in Canadian DCM matters. 

Strengths (Quotes mainly from clients)
Technical ability: "They're very diligent and very helpful. It's a good work product coming out of Norton Rose Fulbright."

Work highlights Represented Starwood Capital in relation to the £350 million IPO of its European debt fund.

Advised Workspace Group in connection with its £57.5 million retail bond issuance.

Notable practitioners  

Tak Matsuda offers experience across the full spectrum of DCM transactions, including project bonds and equity linked products. He recently advised on the issuance of a £57.5 million retail bond by client Workspace Group.

The "very pragmatic" Simon Cox is an ECM specialist who largely concentrates on emerging markets transactions, which often involve the energy and mining sectors. He has particular experience in matters concerning Mongolia and Kazakhstan.

Significant clients Aureus Mining, Société Générale, Royal Bank of Canada, Peel Hunt, Kenmare Resources.

Basic facts about the department
 - 3 partners 
 - 5 associates

What the team is known for Serves as counsel to leading bond issuers, such as Liberty Global, ensuring that it remains involved in some of the most innovative high-yield transactions in the market. Operates as an integrated part of the firm's finance group, providing a comprehensive combined service to clients on high-profile deals. 

Strengths (Quotes mainly from clients)
Commercial Awareness: "They are extremely diligent and disciplined when advising on legal matters. They're incredibly commercial and they have a good ability to step out of the legal analysis and give a view on what the important commercial points are."

Work highlights Acted for UPCB Finance VI with regard to its USD750 million high-yield debt offering. The firm advised on both UK and US law elements of the transaction.

Advised Liberty Global in connection with a EUR3.1 billion offer, made by its subsidiary Unitymedia, to exchange Kabel BW issued bonds for Unitymedia bonds.  

Notable practitioners  

According to sources Jonathan Bloom is "extremely energetic and has a very good finger on the pulse of what's happening in the market." He has a strong track record representing asset managers and hedge funds, on high-yield offerings and other corporate finance transactions. 

Significant clients BlackRock, Liberty Global, Vision Capital, Bite Finance, GoldenTree Asset Management.

Since publication, Jonathan A. Bloom has joined Jones Day

Basic facts about the department
 - 7 partners 
 - 17 other qualified lawyers 

What the team is known for Offers particular strength in DCM and high-yield debt, advising on complex transactions for a range of issuers, underwriters and sponsors. Provides combined UK and US capabilities, with notable skill advising on Yankee bonds. Substantial international expertise spanning a range of jurisdictions including South Africa, Greece and Spain. Also houses a notable ECM practice in London.

Strengths (Quotes mainly from clients)
Commercial awareness: "We get excellent service from them, they're very responsive, tend to not just to give the legalistic answer but legal advice that's informed by business realities - quite commercially oriented."

Market knowledge: "They're very experienced, take a very professional approach and have a great knowledge of market precedent."

What's new? The group was appointed to the global legal panel of Société Générale, and also received instructions from new client Anglo American.  

Work highlights Acted on behalf of Sasol, in connection with the issuance of its USD1 billion inaugural US bond. Sasol is an integrated chemical and energy company based in Johannesburg.

Advised Nokia with regard to its EUR750 million convertible bond offering, one of only a few Nordic equity linked transactions to have taken place recently.

Notable practitioners  

Apostolos Gkoutzinis is "very responsive and enthusiastic, with good commercial and legal insights" according to sources. His practice includes a concentration on high-yield matters, and of late he advised a collection of banks as joint bookrunners in First Quantum Minerals' USD350 million bond issuance.

Jacques McChesney is well known and highly regarded in the market as a "talented" high-yield specialist. He advised paper manufacturer Lecta, in relation to a refinancing and reorganisation that included the issuance of a EUR390 million high-yield bond.

The "talented" Richard Price is head of European capital markets at the firm, and is adept at handling both ECM and DCM matters. He has extensive experience in South Africa, and led the team on the aforementioned matter for Sasol.

Significant clients Ardagh Group, Advent International, Sasol, Anglo American, Schneider Electric.

Basic facts about the department
 - 5 partners 
 - 1 counsel 
 - 7 associates 

What the team is known for Broad geographical footprint, and is able to offer in-depth knowledge of the US market to assist financial institution clients carrying out US offerings. Strong presence in the DCM space and increasing involvement in substantial restructuring projects. 

Work highlights Acted for a Credit Suisse-led syndicate of banks in connection with their role as underwriters to Obrascon Huarte Lain's EUR300 million senior notes issuance.

Advised on the English law aspects of The Hellenic Republic's EUR65 million sovereign debt restructuring on behalf of bond trustee the Wilmington Trust.

Notable practitioners  

Mark Walsh wins praise from sources for his "broad perspective and very good grasp of the changing capital rules." His broad capital markets experience encompasses equity, debt and equity linked transactions.

Interviewees really appreciate the solid advice that head of department Stephen Roith offers, and regard him as a strong practitioner. He has notable emerging markets expertise, and offers particular experience of Kazakhstan transactions.

David Howe regularly handles a variety of DCM transactions for a client base of issuers, trustees and arrangers. He advised GlaxoSmithKline on the update of its £15 billion EMTN programme.

Significant clients KBC Bank, GlaxoSmithKline, JSC Astana Finance, Morgan Stanley, Credit Suisse.

Basic facts about the department
 - 22 partners 
 - 28 associates

What the team is known for Maintains a solid ECM practice, with experience advising on a broad range of issues, including IPOs, block trades, secondary offerings and private placements. Also provides integrated US securities capacity, and is adept at handling offerings across multiple jurisdictions. Strong DCM offering, with significant skill assisting with EMTN programmes and liability management matters.

Work highlights Acted for JPMorgan in connection with its role as arranger to JPMorgan Chase & Co's USD65 million LSE-listed EMTN programme. Also advised on the issuance of EUR1.5 billion notes under the programme.

Advised sole bookrunner Bank of America Merrill Lynch in relation to JAB Holdings' £1.2 billion placing in Reckitt Benckiser Group.  

Notable practitioners  

Head of the firm's ECM group Christopher Horton offers extensive expertise advising on cross-border transactions, especially those with an emerging markets element. He has recently focused on matters involving the natural resources and real estate sectors.

Charles Hawes is an expert on US securities law, and regularly advises non-US issuers. He offers in-depth experience acting as arranger's counsel on EMTN programmes, and recently advised JPMorgan on the aforementioned notes issuance.

Significant clients Liberum, Rothschild, Macquarie Capital, Numis Securities, JPMorgan Cazenove.

Basic facts about the department
 - 4 partners 
 - 16 associates

What the team is known for Continues to be one of the few firms in the London market that is considered to be a solid choice for complex high-yield debt transactions. Maintains a well-balanced practice acting on behalf of underwriters and issuers. Benefits substantially from working alongside the firm's top-tier banking practice.

Work highlights Acted as US counsel to German insurer Talanx, with regard to the company's EUR517 million IPO. The shares were offered in Luxembourg and Germany, with a simultaneous Rule 144a and Regulation S offering.

Advised Stork Technical Services in connection its EUR272.5 million offering of high-yield debt. Also assisted with its entry into a EUR100 million super senior revolving credit facility.

Notable practitioners  

Sources describe Nicholas Shaw as an "unbelievably talented high-yield lawyer." He advises banking and private equity clients on a range of high-yield transactions, including bridge loans, loans and financings. He recently assisted Stork Technical Services with its EUR272.5 million high-yield offering. 

Managing partner of the London office, Gregory Conway largely concentrates his practice on corporate finance and M&A transactions on an international level. He frequently advises purchasers, banks and underwriters, and was the lead partner on the Talanx IPO mentioned above. 

Significant clients Kabel Deutschland Verrieb und Service, Lowell Group Financing, UBS, NXP Semiconductors, BNP Paribas.

Basic facts about the department
 - 8 partners 
 - 2 counsel 
 - 20 associates

What the team is known for Strong expertise in both debt and equity matters, with substantial experience of handling rights offerings, IPOs, private placements and hybrid securities offerings for corporates, investment banks and governments. Also maintains visibility in the high-yield market, acting on a number of key deals.  

Work highlights Advised TMF Group in relation to its EUR580 million high-yield bond issuance. This also involved entrance into a EUR70 million super senior revolving credit facility agreement.

Acted on behalf of Brunswick Rail with regard to the admission to trading of its debut USD600 million Eurobond on the London Stock Exchange.

Notable practitioners  

Sources enjoy working with the "very helpful" James Healy who heads up the English law side of the firm's European corporate finance group. He has notable experience in multiple jurisdictions, including Portugal, Egypt and Italy.

Danny Tricot advised SCOR SE in connection with its CHF250 million debt issuance. His broad experience covers the full range of capital markets matters, including issuances of both debt and equity.

Pranav Trivedi is recognised for his expertise in the Russian market, and of recent note he advised Russian company Brunswick Rail on the issuance of its USD600 million debut Eurobond on the LSE. 

Significant clients ASML, Algeta, Doughty Hanson, Banco Comercial Português, Bank of America.

What the team is known for Handles large, complex ECM and DCM transactions for an impressive corporate client base. Provides expertise across a broad range of matters, including repackagings, debt programmes, IPOs and secondary fundraisings. Also noted for its skill in handling projects spanning multiple jurisdictions. 

Strengths (Quotes mainly from clients)
Responsiveness: "I can just ring them up and they come back to me very quickly with a plan of action and preliminary thoughts."

Client service: "Professional, extremely hard working and flexible."  

Work highlights Acted for Westpac with regard to the establishment of a USD20 billion covered bond programme. Also advised on the addition of an N-bond issuance feature, a programme update and an issuance.

Advised Direct Line Insurance Group in connection with its separation from the RBS group, and its £2.65 billion IPO.

Notable practitioners  

Head of the DCM practice Marc Hutchinson has wide-ranging experience acting for arrangers, lenders and borrowers in international transactions. He led the team on the aforementioned matters for Westpac.

Christopher Saul enjoys a strong reputation in the market, and sources agree that he is a "very capable lawyer." He offers a wealth of transactional experience that covers corporate, securities and private equity law.

Significant clients Drax Group, JPMC, Prudential, Ocado, Tangent Communications.

Basic facts about the department
 - 13 partners 
 - 39 associates

What the team is known for Offers integrated UK and US capabilities within a flexible team of practitioners with experience across the full spectrum of both debt and equity transactions. Provides substantial international coverage, frequently working closely with colleagues in overseas offices, with particular expertise in the Benelux countries, southern Europe and Africa, among others. Acts for a diverse mix of underwriter and issuer clients.  

Strengths (Quotes mainly from clients)
Commercial awareness: "I think the service is excellent - often their institutional knowledge is better than our own. It's the combination of a high level of technical expertise combined with really fantastic pragmatic advice."

Client service: "The service is excellent, it's very good, they're very thorough, always available, they're very knowledgeable about the subject matter and give good practical advice."

Work highlights Acted for bottling company Coca-Cola Hellenic in connection with its listing on the LSE, as well as its re-domicile to Switzerland. The group advised on both UK and US law aspects of the matter.

Advised Italian insurance company Unipol with regard to its EUR1.1 billion rights offering.

Notable practitioners  

Vanessa Blackmore is a key contact.

Significant clients BP, Diageo, Coca-Cola Hellenic Bottling, Anheuser-Busch InBev, Philips, Fiat.

Basic facts about the department
 - 8 partners 
 - 8 associates

What the team is known for Operates as part of a truly global capital markets practice, utilising the firm's impressive international network and offering UK and US specialists based in the London office. Particularly recognised for its ECM capabilities, acting on large-scale IPOs and fundraisings in various jurisdictions. Also provides advice on high-yield debt transactions, and recently demonstrated its flexibility advising on a variety of dual track financings.  

Strengths (Quotes mainly from clients)
Responsiveness: "They're able to react quickly and understand complex matters." 

What's new? Added strength to its high-yield debt expertise with the recruitment of former Freshfields Bruckhaus Deringer partner Gil Strauss. He has a wealth of experience in the field and is well thought of in the market.  

Work highlights Acted for the Edwards Group in connection with its USD100 million NASDAQ IPO. This followed a restructuring of the group in order to put a Cayman holding company at the top of its structure.

Advised CEZ with regards to an update of its EUR8 billion EMTN programme.

Notable practitioners  

ECM specialist Peter King receives plaudits for being "very client-friendly, very accessible" and able "to cut through complicated situations." He led the team advising the Edwards Group on its restructuring and subsequent USD100 million listing on New York's NASDAQ. 

Gil Strauss is a US securities lawyer who offers extensive experience advising on transactions involving high-yield debt. Sources agree that his arrival gives a significant boost to the firm's offering in this area.

Significant clients Centerbridge, Lehman, PKO, Eton Park, Fore Research.

Basic facts about the department
 - 17 practitioners 
 - 3 counsel 
 - 42 associates

What the team is known for Remains highly regarded for its extensive experience in emerging markets, especially advising on sovereign debt deals, and has also developed significant strengths in Germany, Italy and the Nordic Region. Increased presence in ECM as evidenced by its involvement in a number of high-end IPOs in recent times. Draws upon its international network to handle high-yield work across the emerging markets, including Africa and the CIS.  

Strengths (Quotes mainly from clients)
Commercial awareness: "It's their commerciality that for us is really helpful. They have a good way of doing it and keeping everybody happy."

International capability: "They're strong on emerging markets."

Work highlights Advised five banks, including Citi and Barclays, in their capacity as joint bookrunners in Nokia's issuance of EUR750 million senior unsecured convertible bonds.

Acted on behalf of telecoms and network provider Sonera Holding in connection with its role as a selling shareholder in Megafon's USD1.7 billion IPO. 

Notable practitioners  

Francis Fitzherbert-Brockholes is a UK and US dual-qualified partner who offers a wealth of capital markets expertise. He frequently advises on EMTN programmes, debt and equity offerings, and securitisations across the USA, Asia and Europe.

Andrew Weiler "is an experienced lawyer, who is very up to date with what is going on in the markets and works extremely hard." He is highly experienced in handling US private placements."

Joshua Kiernan is recommended for his expertise in the Middle East, and particularly Israel. Sources highlight his pragmatic approach, as well as the fact that he is well connected in the industry.

Ian Clark is also a US private placement specialist. He has substantial experience advising issuers across a range of jurisdictions, including India, Turkey, Ukraine and Russia. Interviewees note that he is a "terrific lawyer."

Stuart Matty wins praise for being "extremely pragmatic, good at getting deals done and giving good advice." He advised the Republic of Zambia in connection with the issuance of its debut US dollar bond, which raised USD750 million.  

Melissa Butler "is extremely good, sensible and extremely proactive in raising risk concerns." Sources also particularly highlight her "in-depth understanding of disclosure and drafting and in-depth knowledge of English law and Eurobonds."

Commentators note that Allan Taylor is "very commercial, very client-focused, very responsive and super hard-working." His experience includes advising on IPOs and dual-listings for underwriters and issuers.

Significant clients Svenska Handelsbanken, Kaupthing Bank, Republic of Italy, JSC BTA Bank, TNK-BP.

Other Ranked Lawyers 其他上榜律师

Christopher McFadzean of Dorsey & Whitney specialises in capital markets and M&A transactions on an international level, often advising clients in India, Turkey and Africa, as well as the UK. Commentators admire his broad experience and his solid advice.

Eero Rautalahti of Edwards Wildman Palmer UK LLP receives praise for providing a "very straightforward service, answering questions quickly and acting efficiently." He has experience of advising on debt and equity offerings in multiple jurisdictions.

Andrew Caunt of Greenberg Traurig Maher LLP is described as "very agreeable, very personable" as well as "very pragmatic and very user-friendly." He is an ECM specialist with notable emerging markets expertise.

Drew Salvest of Jones Day wins plaudits for being "incredibly pragmatic, sensible and focused." He provides advice on a broad range of securities products for financial institutions, corporates and sovereigns in North Africa, Europe and Asia. 

Brian Bates of Morrison & Foerster (UK) LLP is "a very insightful and impressive lawyer," who "understands how to get deals done and how to interact with people." He focuses his practice on advising issuers on overseas private placements.

James Cole of Paul Hastings (Europe) LLP represents underwriters and issuers on equity, debt and equity linked capital raisings. He has significant cross-border expertise and frequently advises on transactions in Europe and the Middle East.

Mark Bergman of Paul, Weiss, Rifkind, Wharton & Garrison has impressed sources with his high level of client service and responsiveness in both ECM and DCM matters. He is "very creative and imaginative in terms of finding structures to help accomplish what clients would like to accomplish." 

Tamara Box of Reed Smith LLP is noted for her DCM expertise. She is a "very well-respected and highly accomplished lawyer with a strong client following," according to sources, who also appreciate that she is always available and very responsive.

Foreign Experts

Foreign Experts are individuals with expertise in a different jurisdiction to the one they are based in. These individuals are particularly highly regarded for international and cross-border work. Usually, they will be identified in the jurisdiction in which they are based and in their country of expertise.

Senior Statesman

A 'Senior Statesman' is a lawyer who no longer works hands-on with the same intensity but who, by virtue of close links with major clients, remains pivotal to the firm’s success.

Eminent Practitioners

'Eminent Practitioners' are highly influential lawyers in a particular practice area who, due to managerial or client relationship commitments, are less active in day-to-day work but remain key players in the team.

Other Noted Practitioners

Other Noted Practitioners are individuals who have not yet been ranked but are seen to be active and accomplished in this area of law.

Other Noted Firms

Other Noted Firms are firms that have not yet been ranked but are seen to be active and accomplished in this area of law.