Spring seems to have brought out the globetrotting spirit among American law firms, with Cravath, Swaine & Moore, Kirkland & Ellis, Winston & Strawn and Quinn Emanuel Urquhart & Sullivan all announcing plans for ambitious office launches in recent weeks.
The headline investment was Cravath’s commitment to a new office in Washington DC. The move, announced on 6 June, will be seen as something of a coup for the traditionally conservative Wall Street giant, the new outpost becoming just the third in Cravath’s international portfolio. The New York headquarters was established in 1819 and the London office opened in 1973. The Manhattan stalwart also once had a presence in Paris and Hong Kong, although those closed in 1983 and 2003 respectively.
Initially focusing on regulatory issues, the practice will be staffed by three new partner arrivals. Jelena McWilliams, former chair of the Federal Deposit Insurance Corporation, will serve as office managing partner, while Elad Roisman and Jennifer Leete, both of whom will move over from the Securities and Exchange Commission, will join the corporate and litigation departments respectively.
Presiding partner Faiza Saeed said: ‘Our clients face an increasingly complex and active regulatory environment, and our move today enhances our ability to provide the most creative advice in addressing their most challenging matters. With nearly half a century of combined public service, Jelena, Elad and Jennifer will bring exceptional regulatory experience, legal acumen and leadership on critical issues.’
Previously on 19 May, Kirkland and Winston simultaneously announced investments on the East Coast, with commitments to open offices in Miami, Florida.
Kirkland, which became the first firm to pass $6bn in global annual revenue earlier this year, hopes that the new office will give it an even sharper edge in securing the best talent the market has to offer.
Jon Ballis, chair of Kirkland’s executive committee, said: ‘We are excited about the opportunity that Miami offers: a vibrant and growing business community where talent and capital are moving at a rapid pace. Kirkland’s ability to attract, train and retain the best legal talent is key to our continued success, and being present where that talent wants to be is critical.’
Four corporate partners are to relocate to Florida to lead the practice, which will open its doors later this summer. Jeremy Liss, Matthew Arenson and Jeffrey Swatzell will move over from Chicago, while Eduardo Leal is set to swap West Coast for East by relocating from New York.
Liss commented: ‘The Miami office will help us get closer to existing clients in Florida and attract top lawyers who are excited about the career opportunity that Kirkland’s global platform offers. The feedback so far has been very positive, and we are eager to start putting the pieces in place.’
At Winston, the intention is that a Miami presence will help attract clients from fast-growing sectors such as energy, cryptocurrency and financial services. The office will also continue the firm’s push into the Latin American market.
ʻMiami has attracted significant pools of capital from public and private businesses as well as from high-net-worth families and individuals. It is a dynamic financial hub, an epicentre of business.ʼ
Tom Fitzgerald, Winston & Strawn
Winston chair, Tom Fitzgerald, said: ‘Miami has attracted significant pools of capital from public and private businesses as well as from high-net-worth families and individuals. It is a dynamic financial hub, an epicentre of business activity spanning numerous industries, and a critical nexus point for banking and international trade with Latin America and other parts of the world. After careful study of various cities’ legal and business markets, we made a thoughtful, deliberate decision to establish our newest office in Miami.’
Latin America co-chair Talbert Navia added: ‘As supply chain issues continue to drive the need for cross-border trade with Latin America, we are seeing a corresponding need for clarity on a wide range of matters related to regulation, litigation, and capital flows. Miami represents the ideal location from which to address these and other business challenges on behalf of clients across the Americas.’
M&A partner Enrique Martin, a new arrival from Jones Day, is set to act as office managing partner. He will be joined by five other new arrivals to form the initial partnership group.
Finally, noteworthy openings were not limited to the US. In Germany, Quinn Emanuel launched a new office in Berlin. The practice, which will focus on litigation and arbitration in line with the firm’s global model, is to be the fifth outpost of the firm’s network in the country, adding to existing offices in Hamburg, Mannheim, Munich and Stuttgart.
Germany managing partner Marcus Grosch, who is to split his time between Berlin, Mannheim and Munich, said: ‘From our perspective, the recruitment market in Berlin is promising – our goal in the short term is to hire a team of outstanding lawyers. In addition, proximity to our clients has always been an important factor in our choice of location and also plays a major role with regard to Berlin.’