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Broadgate West 9 Appold Street London EC2A 2AP
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The lowdown (in their own words...)Why did you choose this firm over any others? 'Level of international opportunities'; 'the quality of the work'; 'level of responsibility'; 'meritocracy'; 'exposure to headline-making and ground-breaking deals' How does your training compare with peers' at other firms? 'More on-the-job training and less structured'; 'unpredictable in quality'; 'greater level of responsibility'; 'part of a much smaller group of trainees'; 'more relaxed'; 'better training opportunities'; 'lots of responsibility'; 'no needless admin'; 'generally busier'; 'I have been given varying types of work which a lot of my peers at other firms haven't been given'; 'I would say that if you want to do something well then that not only gets quickly recognised here but this is the perfect place to come' Best thing about the firm? 'Excellent dedication to client care and professionalism'; 'everyone is friendly and willing to help'; 'high level of responsibility'; 'the people'; 'great training schedule'; 'trainee supervisors all seem well chosen'; 'open-door policy' Worst thing about the firm? 'Not enough structured training in key areas'; 'often you get pulled into other departments as they are understaffed'; 'unpredictable hours'; 'lack of partner contact'; 'not sitting in on any client calls' Best moment? 'Working on the acquisition of Liverpool FC by New England Sports Ventures'; 'I was given the opportunity to be part of team that undertook a 2-3 week arbitration in Geneva which was amazing experience for me'; 'my seat in New York' Worst moment? 'Proof reading for hours and hours on end'; 'unpredictable hours'; 'lack of partner contact' The firmShearman & Sterling LLP has one of the best-established transactional practices of any US firm in the City, with strong cross-border capability and an extensive US client base. The firm is noted especially for acquisition and project finance, capital markets and M&A, augmented by real estate, financial services and corporate tax capabilities. The star performersAcquisition finance; Arbitration; Commercial property; Corporate tax; Derivatives; EU and competition; Electricity, nuclear and renewables; Employee share schemes; Equity capital markets; Financial services; Futures; Hedge funds; High yield; Investment funds; Mergers and acquisitions; Project finance; Securitisation. The dealsAdvised Advent International on the £670m acquisition of the Priory Group from RBS involving a £600m bond element and £70m super senior revolving credit facility; advising Labco on a €500m bond offering and €125m revolving credit facility; represented furniture group DFS Furniture Holdings on its £240m offering of senior secured notes. The clientsAdvent International; Ardagh Glass Group; Bank of America Merrill Lynch; Barclays Capital; Citigroup; Credit Suisse; HSBC; ICE Clear Europe; Investcorp; RBS; TPG; UBS. The winnersLegal Business Awards 2011 Winner Finance team of the year, highly commended Energy and Natural Resources team of the year. The VerdictWith myriad international opportunities and an 'outstanding' reputation, it is little wonder that US firm Shearman & Sterling has plenty of candidates queuing up to join the firm. Add to that exposure to some 'ground-breaking' deals and a great vacation scheme and you have a very good option. Although the training at the firm is 'less structured' than at others, one trainee comments that it does mean that three is a lot more 'on-the-job' training. The firm takes on a relatively small intake, which means that there is plenty of opportunity to get responsibility from an early stage. For one trainee this meant 'the opportunity to be part of team that undertook a 2-3 week arbitration in Geneva'. Other trainees worked on the acquisition of Liverpool FC in 2010. The open-door policy at the firm means that everyone is 'approachable' and 'friendly', and there is no pressure to do 'needless' admin work. There is a bit less client contact on offer here and the hours can be very 'anti-social'. However, the Shearman & Sterling London office is described by one trainee as 'unique' with an 'excellent dedication to client care and professionalism', international opportunities and the possibility to get involved with a broad range of quality work. A day in the life of.....Matthew Anson , first-year trainee solicitor, Shearman & Sterling LLP Departments to date: Finance group (structured and leveraged), project development and finance (current). University: Swansea Degree: Law, First Class 9.30am: I arrive at my desk after having walked to the office. Today, our client and the other parties to the transaction are coming to our offices to sign the documentation on a deal I have been working on. The client's team is already in the building having discussions with my colleagues in the corporate department. My supervisor, Ann-Marie, suggests we use the time to visit the signing room and complete one final check of the documents. 10.30am: Everything appears to be in order. The client's teams are brought to the room and I am introduced to their head of legal and the directors who will be signing the documents on the client's behalf. Ann-Marie and lawyers from the corporate team will be guiding the directors through the signing process, so I head back to my office to catch up on emails etc. 11.00am: I pick up the emails that have arrived in the last hour or so. I scan through my task list for the day and pick up a job that Ann-Marie had asked me to assist with - it involves summarising the salient terms of one of the supply agreements being entered into in relation to the current deal. Hopefully, it should act as a useful point of reference for the client in the future. It's also a great opportunity for me to get to grips with one of the commercial agreements that is central to the deal. After my initial review I have a few questions for the associates who drafted the agreement, but after a quick chat with those concerned my first draft of the summary is ready to go. Associates here are particularly approachable and happy to chat about areas in which you need assistance. 1.00pm: I email the first draft of the summary to Ann-Marie for review, and head to lunch. Lunch has been laid on for the clients, so I grab a sandwich and start chatting to some of the directors. My colleagues in corporate let me know that the signing process is likely to take another hour so I head back to my office. 1.45pm: While there is a lull in proceedings, Ann-Marie offers to take me through the salient commercial points of the transaction that's signing today. The deal started long before my rotation to the project development and finance team, so this is a really useful chance to gain an understanding of some of the issues behind the documents I have been helping on recently. It's also an excellent example of how the trainee supervisors at Shearmans help to contextualise your work, something which can have a real impact on how involved you feel in a particular transaction. 3.00pm: I receive news from the signing room that all of the documents have now been signed. Our task (the corporate team trainee solicitor, Sara and I), is to organise these documents into a logical order, scan them into the system and upload them to a data room where they can be accessed by the banks involved in the transaction. It's a labour intensive exercise but Sara, and I agree on a plan of action. Organisational skills are vital to our work here, even at a junior level, and given the volume of documents involved, this excercise is no exception. 5.30pm: I email our contacts at the various banks and their counsel to ask for a distribution list for the documents. I receive everything I need and start to prepare the online data room for the executed documents. I allow those on the distribution list access to the data room. 7.00pm: The data room is running smoothly, so we run through the completion (scheduled to occur in two days) checklist to make sure that nothing has been missed. 7.30pm: With the data room open and the completion checklist checked through, we all head for a quick drink with the clients. About the firmAddress: Broadgate West, 9 Appold Street EC2A 2AP Telephone: 020 7655 5000  Fax: 020 7655 5500 Website: www.shearman.com Email:
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Other offices: Abu Dhabi, Beijing, Brussels, Dusseldorf, Frankfurt, Hong Kong, Milan, Munich, New York, Palo Alto, Paris, Rome, San Francisco, Sao Paulo, Shanghai, Singapore, Tokyo, Toronto, Washington DC. Who we are: Shearman and Sterling LLP is one of the world's leading premier global law firms and was established over a century ago. The London office opened in 1972 and quickly became one of the leading practices, covering all aspects of English, European and US corporate and finance law. Globally there are c.900 lawyers, including around 200 partners. What we do: Our main areas of work include European corporate (including M&A, intellectual property and US capital markets), finance (including capital markets, structured, acquisition and leveraged finance), project development and finance, international litigation and arbitration, antitrust, tax, financial institutions advisory and asset management, property, and executive compensation and employee benefits. What we are looking for: We are looking for trainees who are ambitious, relish intellectual challenges and who are determined to become first-class lawyers in a first-class firm. What you'll do: During the two-year training contract, trainees have four six-month seat rotations. One of these rotations may be completed overseas, in either New York, Hong Kong, Abu Dhabi or Singapore. Trainees are fully integrated into the teams they work with, and add significant value to the deals they are part of. From day one, trainees are given a high level of responsibility, working with individuals at all levels, from partners to associates. Trainees learn from the best in the industry, not just in the UK, but across jurisdictions. Perks: Subsidised gym membership, private medical insurance, travel insurance, private dental insurance, BlackBerry, season ticket loans, annual eye test, access to the pension scheme, life assurance, long-term disability insurance. Sponsorship: Trainees are sponsored through the GDL and LPC, as well as receiving a maintenance grant. Application processApply to: Charlotte Hannan, graduate recruitment adviser. How: Online at www.shearman.com When to Apply: By 31 July 2012. What is involved: Psychometric testing, interview, assessment centre. Facts and figures Trainee places available for 2014: 15-18 Applications received pa: 1,000+ Percentage interviewed: 6% SalaryFirst year: £39,000 Second year: £40,500 Newly qualified: £78,000 Vacation schemesSummer: June and July 2012 (apply by 31 January 2012).
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