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Debevoise Hires Allen & Overy Lawyer with Asset Management Focus

Jan. 23, 2020, 11:01 AM

Debevoise & Plimpton has added former Allen & Overy partner Marc Ponchione to its Washington office as a partner in its investment management group.

Ponchione, who began his career as an SEC attorney, will focus his practice at Debevoise on advising financial services firms on regulatory, compliance, and transactional matters in the asset management industry.

“I work with clients on issues that come up under the federal securities laws as well as other regulations affecting investment managers, funds, and financial product sponsors,” Ponchione said.

A major issue he said he will be focusing on this year is proposed SEC changes in how investment advisors advertise their performance.

The commission is currently soliciting comments on proposed changes in the so-called advertising rule in order to codify previous interpretations of how the rule is applied to financial institutions.

“I am happy to be joining Debevoise because it has a strong investment practice and a funds formation practice,” Ponchione said. “It’s a unique opportunity because it allows me to sit at the intersection of a number of the firm’s practices.”

Ponchione started his career in 2001 at the SEC where he was senior counsel in the division of investment management. In 2006, he began working at Willkie Farr & Gallagher before moving to Allen & Overy in 2012.

David Schwartz, chair of Debevoise’s investment management group, said in a statement that Ponchione’s arrival will further “our reputation for providing high quality, commercial, market-aware and creative advice.”

He said that Debevoise’s global funds practice has seen “record-breaking growth,” and client needs that are becoming increasingly diverse.

Debevoise says it has advised sponsors of, or investors in, more than 2,800 private investment funds with committed capital of well over $3 trillion.

Ken Berman, a Washington-based partner and member of the investment management group, said in a statement, “Marc’s background and experience strongly complement our existing capabilities, and we look forward to him working alongside our leading asset management enforcement and compliance team led by White Collar & Regulatory Defense Group partners Robert Kaplan and Julie Riewe, and other practice areas at the firm.”

Both Kaplan and Riewe are former co-chiefs of the SEC’s asset management unit in its division of enforcement.

Outside of the financial space, Debevoise announced on Tuesday that it had brought on another notable lateral hire, cybersecurity partner Avi Gesser, who joined the firm in New York from Davis Polk & Wardwell.

The firm also recently revealed it would move its New York headquarters to Manhattan’s booming Hudson Yards area, which has recently attracted several Big Law firms.

To contact the reporter on this story: Elizabeth Olson in Washington at egolson1@gmail.com

To contact the editor on this story: Rebekah Mintzer in New York at rmintzer@bloomberglaw.com