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The lowdown (in their own words...)Why did you choose this firm over any others? 'I wanted to be part of a reputable international firm in London, with the ability to work on global deals within a multicultural environment'; 'international work in a leading private equity practice'; 'I didn't want to be the proverbial cog in the machine'; 'got on really well with my mentor during the vac scheme and was given worthwhile and interesting tasks' How does your training compare with peers' at other firms? 'The training is flexible due to the small intake, so any preferences for particular seats can be easily accommodated'; 'unique in that the whole training contract system is new'; 'not as many practice areas to try out before qualification'; 'guidance and support from all associates in the department' Best thing about the firm? 'A lot more responsibility and client contact plus the open-door policy at every level seems almost unique'; 'we have a small trainee intake, our training tends to be very flexible and tailored to our specific needs'; 'free lunches as well as the superb location, right next door to St Paul's cathedral'; 'a meritocracy: regardless of background brilliance is expected from you' Worst thing about the firm? 'Unpredictable working hours'; 'word gets around the firm very quickly'; 'not specific to O'MM - working in the legal environment during the current climate'; 'nothing: it is everything I expected and more'; 'communications between our US offices and London office' Best moment? 'Intellectually stimulating work and client contact'; 'being trusted enough to liaise with clients'; 'opportunity to complete a seat in the Brussels office'; 'the closing process of a particular transaction, being able to crack open the champagne bottles at eight in the morning' Worst moment? 'I was effectively thrown out of the beginners' ski class on the O'MM ski trip for being pretty dire'; 'we'd just closed a deal and I had all the original documentation in my office. The next day I found out my office had been flooded'; 'mundane work that comes with being a trainee...' The firmO'Melveny & Myers has an expanding team of more than 40-plus lawyers in London advising a range of financial institutions, leading private equity houses, sovereign funds, and corporates. The firm hired acquisition finance partner Sherri Snelson from Fried, Frank, Harris, Shriver & Jacobson in May 2009, but lost three litigation partners to Skadden, Arps, Slate, Meagher & Flom, and Michael Sage, its former co-head of restructuring, who joined Dechert. Clients find the firm to be 'experts in private equity fund formation'. The star performersArbitration; Mergers and acquistions: Lower mid market, £50m-£250m; Private equity. The dealsJointly advised Actis on its successful fund raise for Actis Emerging Markets 3 (AEM3 recently held a final close with committed capital of $2.9bn); advised on the consortium bid of $18.5bn for BAA Plc, the world's largest airport operator; represented Cell Genesys in its approximately $38m merger with BioSante Pharmaceuticals, Inc. The clientsApollo Management; Bank of America; Deutsche Bank; Goldman Sachs; ISIS Equity Partners; Merrill Lynch; TUI AG; UBS Capital; Vivendi. The money(from Legal Business magazine) Turnover in 2008: $930m (+7% from 2007) Profits per equity partner: $1,634,000 (+11%) The Lex 100 verdictIf you're seeking a firm with a strong corporate and private equity focus, but don't want to be part of a large intake in one of the City giants, O'Melveny is a great option. The training programme hasn't been running long and several trainees targeted it for being 'unique in that the whole TC system is new and so very flexible', plus there's the chance to play a part 'in the development of the firm'. You can expect 'far more responsibility and involvement in substantive work', and need to be 'proactive and use your initiative'. Whilst preferences for particular seats 'can be easily accommodated', you should be aware that 'there are not as many practice areas to try out before qualification', so an interest in the firm's core areas is absolutely key. But if you're hungry for 'exposure to high-quality work and sophisticated clients', there's a steady diet of global deals to keep you happy (and, as a result, some 'unpredictable working hours'). Several trainees praise 'the entrepreneurial culture', 'the commitment to pro bono, diversity and women', and, not least, 'the remuneration'. The multicultural environment is also popular and the firm is a Lex 100 Winner for friendliness - 'you get friendly with everyone in the firm, from the managing partner to the support staff', 'the friendliness and support means that the working environment is really enjoyable'. Several benefit from guidance and support from associates in the department, in addition to mentoring from supervisors. The 'superb' location is appreciated (right next door to St Paul's Cathedral) as are the free lunches and, for those snackers among you, 'a near constant supply of cakes and biscuits in the breakout room'. Slackers, however, need not apply as 'the only requirement placed upon the trainees is to be exceptional; regardless of background brilliance is expected from you'. You have been warned! A day in the life of..... Nicola Kirkpatrick second-year trainee, O'Melveny & Myers LLP University: UCL Departments to date: Funds, corporate Degree and class: Law LLB 9.00am: I arrive in the office and settle down at my desk with some breakfast. I check my emails and calendar for the day and create a to-do list. I have a quick email exchange with another trainee who is currently on a six-month secondment in the Singapore office, updating me on his involvement with a current transaction. 9.30am: I am told of a new deal which has come in and am invited to a deal briefing with a partner and counsel, which helps me to gain a good understanding of the client and the essence of what the deal involves. This gives me the invaluable background which will aid me during any work that I may have to carry out on this matter in future.10.30am: I am asked by an associate to prepare a memorandum to be sent to a client on an area of law which has changed as a result of the new Companies Act. I check the deadline, which I am told is tomorrow. I conduct the necessary research and begin writing up the results.11.40am: I receive a quick follow-up call from a client with whom I worked closely in my last seat. Trainees at O'Melveny get direct exposure to UK and international clients and professionals at an early stage and are able to form long-lasting business relationships. 12.30pm: I am a volunteer for our firm's pro bono reading scheme. Volunteers work in pairs, taking it in turns on a fortnightly basis to attend a local primary school to help an assigned student with their reading. As well as being great fun, it has been so rewarding to see my student progress and to have the opportunity to give something back to the community. 2.00pm: I arrive back in the office and prepare for a telephone board meeting of a US-based client in which I will be taking the minutes. I sit in on the call with a partner and my supervisor and as soon as the meeting is over, I clarify with my supervisor any issues on which I am unclear and begin writing up the minutes.4.30pm: I finish writing up the memorandum that I was preparing in the morning and submit it early for review. 5.00pm: I have been asked by my supervisor to draft a specific clause for a share purchase agreement. My supervisor takes the time out to explain the background of the client to me and to answer any questions that I have. He explains to me exactly what it is that the client will require. It is a great opportunity to put my drafting skills into practice, tailoring a clause to the individual needs of our client.6.30pm: I check my calendar for the next day. I see that we have an internal training session. As well as regular practice-specific firm-wide training sessions, we also benefit from external speakers coming into the office. In addition, trainees receive specifically tailored training to ensure that sessions are always at an accessible level.6.45pm: I prepare to leave the office for the evening with some of the other trainees to go to the theatre. One of the many benefits of working at a firm with a small trainee intake is that trainees form a strong bond. I feel really lucky to be able to undertake my training in an environment where all the trainees unhesitatingly offer each other assistance if required and who are not just colleagues, but have become firm friends. About the firm Address: Warwick Court 5 Paternoster Square EC4M 7DX Telephone: 020 7088 0000 Fax: 020 7088 0001 Email:
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Managing partner: John Daghlian
Total partners: 10 Other fee-earners: 20+ Total trainees :9
Other offices: Beijing, Brussels, Century City, Hong Kong, Los Angeles, Newport Beach, New York, San Francisco, Shanghai, Singapore, Silicon Valley, Tokyo, Washington DC. Who we are: A top-20 global law firm staffed by over 1,000 lawyers in 14 offices. O'Melveny's clients include many of the world's largest financial institutions, leading private equity houses, investment banks and corporates. What we do: The London office was relaunched in 2004 offering a full-service transactions practice with a focus on private equity fund formation and deals, and supported by leading tax, acquisitions finance, regulatory and IP lawyers. A leading litigation arbitration capacity was added in 2007. What we are looking for: The London office aims to recruit up to four high-calibre graduates. Successful candidates must be ambitious, have proven academic ability, high levels of drive and determination, good team-working skills and sound commercial awareness. The office has a strong entrepreneurial and collegiate style and, to date, the majority of out trainees have remained with the firm on qualification. What you will do: We'll aim to take into account individual preferences so far as we can, subject to the trainee completing the core competencies and to the demands of the business. Trainees complete seats in our corporate, finance and funds formation practices, and obtain experience in our litigation practice. There are also opportunities to work in our competition/antitrust, tax and IP practices. We have also been able to arrange trainee secondments to our Hong Kong, Tokyo, Singapore and Brussels offices. Trainees must be proactive and take responsibility for their work and are supported with a comprehensive legal and non-legal skills training programme. Trainees are monitored with mid- and end-of-seat reviews, and feedback is given throughout. Perks: 5% non-contributory pension, travel insurance, private medical insurance, subsidised gym membership, death-in-service benefit (4x annual salary), holiday entitlement (25 days), permanent health insurance. Sponsorship: GDL/LPC tuition fees incurred post-recruitment, plus a maintenance grant during the GDL/LPC course (currently £7,000 pa). Application processApply to: Nicola Matthews, Human Resources Manager. How to apply: Applications can be made online via www.cvmailuk.com. When to Apply: Closing date for 2012 applications - 31 July 2010. Facts and figuresSalaryFirst year £39,000 Second year £42,500 Placement schemesSummer: Two-week blocks between June and August (apply via www.cvmailuk.com by 1 February 2010) | |