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107 Cheapside, London, EC2V 6DN
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The lowdown (in their own words...)Why did you choose this firm over any others? 'Big-ticket work, big international network, small London office'; 'impressed by the people working at the firm - very friendly, open, charismatic and with excellent sense of humour'; 'at the forefront of financial developments'; 'ambitious expansion plans' How does your training compare with peers' at other firms? 'More responsibility and more client contact. The flip-side is the firm expects a lot from you even at a very junior level'; 'consistently high standards and generally we're more on the frontline'; 'weekly compulsory training sessions relevant to our practice areas and excellent transactional experience' Best thing about the firm? 'The people'; 'the atmosphere of quiet confidence. The quality of the work that I get to do'; 'people are very supportive and genuinely dedicated to teaching and training to make you a good lawyer'; 'supervisors encourage a decent work/life balance'; 'good people, good atmosphere, good relationships' Worst thing about the firm? 'Being on 34th floor! Takes about ten minutes to get to the bottom, so a quick coffee is not so quick any more'; 'different methods and expectations between departments'; 'procedure and decision-making re. offer of qualified positions is opaque and often last minute'; 'being an offshore office means that you can get overlooked for perks' Best moment? 'Working on the administration of Lehman Brothers'; 'closing a multi-million cross-border deal at 7am, having worked for 30 hours non-stop'; 'travelling abroad'; 'working on some very high-profile cases (and reading about them in the papers!)'; 'the satisfaction of being involved in the closing of a deal and being part of a fantastic team'; 'case in the Privy Council' Worst moment? 'Feeling overwhelmed when I had my first busy spell'; 'working late under severe pressure. On the positive side, has only happened once!'; 'finding out that I had to save a deal by midnight of the day I was told and it was already 9pm'; 'coming up to qualification during the worst recession in years' The firmOrrick, Herrington & Sutcliffe took on much of Heller Ehrman's 'impressive' London venture capital team in 2008, including partners Richard Eaton, Chris Grew and Struan Penwarden. 'Top-rate' London M&A capability has also grown fast in the last two years and clients can now call on the skills of five UK-qualified and three US-qualified partners. The London team's expertise spans insolvency, finance and M&A. The star performersBanking lending; Commercial property; Derivatives; Electricity, nuclear and renewables; EU and competition; Flotations (small and mid cap); M&A (lower mid market £50m-£250m); Property finance; Property litigation; Securitisation; Social housing. The dealsAdvised senior lenders on $450m Lekki Toll Road project, the first project financed real toll road project in sub-Saharan Africa; advised on $120m loan facility for mining operation in Yemen; advised JP Morgan on a series of securitisations; advised on a €2.8bn five-year CDS; advised RSL client Housing Solution on s106 acquisitions; advised on €428m European facility agreement. The clientsArts Alliance Media; Bressemer Venture; Capital Shopping Centres; Deutsche Bank; Matterhorn Capital; Nomura; Notting Hill Housing Group; Telenor ASA. The money(from Legal Business magazine) Turnover in 2008: $772m (+16% from 2007) Profits per equity partner: $1,522,000 (+9%) Highly commended Management partner of the year (David Syed) and US law firm of the year. The Lex 100 verdictIf finance is your thing and the prospect of 'working on the administration of Lehman Brothers' sets your pulse racing, check out US powerhouse Orrick. Current trainees love the 'fact that you work for an international firm with the quality of work and high-profile clients which that brings but in a small office environment'. This results, they say, in 'individual attention to trainee development', plus an 'open and friendly atmosphere'. Blue-chip clients and big-ticket work are the order of the day and you can expect responsibility and considerable client contact. Be warned, however: 'the flip-side is that the firm expects a lot from you even at a very junior level'. From time to time nerves of steel and stamina are required, whether through 'finding out that I had to save a deal by midnight and it was already 9pm' or 'being swamped with post-completion work relating to a number of transactions in my first week'. Perhaps unsurprisingly, 'unpredictable hours' are a common complaint. On the training front Orrick combines 'excellent transactional hands-on experience' with 'regular training, weekly trainee sessions, with the topic varying from week to week'. Experiences range from 'being heavily involved in a high profile company sale, interacting with regulation authorities' to being 'at the forefront of financial developments'. You'll have the opportunity to run your own files, 'but there's always someone to help so you never feel adrift'.In general, however, trainees here are very satisfied - 'I seem to be much happier then my friends and enjoy my training contract a lot!' You can't argue with that. A day in the life of..... Stephen Cope first-year trainee, Orrick, Herrington & Sutcliffe University: Reading Departments to date: Finance, real estate Degree and class: Law 2(1) 9.00am: I arrive at the office in good time. I tend to check my emails on my Blackberry on the way into work, as it enables me to plan for the day ahead and start the day more effectively. The morning post is waiting for me, containing a mixture of Land Registry letters and signed documents from the client. Trainees manage a number of files in real estate and are given transactional exposure ranging from small lettings to property management matters. For the past week, I have been dealing with a surrender of a lease of a retail unit. I am in possession of the signed engrossments and I am waiting for the tenant to pay the premium. Hopefully, this should be paid during the course of the day and the surrender can be completed. 9.30am: Having checked my file list of matters that I am currently working on, I make a few phone calls to tenant's solicitors to check up on the status of the documents that have been sent out. 10.00am: I receive an email from a tenant's solicitor saying that they are ready to complete a lease. I review the file and ensure that everything is in order, before I phone the tenant's solicitor to complete. I then focus on the various tasks that arise from completion.11.45am: I have been asked to draft a warning notice and statutory declaration to accompany an engrossed lease, which is due to be sent out by the end of today, so I prepare these documents before submitting it to an associate to review. 12.30pm: My Outlook calendar flashes up a message that training is due to start in five minutes, so I quickly finish the email that I was writing and scurry upstairs. Orrick provides weekly training sessions, which are usually taken by a partner and lunch is provided. This week's session is on venture capital and proves to be interesting. The training is relatively informal and trainees are encouraged to participate in the discussions. 1.30pm: I return to my desk to find an email from our accounts department confirming that the surrender premium has been paid into our client account by the tenant. I notify our client and perform the relevant pre-completion checks, before proceeding to complete the surrender. I then turn my attention to post-completion matters, which include cancelling a notice of the tenant's lease on our client's freehold title.3.30pm: I receive back an amended Assured Shorthold Tenancy Agreement, which I submitted to a partner for review the previous day. I make the changes, before preparing engrossments and arranging for the documents to be sent out for signing.5.00pm: I am asked by an associate to research whether Energy Performance Certificates are required on lease renewals. The deadline is for the end of the week, but I decide to make a start on it, just in case tomorrow proves to be hectic.6.30pm: A games evening has been arranged, and so I make my way upstairs to find one of the conference rooms transformed into a games room, complete with two table tennis tables, a table football table, and a Nintendo Wii. Food and drink have been provided, and so I get stuck into a highly competitive table football match, with a beer and a slice of pizza close to hand. End of month drinks are well attended at Orrick and it is a great chance to catch up with everyone. They tend to run on late and I just manage to catch the last tube home. About the firm Address: 107 Cheapside, London, EC2V 6DN Telephone: 020 7862 4600 Fax: 020 7628 0078 Email:
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Managing partner: Martin Bartlam
Total partners: 24 Other fee-earners:33 Total trainees :17
Other offices: Beijing, Berlin, Dusseldorf, Frankfurt, Hong Kong, Los Angeles, Milan, Moscow, New York, Orange County, Pacific Northwest, Paris, Rome, Sacramento, San Francisco, Shanghai, Silicon Valley, Taipei, Tokyo and Washington DC. Who we are: Orrick is one of the world's leading international law firms with more than 1,000 lawyers in 21 offices located throughout the Asia, Europe and North America. What we do: Orrick has earned a global reputation advising both established and emerging companies, banks and international financial institutions. The London office has more than 50 lawyers handling corporate, competition, employment, finance, litigation, real estate and restructuring matters. What we are looking for: Individuals who set their standards high, have a strong work ethic and are a bright, talented graduate of any discipline. Applicants should have at least three A level passes at grades A and B and a 2(1) degree. What you will do: Our two-year training programme comprises four six-month seats, with the opportunity to sit a seat in our Hong Kong office. We will support your learning through a steadfast focus on training and mentoring, which will provide you with the right foundation for building your career. There are regular training sessions and we draw on a range of speakers, including in-house experts, clients and specialist professionals in their fields, to provide an extensive and varied programme. Perks: 25 days' holiday, pension, life assurance, private health insurance, dental plan, subsidised gym membership, season ticket loan, childcare voucher scheme. Sponsorship: GDL and LPC - fees paid plus £7,000 maintenance. Application processApply to: Simon Cockshutt, training principal. How to apply: Apply online at www.orrick.com/london/gradrecruitment. When to Apply: By 31 July 2010 for September 2012. What is involved: Two interviews with partners. Facts and figuresTrainee places available for 2012 7-9 Applications received pa 600 Percentage interviewed 10% SalaryFirst year £38,000 (rate for 2008) Second year £42,500 (rate for 2008) |