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Tower 42 Old Broad Street London EC2N 1HQ 
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The lowdown (in their own words...)Why did you choose this firm over any others? 'Great reputation, great pay'; 'the best interview procedure by far; even senior partners went out of their way to make you feel like you were really wanted'; 'having done a vacation scheme, I was immediately taken by how friendly, genuine and intelligent everyone here seemed, as well as the quality and scope of work' How does your training compare with peers' at other firms? 'Given far more responsibility and higher calibre work than friends at Magic Circle firms'; 'I rarely feel that I'm doing anything without a sense of how it fits into the larger picture. That said, we have fewer structured training events'; 'more opportunities to use foreign languages' Best thing about the firm? 'Quality of work and the high level of respect with which everyone is treated'; 'working atmosphere comprises a perfect blend of friendliness and professionalism. That and the knowledge of working for one of the world's most respected and profitable law firms'; 'it recognises that the job asks a lot of us and rewards us accordingly' Worst thing about the firm? 'Due to the small number of trainees, the social scene is somewhat lacking'; 'occasional very late nights'; 'times where it would be nice to have more trainees to assist'; 'not quite up to speed yet on the processes that should accompany training contracts, being new to it all'; 'the hours' Best moment? 'Advising pro bono clients face to face'; 'long weekend in New York attending the firm-wide Investment Management Group retreat'; 'working so closely alongside Lord Goldsmith QC and his clients, no matter how important either the work or the client might be, offers such a tremendous opportunity to learn'; 'seat in the Moscow office'; 'meeting colleagues from all offices' Worst moment? 'Leaving work at 7am and needing to be back a couple of hours later (though this has only happened once!)'; 'some tedious administrative work'; 'litigation: document review that lasted two months'; 'having to change personal plans due to work commitments' The firmDebevoise & Plimpton is known best for its superb M&A practice, which spans all manner of transactions. Private equity houses and hedge funds are also a focus and the firm enjoys a good flow of work from Russia and France. The London office also has strength in insurance, litigation and financial services, and recently boosted its dispute resolution capabilities with the addition of former Bird & Bird partner, Sophie Lamb, who joins the heavyweight team headed by former Attorney General Lord Goldsmith QC. The star performersAcquisition finance; Arbitration; Corporate tax; Dispute resolution; Emerging markets; Equity capital markets: US capability; Finance; Insurance: corporate and regulatory; Mergers and acquisitions; Private equity. The dealsAdvised Benfield Group on its acquisition by Aon Corporation; represented Clayton, Dubilier & Rice in £415m multi-jurisdictional acquisition of Bodycote Testing Group; acted for Catlin Group on its £200m rights issue; advised The Carlyle Group in raising its first Middle East and North Africa fund at $500m; advised Air France-KLM on €322m acquisition of a 25% stake in Alitalia. The clientsArgan Capital; Baring Private Equity; Hardy Underwriting Bermuda Ltd; Merrill Lynch Global Private Equity; Oaktree; Providence Equity Partners; Siemens. The money(from Legal Business magazine) Turnover in 2008: $709.5m (+23% from 2007) Profits per equity partner: £2,275,000 (+26%) Highly commended Private Equity team of the year. The Lex 100 verdictDebevoise works hard to create a favourable impression when prospective trainees walk through the door and there is high praise for its vacation scheme and overall interview process. The atmosphere during the open day was enough to convince one trainee, whilst another says of the vac scheme 'I was immediately taken by how friendly, genuine and intelligent everyone seemed, as well as the quality and scope of work'. During the interview process ('very practical and expeditious'), senior partners go 'out of their way to make you feel like you are really wanted'. Once training starts you can expect a practical two years with 'far more responsibility and higher calibre work than friends at Magic Circle firms' but 'fewer structured training events'. There's plenty of chunky transactional work ('occasional very late nights'), plus a high-powered disputes practice where one trainee enjoyed 'working so closely alongside Lord Goldsmith QC and his clients, no matter how important the work or client'. The amount of time spent on familiar trainee tasks such as photocopying and bundling sounds pretty minimal, with trainees encouraged to get involved - 'I rarely feel that I'm doing anything without a sense of how it fits into the larger picture'. Those keen to travel will be interested in seats abroad and linguists take note that the firm offers 'more serious assignments and more opportunities to use foreign languages.' With a small trainee population the social life isn't great, but the firm is a Lex 100 Winner in three categories (friendliness (joint first-placed firm), vacation scheme and confidence of being kept on (joint second-placed firm)) and is also one of the biggest payers - a very attractive combination. A day in the life of..... Richard Gibbon second-year trainee solicitor, Debevoise & Plimpton LLP University: Clare College, Cambridge Departments to date: Private equity, finance, dispute resolution, corporate Degree and class: BA (Hons) Law 9.30am: My day starts with a bowl of cereal at my desk in the firm's corporate department. The day normally starts around this time, unless you are working on a particularly complex deal or up against a tight deadline. I begin typing a memo to my supervisor on the extent to which an investment company listed in London can limit the voting rights of its shareholders. I have already read and highlighted the pertinent listing rules in preparation.11.15am: After reviewing the memo I send it to my supervisor. She calls me into her office to discuss a further question that needs researching. This concerns the steps which need to be taken for a prospectus to be validly 'passported' in to the UK from another EU member state, in order that an issuer can offer securities in a number of jurisdictions without needing to produce duplicate prospectuses. I return to my office and get started straight away.11.45am: I receive an email from Peter Goldsmith (Lord Goldsmith QC), a partner and European chair of litigation, regarding a memo I produced towards the end of my dispute resolution seat on the measure of damages which result from multiple failures to deliver goods in breach of a single contract. He would like me to widen the scope of my initial research. After confirming with my current supervisor that this work takes priority, I make a start on the research. It is always exhilarating to discuss cases with the firm's partners or senior lawyers, and to negotiate or draft alongside them.1.00pm: Today, Jim Scoville, the London managing partner, is giving a presentation on US securities issues. Debevoise regularly organises lunchtime training sessions in one of the conference rooms. Some of these are led by external speakers, while others, as on this occasion, are led by Debevoise lawyers. I have lunch at the presentation and catch up with some of my fellow trainees before returning to my office. 2.00pm: I complete the litigation research and carry on with the work for my supervisor. I quickly complete some of this online, but also need to go to the library. I have worked closely with the firm's library team before and they are often able to assist me with complex research projects. I update my original memo and send this to my supervisor.3.15pm: I receive an email from the Debevoise pro bono co-ordinator asking if I can help out on a particular issue. The firm takes its commitment to pro bono seriously and this offers a broad range of legal work. In the past two years I have advised pro bono clients on all manner of topics. In a case I am currently working on, I am advising a client on how to establish a company with the Charity Commission and the ongoing obligations that charitable companies must discharge.5.30pm: Office drinks have been organised to welcome the new intake of trainees to the firm. Debevoise lawyers are a very sociable bunch and these sorts of events are always enjoyable and well attended.6.10pm: I stick to orange juice as I am joining another trainee and three associates to play in a five-a-side football match with the Debevoise team. We play one match a week in a City league and it proves to be an entertaining way to unwind with your colleagues. About the firm Address: Tower 42, Old Broad Street London EC2N 1HQ Telephone: 020 7786 9000 Fax: 020 7588 4180 Email:
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Managing partners: James C Scoville (London), Martin Frederic Evans (firm)
Total partners: 11 (London), 146 (worldwide)
Other fee-earners:77 (London), 485 (worldwide)
Total trainees :11
Other offices: New York, Washington DC, Paris, Moscow, Frankfurt, 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 will 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 processApply to: London recruitment. How to apply: Application form on website. When to Apply: By 31 July 2010 for September 2012. What is involved: Interview and attendance on our summer placement scheme (preferred). Facts and figuresTrainee places available for 2012 6 Applications received pa 300+ Percentage interviewed 10% SalaryFirst year £40,000 Second year £45,000 Newly qualified £94,250 Placement schemesSummer: June-August 2010 (apply between 1-27 February 2010). |
