A heavy-hitter with a hand in most major areas of law and
internationally-recognised prowess in litigation, Jones Day uses
its size and reach to maintain strong client relationships with
global corporate giants. With 37 offices spread across 17
countries, the firm is one of the largest in the world.
From one small office to "one firm worldwide"
Founded in 1893 by Judge Edwin Blandin and William Lowe Rice,
Jones Day made its name by representing Midwestern manufacturers
and transportation companies from its base in Cleveland, Ohio, and
it was one of the first firms to adopt a corporate management
structure. The decades since have brought steady growth, with the
addition of dozens of offices in the US and overseas. Jones Day's
European network includes more than 400 lawyers working in
Brussels, Frankfurt, Madrid, Milan, Moscow, Munich and Paris. The
firm has also been active in the China market for more than 20
years, with offices in Mainland China, Hong Kong and Taiwan. The
firm was also an early riser in Singapore, where it set up shop in
2001. In 2011, Jones Day opened an office in Boston and also set up
shop in Saudi Arabia, via an association with local Saudi firm Al
Sulaim Al Awaji & Partners Law Firm.
The firm ranks high on the revenue charts, topping the $1
billion mark, according to The American Lawyer's annual Am
Law 100 survey. And it seems to have avoided the worst effects of
the 2008-09 downturn, promoting dozens of new partners worldwide,
including four in London, and opening two new offices in 2009 by
acquiring Mexican law firm De Ovando y Martinez del Campo in Mexico
City and staking a claim in Dubai.
Big in Britain
Founded in 1986 and expanded in 2003 when Jones Day merged with
City stalwart Gouldens, the firm's London office is home to 164 fee
earners, mostly English-qualified solicitors, but including some
US-trained lawyers and dual-qualified lawyers. While the firm's
work encompasses just about every major area of law, the London
office focuses primarily on M&A, capital markets, private
equity, banking and finance, business restructuring, intellectual
property, tax investment funds, litigation and real estate. London
real estate lawyers count as clients some of the city's biggest
names in the business, including Hercules Unit Trust and British
Land, one of the UK's largest REITs.
Jones Day boasts that it represents more than half the Fortune
500 and has maintained relationships with most of its clients for
over a decade. Among the big-name companies who have come to rely
on Jones Day's service are The Sherwin-Williams Company, which the
firm has defended in lead paint litigation; retail giant Macy's,
which has sought representation on employment issues and consumer
class action suits; and Chrysler, which hired Jones Day as
restructuring counsel during its headline-grabbing bankruptcy
proceedings. The firm also represented the century-old auto-parts
supplier Dana Corporation in connection with its restructuring,
which included the first company voluntary arrangement (CVA) in the
UK. Other well-known clients include Standard Bank, Citigroup,
Royal Bank of Scotland, IBM and Sanofi-Aventis.
Masters of M&A
One of the busiest law firms when it come to corporate
transactions, Jones Day has held the top ranking for number of
M&A deals completed worldwide for the last 11 years in a row,
according to the Thompson Reuters and Bloomberg league tables.
Among major transactions since the start of 2011, the firm advised
Texas Instruments Incorporated on its $6.5 billion acquisition of
the National Semiconductor Corporation; represented Lubrizol
Corporation in its $9.7 billion purchase by Berkshire Hathaway; and
advised Potash Corporation of Saskatchewan in its deflection of one
of the largest attempted hostile takeovers in history-a $43.1
billion bid by BHP Billiton.
In spring 2011, a Jones Day team including lawyers from the
Moscow, London, New York and Washington offices advised Alfa Group
on the $1.1 billion sale of its interest in Russian broadcasting
company CTC Media to Telcrest Investments Limited.
Investing in Ireland
American billionaire Wilbur Ross and his company WL Ross &
Co specialise in investing in failed companies. In 2011, Ross
decided that the struggling Bank of Ireland was a worthy target for
rescue and turned to Jones Day for advice. Jones Day is currently
advising WL Ross as part of a consortium whose $1.6 billion
investment will help bail out the Dublin-based bank and forestall
nationalisation. The Irish government already controls 36 per cent
of the bank, though this investment will reduce that stake to 15.1
per cent. As a result of the deal, WL Ross will acquire a 9 per
cent stake in the Bank of Ireland; the consortium as a whole will
own 34.9 per cent.
In June 2011, Jones Day advised longtime client Ryder System in
its £154 million acquisition of the truck leasing company Hill Hire
from Lloyds Banking Group. The US-based Ryder, which has been
operating in Britain for 40 years, is working on expanding its
presence in the country.
Jones Day also paved the way for several headline-making deals
in 2010. For example, a multijurisdictional team of lawyers helped
set up a $1.7 billion joint venture for US-based Atlas Energy,
which joined with Indian energy giant Reliance Industries to
develop a leasehold for natural gas drilling and operations in the
Marcellus Shale region of Pennsylvania and West Virginia.
Things are looking Up in China
In January 2011, a cross-border team that included lawyers in
London, Hong Kong and Singapore advised China-based Up Energy Group
on a $70 million senior debt financing deal after Up's assets were
bought by Tidetime Sun Limited for $1 billion in convertible bonds.
Jones Day also helped Up with capital restructuring associated with
the deal. The prior month, an M&A group advised Yue Xiu
Enterprises, the Guangzhou, Hong Kong Municipal Government's
principal investment vehicle, in the $159 million sale of its
cement and ready-mix concrete business to China Resources Cement
With a partner charged with overseeing pro bono in every firm
office, Jones Day's fee-free efforts reach many corners of the
world. In addition to its involvement with LawWorks, the London
office participates in a wide range of local and international
projects, including a longstanding relationship with the Waterloo
Legal Advice Service, which provides legal advice to individuals
who do not qualify for Legal Aid but cannot afford to pay for a
solicitor. A number of Jones Day trainees and associates are
regular advisers at the centre, to which the firm also provides
administration and other services. The firm also does its part to
assist legal development in China, awarding grants to Chinese
students to study law in China under its 11-year-old International
Legal Fellowship program.