Shearman & Sterling LLP

Shearman & Sterling LLP Company Profile

Shearman & Sterling is one of the world's premier law firms, serving the domestic and cross-border needs of an impressive roster of clients. With approximately 850 lawyers in 18 offices across North America, Europe, Asia, Latin America and the Middle East, the firm has an enviable blend of prestige, prowess and reach.

First-Rate Foundation

Almost 140 years ago, hotshot lawyers Thomas Shearman and John Sterling locked hands in partnership, combining two legendary reputations to lay down a law firm's foundation. Shearman & Sterling didn't waste any time establishing itself-soon after the firm's birth, it began forging relationships with Wall Street's most commanding companies and personalities: the firm's first client was Jay Gould, and Jim Fisk followed soon after. Citigroup and its predecessor banks have been clients of the firm since the late 19th century, and in the following years, the firm has represented the financial institution in many transactions, including its 1998 merger with Travelers Group to form the current entity, Citigroup. In 1956, Shearman took Ford Motors public. Skipping ahead a half-century or so, the firm notably represented the financial advisor to Pixar when the animation company was acquired by Disney in 2006. Known for its extensive domestic and global M&A practice, Shearman also has prominent litigation and arbitration practices and has worked on many significant matters, including its representation of the Yukos shareholders in their $100 billion compensation claim against Russia. Other well-regarded practices include antitrust, corporate governance, derivatives/structured products, executive compensation and employee benefits, finance, financial institutions advisory and financial regulatory, financial restructuring and insolvency, investment funds and project development and finance.

A Sterling Philanthropic Legacy

Many Yale students have benefited from John Sterling's success, whether they know it or not. When he died in 1918, Sterling left behind a sizable fortune, opting to bequeath the residual of his estate to his alma mater. That residual amounted to around $15 million-a stunningly large donation at the time-which was enough to fund construction of the law school, the Sterling Memorial Library, and the Hall of Graduate Studies, with petty cash left over for various other campus landmarks and programs (such as the prestigious Sterling Professorship).

Merging Continents

Shearman & Sterling's global reach-especially its prominence in Asia, India and the Middle East-opens the door to considerable cross-border work for a who's who of international clients. The firm has a broad-based practice in the Middle East-its highly-successful Abu Dhabi office has been open since 1975. Shearman serves many of India's most globally-focused companies, advising on multi-billion dollar notes offerings (Reliance), IPOs (MakeMyTrip) and M&A deals (Tata Tea, Mittal Steel and others). With offices in Hong Kong, Beijing and Shanghai, Shearman has had a hand in some of China's most significant international transactions, as well. In addition, the firm's global Foreign Corrupt Practices Act practice has over 30 years of experience conducting major anti-corruption investigations and litigation and designing numerous corporate compliance programs.

Shearman has also established itself in Central and South Americas. With a presence in Brazil since the 1930s, the firm has advised on some of the country's most significant financial transactions, including Petrobas' global equity offering in 2010-one of the largest offerings ever-and its US$7 billion global notes offering in 2012, the largest one-time debt offering ever by a Latin American issuer. Outside of Brazil, the firm is active in Chile, Colombia, Mexico and Panama-the Panama Canal Authority called upon the firm to advise on the financing of the historic expansion of the Panama Canal.

The Sahara Calls

Wondering how far Shearman's international reach is? Keep looking. The firm's activity stretches all the way to Africa-Shearman represented Absa Capital and Barclays Capital in the then-largest ever leveraged financing in Africa. The firm also advised a consortium on the building of the Dorper wind farm on South Africa's Eastern Cape. The firm's pro bono work in Africa continues to be the centerpiece of its global efforts. Shearman has offered an externship in Tanzania at the Office of the Prosecutor at the International Criminal Tribunal for Rwanda since 2000. Firm attorneys also dedicate pro bono hours to various African causes, ranging from human rights to assistance for children whose parents are dying from HIV/AIDS to microfinance.

IN THE NEWS

November 2013

A Steel of a Deal
ArcelorMittal S.A. sought the counsel of Shearman & Sterling on its $1.55 billion acquisition with Nippon Steel & Sumitomo Metal Corporation (through a 50/50 joint venture partnership) of 100 percent of ThyssenKrupp Steel USA from ThyssenKrupp. ArcelorMittal is the world's leading steel and mining company, with a presence in more than 60 countries, while ThyssenKrupp Steel USA operates one of the most technologically advanced carbon steel-processing facilities in the world.

October 2013

A Rare Acquittal
In an extremely rare federal criminal acquittal in a white collar case, a jury in San Francisco acquitted Shearman & Sterling client Richard Bai of criminal price-fixing charges after a three-week trial in the Northern District of California. The case arose out of price-fixing allegations against Mr. Bai and his company, AU Optronics, as well as several other Taiwanese and Korean manufacturers of liquid crystal display panels. The case also attracted the attention of regulators in the European Union and China.

August 2013

Flying High
In a complex, multi-jurisdictional transaction, Shearman & Sterling advised U.S.-headquartered GE Aviation in its $4.3 billion acquisition of the aviation business of Avio S.p.A., a leading Italian manufacturer of aerospace propulsion components and systems for civil and military aircraft. The acquisition was one of General Electric's largest European M&A transactions in recent years and one of the biggest foreign investments by any foreign group in Italy for a decade.

July 2013

A Greek Tragedy Averted
Shearman & Sterling lent its expertise to Piraeus Bank S.A., the largest financial group in Greece by assets, loans and deposits, in connection with the bank's €8.4 billion recapitalization-the largest transaction in Greek financial history-at the height of Europe's financial crisis. This was an important step in the recovery of the Greek banking sector and a transformational transaction for Piraeus Bank.

An Optical Infusion
Shearman & Sterling acted as U.S. counsel to Japan's Olympus Corporation, a manufacturer of optics and reprography products, in its $1.2 billion Rule 144A/Regulation S international offering of shares of common stock. The company expects to use the proceeds from the offering to strengthen its medical business and rebuild its financial health.

Oasis in the Desert
Creditors Abu Dhabi Commercial Bank and Standard Chartered Bank looked to Shearman & Sterling to advise on a concession-based financing for Saadiyat Construction Village in the United Arab Emirates. It was the first concession-based financing done by TDIC (Abu Dhabi's Tourism Development Authority). Saadiyat Island was once an uninhabited stretch of coastal desert close to Abu Dhabi's city center and is now steadily being converted into a cultural metropolis as part of a $27 billion development project.

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Shearman & Sterling LLP


599 Lexington Ave.
New York, NY 10022
Phone: (212) 848-4000
Fax: (212) 848-7179
www.shearman.com

STATS


  • Employer Type: Private
  • Senior Partner: Creighton Condon
  • Hiring Partners: Robert Freedman and Doreen Lilienfeld
  • Total No. Attorneys 2014: 850

  • Employment Contact

    Ms. Trisha Weiss
    Director, Legal Recruiting
    Phone: (212) 848-8977
    E-mail: trisha.weiss@shearman.com


  • Base Salary

    New York, NY
    1st year: $160,000
    2nd year: $170,000
    3rd year: $185,000
    4th year: $210,000
    5th year: $230,000
    6th year: $250,000
    7th year: $265,000
    8th year: $280,000
    9th year: $290,000
    Summer associate: $3,077/week


  • Summer Associate Offers

    41 out of 41 (2013)


  • Major Departments & Practices

    Anti-Corruption & Foreign Corrupt Practices Act
    Antitrust & Competition
    Appellate Litigation
    Capital Markets
    Corporate Governance
    Criminal Law, Regulation & Enforcement
    Derivatives & Structured Products
    Environmental
    Executive Compensation & Employee Benefits
    Finance
    Financial Institutions Advisory & Financial Regulatory
    Financial Restructuring & Insolvency
    Insurance
    Intellectual Property
    International Arbitration
    International Trade & Government Relations
    Investment Funds
    Litigation
    Mergers & Acquisitions
    Private Client
    Project Development & Finance
    Public International Law
    Real Estate
    Sports
    State Controlled Companies & Sovereign Wealth Funds
    Structured Finance
    Tax

Major Office Locations

  • New York, NY (HQ)
  • Palo Alto, CA
  • San Francisco, CA
  • Washington, DC
  • Abu Dhabi
  • Beijing
  • Brussels
  • Frankfurt
  • Hong Kong
  • London
  • Milan
  • Paris
  • Rome
  • São Paulo
  • Shanghai
  • Singapore
  • Tokyo
  • Toronto
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