Investors seek protection from the law

Article Abstract:

Relatively little attention has been given to the role of law firms in the leveraged buyout/high yield sector. US law firms are emulating a process in which US investment banks have sought to create closer relationships with European issuers, at a time when European banks are looking to build up their high yield resources. However, substantial differences in legal regimes are presenting challenges for US law firms looking to operate in Europe. In particular, Europe has no equivalent of chapter 11 proceedings for failing firms.

Acquisitions Analysis, Management, Acquisitions and mergers, Financial analysis, Leveraged buyouts

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Defectors from UBS make new home at WestLB

Article Abstract:

Several former UBS employees have been taken on by German-based bank Westdeutsche Landesbank Gironzentrale (WestLB) in an attempt to gain a larger share of the European leveraged buyout market. The ex-UBS team is lead by Simon Clarkson Webb, who worked on some of the largest UBS leveraged buyout deals. He persuaded up to seven of his colleagues to join his new team at WestLB. Webb claims the new team will be able to exploit all aspects of the European market, especially in Germany.

Human resource management, Mezzanine financing, Westdeutsche Landesbank Girozentrale

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The secret's out

Article Abstract:

Manchester, England, benefits from a strong financial services industry, supported by favourable conditions in the local economy. Top firms in the city include NatWest Markets, which aims to become the leading corporate finance player in the region, KPMG and Hyams. Law firms include Addleshaw Sons and Latham and Garrett and Co. Professional firms based in Manchester are also increasingly winning business outside the region.

Financial services industry, Manchester, England

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