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Debevoise & Plimpton LLP 
Tower 42 Old Broad Street London EC2N 1HQ
Lex 100 winner
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The trainee verdict

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The lowdown (in their own words...)

Why did you choose this firm over any others? 'Good reputation for litigation and private equity work'; 'good pay'; 'opportunity of a seat abroad'; 'I really enjoyed the vacation scheme'; 'great name, great pay and great atmosphere'; 'international dimension to work'; 'culture and sophistication'; 'fantastic pay'; 'the quality of their vacation scheme' 

How does your training compare with peers' at other firms? 'Smaller intake of trainees'; 'higher quality of work'; 'hours are not as long'; 'more substantive involvement in the lawyerly aspect of the work'; 'trainees are treated like associates and given a high level of responsibility'; 'greater autonomy'; 'lawyers are happy to involve trainees as much as possible, and to take time out to explain matters and to help trainees improve' 

Best thing about the firm? 'Variety of work and the people'; 'the people: intelligent, motivated, friendly with a great sense of humour'; 'the highly international nature of the work'; 'good hours'; 'the atmosphere is incredibly civilised'; 'the spectacular views from the office'; 'supervisors have been superb, charismatic and supportive' 

Worst thing about the firm? 'Occasional late hours and the odd dull task'; 'unpredictable hours'; 'few trainees so the social life is not as young and cheery as it could be'; 'occasional very stressful periods when struggling to hit deadlines'; 'lack of a canteen or other social area'; 'the coffee could be better' 

Best moment? 'Attending a trial overseas'; 'attending heated without prejudice settlement meetings'; 'flying to New York to assist on a large closing'; 'attending a closing meeting in Cyprus'; 'visiting the Farnborough Air Show'; 'assisting at the negotiation of an aviation finance lease meeting with a colleague' 

Worst moment? 'Working till midnight on my birthday'; 'working past midnight on eight consecutive days under a lot of time pressure'; 'the first day was quite daunting!' 

The Lex 100 verdict

The firm

US firm Debevoise & Plimpton's London office is part of an integrated European practice of over 180 lawyers. The firm excels in cross-border deals and finance work, and its expertise spans all manner of transactions, from private funds work, particularly private equity, to infrastructure and real estate. Dispute resolution is another strength: the firm has made significant inroads into London's arbitration scene. 

The star performers

Acquisition finance; Arbitration; Corporate tax; Dispute resolution; Emerging markets; Equity capital markets: US capability; Finance; Insurance: corporate and regulatory; Investment funds; Mergers and acquisitions; Private equity.

The deals

Advised the defendant in proceedings initiated by the Government of Belize to impose an anti-arbitration injunction preventing the defendant from pursuing an investment treaty arbitration under the UK-Belize BIT; acted for Deutsche Bank on establishing its next-generation secondaries opportunity fund; advised KazakhGold Group in a $100m private placement to international investors; led on the merger of Russian potash companies Uralkali and Silvinit, in a $23.9bn deal.

The clients

Clayton, Dubilier & Rice; American International Group; KazakhGold Group; Doughty Hanson; Park Square; Helios Investment Partners.

The Verdict

US firm Debevoise & Plimpton is highly regarded for its litigation and corporate work and wins over trainees with its 'great name, great pay and great atmosphere'. The vacation scheme continues to be a hit with the added attraction that the firm only recruits a small intake every year guaranteeing 'much more exposure to high-quality work'. Trainees comment on the 'international dimension' to much of the work meaning that 'flying to New York to assist on a large closing' is a very real possibility whilst still 'working within a firm that really feels like a team'. Training is 'not as established as at other larger firms' but current trainees feel that they 'gain experience from real work' and have 'greater autonomy'. 'Assisting at the negotiation of an aviation finance lease meeting' and 'attending heated without prejudice settlement meetings' are just a couple of examples of the recent experiences at the firm. Complaints this year tend to revolve around the unpredictable hours and stressful periods around closings. However, that said the firm is aLex 100 Winner is an impressive five categories this year - job satisfaction, living up to expectations, quality of work, friendliness ('the people: intelligent, motivated, friendly and have a great sense of humour') and confidence of being kept on. It also scores well in the social life category. One of the top-scoring US firms in this edition, Debevoise & Plimpton is described by one of its current trainees as 'cultured and sophisticated'. If you also have these attributes and are looking for a hands-on training contract at a high-profile, interesting firm it could be a great fit.

A day in the life of.....

A day in the life of.....

Warren BalakrishnanWarren Balakrishnan, trainee, Debevoise & Plimpton LLP 
Departments to date:  Corporate and tax
University: St John's College, University of Oxford 
Degree: BA Jurisprudence 2(1) 

9.00am: I arrive at the office, having cycled into work. I shower and by 9.30am I am at my desk reviewing my tasks for the day ahead. I am sitting in the firm's tax department but I am also working on a corporate M&A deal that I was involved in towards the end of my previous corporate seat.

10.00am: The deal concerns the proposed acquisition of an insurer by one of our US clients. The partner who is leading the deal asks me for my assistance with the completion and submission of regulatory filings to the Office of Fair Trading (OFT) and to the Financial Services Authority (FSA). Details of the proposed acquisition are highly confidential as this is governed by the City Code on Takeovers and Mergers. Both the OFT and FSA filings are extremely complex and require a great deal of client input.

11.00am: I create a 'steps chart' that allows me to quickly view what parts of the OFT and FSA filings remain outstanding and which parts of the filings require client confirmation. In relation to one specific part, I ask an associate who is familiar with the economics of the transaction for help. The associate spends an hour of his time, guiding me through the possible solutions available for the issue at hand.

12.30pm: Back at my desk I give my secretary the notes of my meeting with the associate for typing. I consider the options discussed and proceed to alter the steps chart as necessary. I draft an email to the client, setting out the information that I require from them, also attaching an example FSA form to give them some context to my request for commercially sensitive information. My secretary emails me the typed notes and, before I send the email to the client, I review my email against my notes to double check that I have requested the correct information.

1.00pm: The firm holds regular training sessions on a wide range of topics. Trainees also present from time to time in areas of law that are of interest to the firm's departments. Today's presentation focuses on using online tools to assist in understanding the corporate M&A landscape.

2.15pm: I catch up with several of the other trainees for a quick lunch.

3.00pm: I receive an email from a colleague in the firm's New York office who would like to schedule a call with me to discuss the timing of US Hart-Scott-Rodino filings with the UK OFT and FSA filings. The call is scheduled for 5.45pm.

3.15pm: The client has emailed through a large number of documents in response to my earlier request. I review the documents and mark them up as required. Both the OFT and the FSA forms require qualitative answers to certain questions and I create first drafts for certain sections on the OFT form.

5.45pm: With my telephone call underway, I discuss with a senior Debevoise lawyer in New York the next steps in the UK filings and see whether we can combine efforts in order to reduce duplication. I am able to update the lawyer on certain aspects of the proposed transaction and she is able to assist me with understanding our client's business structure. At the end of the call, I hand over my notes to the evening secretary for typing so that I can have a file-note of the meeting for future reference. Afterwards, I continue drafting responses to the questions posed in the regulatory filings.

7.00pm: Tonight, one of the associates has announced that the office will be hosting evening drinks at a nearby bar and restaurant. After completing my work for the day, I join my colleagues for a catch up and a couple of drinks.

About the firm

About the firm

Address: Tower 42, Old Broad Street, London EC2N 1HQ

Telephone: 020 7786 9000 

Fax: 020 7588 4180

Website: www.debevoise.com

Email:  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Managing partners:  James C Scoville (London), Michael W Blair (firm)

Total partners: 19

Other fee-earners: 65

Total trainees: 9

Other offices: New York, Washington DC, Paris, Frankfurt, Moscow, Hong Kong, Shanghai. 

Who we are:  Debevoise is a leading international law firm. The London office works on many of the highest-profile and most complex transactions in Europe and worldwide. We do this by virtue of our English and New York law expertise and our close integration with our other offices. 

What we do: In developing our practice in London, we have sought to replicate the core strengths of our practice worldwide. Our focus is on cross-border M&A, private equity, insurance, capital markets, finance and restructuring, tax and dispute resolution. 

What we are looking for: Students whose personal qualities, academic records and other achievements demonstrate exceptional ability, motivation and potential growth. Applicants will make a significant contribution to our firm and thrive in our unique culture. We look for an ability to listen actively, think creatively and interact successfully. We also look for maturity and leadership qualities. 

What you'll do:  One of our basic principles is that each of our associates should become a 'well-rounded' lawyer - an effective counsellor, adviser and advocate - who can combine legal knowledge with the ability to deal with a range of situations. Trainees develop their skills through formal training and on-the-job experience. The two years are split into four six-month seats with an opportunity to gain experience in at least three distinct areas of law.

Perks: Healthcare, dental, season ticket loan, bonus, life assurance. 

Sponsorship: Full tuition fees are paid for GDL and LPC, together with a maintenance grant of £8,000 per year. 

Application process

Apply to:  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . 

How: Application form on website from 1 May 2012. 

When to Apply: By 31 July 2012 for September 2014. 

What is involved: Interview and attendance on our summer placement scheme (preferred). 

Facts and figures

Trainee places available for 2014: 4-6 

Applications received pa: 300+ 

Percentage interviewed: 10% 

Salary

First year: £40,000 

Second year: £45,000 

Newly qualified: £94,250 

Vacation schemes

Summer: June-August 2012 (apply between 1-29 February 2012).