Business & Practice

Wake Up Call: Two Big Firms Advise as Goldman Sachs Buys United Capital

May 17, 2019, 11:28 AM
  • Fried, Frank, Harris, Shriver & Jacobson advised New York-based investment bank Goldman Sachs Group Inc. on its deal to buy California-based wealth manager United Capital Financial for $750 million. Kilpatrick Townsend & Stockton advised United Capital. (GoldmanSachs.com) (BN)

  • Proskauer advised French chemical group Arkema Inc. on its transatlantic deal to acquire ArrMaz, a Florida-based maker of specialty chemicals for mining and other industries, from Golden Gate Capital for about $570 million. Kirkland & Ellis and Nob Hill Law Group advised Golden Gate Capital and ArrMaz. (Proskauer.com) (PEHub.com) (BN)

  • In other mining-related news, Paul Hastings said Jonathan Drimmer, the former deputy general counsel and chief compliance officer at Toronto-based Barrick Gold, the world’s second largest gold mining company, joined the firm as a partner in its investigations and white collar defense practice. Drimmer was earlier a partner at Steptoe and Johnson LLP. (Paul Hastings)

  • Pittsburgh-based Buchanan Ingersoll & Rooney said its CEO and managing director, Joseph A. Dougherty, was unanimously re-elected to a second, three-year term. (BIPC.com) Dougherty built the firm’s new industry-driven approach to servicing clients, centered around healthcare, energy, finance, and life sciences teams. The teams’ attorneys, government relations pros, and administrative leaders offer distinct perspectives. (Pittsburgh Business Times)

  • U.S. and European law enforcement officials said two U.S.-based law firms were among victims of a global organized cybercrime network they took down. The authorities said the network used malware to steal banking login info to try to get $100 million in a scheme that targeted thousands of businesses. (BN) The DOJ did not identify the law firms, only noting that one was in Washington, D.C., and another was in Wellesley, Massachusetts. (Justice.gov) (American Lawyer)

  • Citigroup Inc., Royal Bank of Scotland Group Plc and JPMorgan Chase & Co. are among five banks that agreed to pay European Union fines totaling 1.07 billion euros ($1.2 billion) for colluding on foreign-exchange trading strategies. (BN via BLAW)

  • “Sometimes settling a case is the only course that makes sense,” a judge told Isaac Paz and his lawyers. After Paz declined to settle his debt collection practices claims, he ended up recovering far less in damages at trial than the defendant, advised by Hinshaw & Culbertson, had offered. And to top it off the court ruled Paz isn’t entitled to a large attorneys’ fee award. (BLAW)

  • The former top lawyer of failed New Orleans bank First NBC Bank faces a federal criminal charge for conspiracy to commit bank fraud and is being sued by the bank’s creditors. (Corporate Counsel)

Lawyers, Law Firms

  • Holland & Knight partner Mark Flessner will serve as Chicago’s next corporation counsel and lead the city’s 450-person law department, the city’s mayor elect, Democrat Lori Lightfoot said. (BLAW via BLB)

Laterals, Moves, Promotions

  • Carlton Fields added transactional healthcare attorney Enrique R. Miranda as an associate in Tampa. He was previously at Bryan Cave Leighton Paisner in the St. Louis area. (CarltonFields.com)

  • Fox Rothschild added worklaw attorney F. Beaumont Howard in Atlanta as a partner in its labor & employment department. (FoxRothschild.com)

  • Steptoe & Johnson LLP hired Quarles & Brady partner Adie Olson as a partner in the firm’s government affairs and public policy group in Chicago. (BLAW via BLB)

  • Latham & Watkins grabbed three corporate partners from Morrison & Foerster in Tokyo. (BLAW via BLB)

  • Holland & Knight hired Morgan Lewis trial and appellate lawyer Joshua C. Prever in Fort Lauderdale as a partner in the firm’s financial services litigation team. (HKLaw.com)

  • Morrison Foerster elected private funds lawyer Zeeshan Ahmedani, based in L.A., to the firm’s partnership. (MoFo.com)

  • Alternative dispute resolution services provider JAMS said former Florida appeals court chief judge Richard J. Suarez joined its Miami panel. Former Oakland County, Michigan, circuit court chief judge Wendy Potts joined its panel in Detroit. (JAMSadr.com)

Legal Actions, Bankruptcies, Decisions

  • Och-Ziff Capital Management Group’s former European head, Michael L. Cohen, pleaded guilty to one count of lying to U.S. authorities a year after they accused him of cheating a client out of millions of dollars. In a sign the U.S. case against Cohen has largely unraveled, prosecutors agreed to dismiss the remaining nine counts, including several fraud charges. Cohen, an American living in London, is represented by Ron White of Morrison & Foerster and Paul Schoeman of Kramer Levin. (BN via BLAW)

  • “So long sucker.” A Clearwater, Florida, lawyer is under investigation by the state bar after posting a video of himself (apparently) chasing a raccoon off his boat, 20 miles offshore. (TampaBay.com)

  • A New York state appeals court suspended 2,353 attorneys for allowing their required registrations to lapse. (BLAW)


  • Singapore’s Law Society launched an initiative to encourage local law firms to adopt legal tech. Earlier this month the Singapore government started a Singapore $3.68 million ($2.68 million) fund under which law firms can get financial help for their digital transformation. (ZDNet) (Straits Times)

  • Facing an FCC probe over their data sharing practices, AT&T Inc., Sprint Corp., T-Mobile US Inc., and Verizon Communications Inc. said they have stopped or nearly stopped selling access to subscribers’ real-time location data to third-party data brokers. (BLAW)

To contact the correspondent on this story: Rick Mitchell in Paris at rMitchell@correspondent.bloomberglaw.com

To contact the editors responsible for this story: Rebekah Mintzer at rmintzer@bloomberglaw.com; Molly Ward at mward@bloomberglaw.com

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