Employee Benefits & Executive Compensation: New York

THE FIRM This group is viewed as a leading light in the employee benefits and executive compensation domain, including ERISA matters. This makes it an attractive choice for high-profile clients such as Bank of America and Goldman Sachs. The firm advises investment groups, banks and companies on new regulations surrounding executive pay, disclosure and corporate governance. Recently the firm's workload has included guidance on high-profile stock-drop cases and multijurisdictional pension plans. 

Sources say: "These attorneys are the A-team; we challenge them with complicated investment structures on a daily basis and they handle the work with ease."

KEY INDIVIDUALS Brick Susko is considered to be "head and shoulders above the rest." Susko recently obtained a DOL exemption for his client Barclays Global Investors, and he has also advised international companies on benefits and compensation matters relating to M&A. He continues to speak and publish regularly on executive compensation and ERISA.

Clients appreciate Arthur Kohn's "understanding in specialty areas," and also report that "he gives you a high degree of confidence as you work through issues." Kohn counsels an assortment of clients including American Express, McDonald's and Citi on an array of benefits and compensation issues. He also regularly publishes and teaches in this field.

Robert Raymond is described by clients as "a pleasure to deal with - responsive and very knowledgeable on the ERISA rules." Raymond's practice extends to advising on the ERISA implications of company restructuring. In recent work highlights, he has advised private equity firms, including Hellman & Friedman and Goldman Sachs, on the application of ERISA 'Plan Asset' rules.

Michael Albano has lately acted as counsel to the UAW on the ongoing Chapter 11 proceedings of Chrysler and GM, including ERISA issues. He continues to advise various Fortune companies on corporate governance and executive compensation. 

THE FIRM This firm's employee benefits and executive compensation team handles work for a number of leading financial sector clients and major corporate entities. The team advises clients on the whole spectrum of benefits and compensation matters, from designing liability-driven investments and risk management of plans, to guiding clients on appropriate executive compensation in relation to M&A. In recent work highlights, the firm has advised on multibillion-dollar transactions for both Comcast and VF Corporation.

Sources say: "They are leaders in their field. They stay on top of the frequent changes in regulations and are able to provide smart, practical advice."

KEY INDIVIDUALS Jean McLoughlin is described as a "shrewd and efficient drafter and negotiator. She has been able to spot relevant issues and present them clearly to our businesspeople, along with a range of solutions." McLoughlin has recently been advising leading Brazilian private equity firm GP Investments on a large acquisition.

Satisfied clients remark on Edmond FitzGerald's "personable, intelligent and experienced approach. He eliminates the 'noise' from an issue and zeroes in on the key issues to deliver smart, practical advice." FitzGerald recently advised PepsiCo on its multibillion acquisition of Russian company Wimm-Bill-Dann Foods.

THE FIRM The compact benefits and compensation practice at this firm has close ties with its corporate practice. In the past year the group has seen an increase in advisory work on benefits and compensation issues pertaining to corporate spinoffs. The group continues to advise international private equity fund clients on the benefit and compensation issues surrounding hedge funds and M&A. Key clients include Ingersoll Rand, The Travelers Companies and KKR.

Sources say: "They go well beyond giving advice; they are strategic advisers."

KEY INDIVIDUALS Brian Robbins has recently taken on the leadership of the practice. He is regarded as an attorney "who has judgment and wants to get the deal done - he's a pleasure to work with." Robbins continues to work on complex transactions, including high-profile spinoffs.

Alvin Brown's clients report: "He did a great job representing us; he's an extremely practical guy". Brown recently advised Varian Semiconductor on management equity, compensation and employee benefits issues during its sale to Applied Materials. 

Gregory Grogan has enjoyed a busy year, most notably representing Microsoft in employee benefits and compensation matters pertaining to its purchase of Skype.

Andrea Wahlquist continues to assist both public and private equity entities through numerous benefits and compensation issues surrounding acquisitions.

THE FIRM This firm houses a sizable employee benefits and executive compensation team which works closely with the firm's other key practice groups. As well as advising on a host of benefits matters, a large portion of Skadden's work is centered around guiding companies through the regulations determining appropriate compensation for executives. The group is similarly well positioned to advise on international tax and securities issues. Recent work highlights have included representing both Apax Partners and The Bureau of National Affairs on employment matters relating to acquisitions. Other clients of the firm include Burger King, American Express and Citi.

Sources say: "They really make you feel like you're their only client. We have difficult requests, but they really do a good job and get the right answers. If we need something at 7 am they will send it at 4 am."

KEY INDIVIDUALS Clients value Regina Olshan's expertise on Section 409A issues. Olshan has recently been acting for Cephalon on issues relating to its acquisition by Teva. 

Neil Leff "gives practical advice - he always has a solution that we haven't thought of," say clients. Recently he has handled issues relating to public offerings, bankruptcy and corporate spinoffs. He also has a strong practice representing companies involved in acquisitions in the energy sector.

THE FIRM This group's renowned team comprises four partners and three special counsel, who collaborate on a range of benefits and compensation matters. As part of a full-service firm, the group is well positioned to advise on tax implications and severance arrangements pertaining to M&A. Notable recent engagements within the financial services industry have included advising Bank of Montreal in a multibillion-dollar acquisition and guiding First Republic Bank through an IPO. 

Sources say: "A premier firm in executive compensation."

KEY INDIVIDUALS Group cochair Max Schwartz is seen as an expert on the most complex executive compensation issues. He continues to advise major companies and high-level individuals on tax, securities and corporate governance issues relating to executive compensation. 

Co-leader of the group Marc Trevino advises clients on compliance, audits and crisis management. He is known for his expertise in corporate compensation and governance and often works with corporate clients on regulatory compliance. He recently assisted GE in such matters.

Matthew Friestedt maintains a focus on compensation matters arising from M&A. Recent clients in this field have included Goldman Sachs and ING.

THE FIRM This New York team deals with executive compensation, securities law, transactions and fiduciary work. The firm's workload includes designing vehicles for the management of pension schemes, while the firm is similarly well placed to advise on golden parachutes, special benefits and private equity. The group has recently been advising International Paper on its acquisition of Temple-Inland. Other key clients include Hertz, Booz Allen Hamilton and Clayton, Dubilier & Rice.

Sources say: "Their strengths are their intellectual capabilities and expertise, accessibility and excellent collaborative and relationship skills."

KEY INDIVIDUALS Lawrence Cagney leads the compensation and benefits group and is noted for his expertise on executive compensation and the new rules relating to disclosure. Sources regard him as "extremely intelligent and creative."

Jon Lewis is described by admiring clients as "a superstar. He has incredible knowledge of a complex field, he is very practical and gives advice that is appreciated from a client's perspective." The past year has seen Lewis work on a number of high-stakes transactions, including acquisitions by both Altegrity and Schneider Electric.

THE FIRM This firm's sophisticated benefits practice has recently seen an influx of work relating to the impending healthcare changes. The group is well placed to advise on corporate deals and private equity matters, and it frequently acts for both CEOs and companies throughout retention and severance programs and transactions. The group recently represented the American Federation of Musicians regarding its pension plan fund. Other key clients include Citi, Amgen, the National Hockey League and the National Basketball Association.

Sources say: "Their attorneys are knowledgeable, practical and they understand issues in a business context."

KEY INDIVIDUALS Michael Sirkin is well known for his representation of high-profile executive clients in the negotiation of compensation packages. Sources say: "He checks all the conflicts out and really makes sure the client is well represented."

His colleague Rory Albert is co-head of the practice. Clients say: "He is an excellent, top-notch consensus builder - an ideas person - he brings new ideas and solutions to the table and he has a way of making things happen." He has been a key figure in the firm's representation of the American Federation of Musicians.

THE FIRM Wachtell continues to be a strong contender in this space. The team maintains a focus on corporate governance and transactions, which it supervises in collaboration with attorneys from its corporate and litigation groups. It is also ideally situated to advise on both restructuring and compliance in light of the recent emphasis on disclosure.

KEY INDIVIDUALS Michael Segal is considered to be a leader in the domain of M&A. He continues to advise substantial clients on benefits and compensation considerations. 

Jeannemarie O'Brien is particularly noted for her work with financial institutions. Her practice extends to offering advice to both private and public companies on the compensation aspects of transactions.  

Jeremy Goldstein continues to be recognized for his work on corporate governance, restructuring and compliance. 

THE FIRM This firm has a strong footing in the corporate transactional world which serves its benefits and compensation practice well. Recent work highlights include acting for Cargill on a split-off and disposal with complex tax and shareholder implications. In the capital markets field, the team has represented Merrill Lynch, Credit Suisse Securities and JPMorgan Securities on compensation matters arising from an IPO by TMS International. The group is also well placed to advise clients on the implications of the Dodd-Frank Act.  

KEY INDIVIDUALS Chair Donald Carleen has an excellent reputation for his knowledge of ERISA law, which he applies to private equity and corporate transactional work. Carleen regularly represents clients before the Pension Guarantee Board and the DOL. 

Laraine Rothenberg has particular expertise in corporate governance, tax and securities and their relationship to executive compensation. Rothenberg also advises companies and executives on disclosure. 

Jeffrey Ross's benefits and compensation experience is wide-ranging. He regularly assists clients in the design and implementation of large plans and he frequently counsels on ERISA matters. 

THE FIRM This well-respected team handles a significant volume of transaction-related work. The group recently advised Wendy's on benefits and executive compensation arrangements relating to its recent sale of Arby's Restaurant Group. Paul Weiss also advises investment managers and plan sponsors on ERISA, tax and securities law. Other key clients include Ericsson, Time Warner and Oak Hill Capital Partners.

Sources say: "Excellent client service, and they are creative thinkers."

KEY INDIVIDUALS Group chair Robert Fleder has many years of experience in employee benefits and executive compensation. He frequently represents investment fund managers, and is able to advise on hedge funds and private equity options. 

Lawrence Witdorchic primarily focuses on M&A; he recently guided Ericsson through two acquisitions with a total value of over $2.2 billion. Witdorchic is often instructed to advise on nonqualified deferred compensation plans, stock options and tax matters.

Andrew Gaines recently joined the firm from Weil, Gotshal & Manges LLP. Sources relate that he is "responsive, pragmatic and possesses institutional knowledge with respect to our firm that we are able to rely on." Gaines helps companies design, draft and implement equity and compensation arrangements.

THE FIRM Pillsbury enjoys a strong reputation for its ERISA litigation work, and the group is similarly well positioned to advise international clients on highly scrutinized executive compensation matters. The team recently advised Northgate Arinso on multijurisdictional human resources issues arising from its acquisition of a division from Convergys. 

Sources say: "We rely on their employee benefits and executive compensation expertise."

KEY INDIVIDUALS Susan Serota is noted for her work on global equity matters. Sources praise her resourcefulness and appreciate the fact that she has "her finger on the pulse in Washington."

Her colleague Peter Hunt "is very thorough. His strengths are his flexibility and deep knowledge," say clients. Hunt focuses on M&A, qualified plan compliance and investment funds. He has been assisting Clearwater Paper in connection with a merger. 

THE FIRM This practice benefits from its position within a full-service, global law firm. The team's four experienced partners are particularly attuned to the world of executive compensation, and frequently represent both companies and individuals during restructuring and hiring and firing. The group is currently providing counsel to the compensation committee of Universal Insurance Holdings, while Dow Chemical also continues to utilize its benefits expertise.

KEY INDIVIDUALS Linda Rappaport's practice incorporates executive compensation, tax and securities law. She counsels both domestic and global companies, and recently represented Vivendi in its sale of an interest in Beats by Dr. Dre to HTC. Sources say: "She is a combination of intelligent and hard-working and stays on top of the issues. She is accessible and a pleasant person too."

John Cannon is practice group leader. He is well versed in benefits and compensation matters relating to corporate governance, security, bankrupcty and ERISA. He is currently advising Synthes on the severance and retention bonus implications of its acquisition by Johnson & Johnson. 

THE FIRM This firm continues to excel in the executive compensation and tax space. The group works alongside bankruptcy, private equity and corporate lawyers to provide technical advice to clients on transactions and deals. Recent work highlights include the firm's representation of Kinder Morgan in its $2.86 billion IPO. Other key clients of the firm include CBS, Willis and MasterCard.

Sources say: "There is a deep personal commitment; the partners are superb and they always provide outstanding support. I can throw out almost any issue or problem and they will solve it."

KEY INDIVIDUALS Amy Rubin has recently acted for Verizon in its $1.4 billion acquisition of Terremark Worldwide. Clients say: "She takes contract law and conveys the legalities in layman's terms. She makes it so understandable and delivers ahead of the deadlines."

Since publication, Paul Wessel has joined the team from Milbank, Tweed, Hadley & McCloy. He handles matters for corporate entities and private equity firms with respect to a range of transactions. 

THE FIRM Cadwalader is highly rated for its fiduciary practice, while the past year has seen it advise companies on strategic responses to the Dodd-Frank regulations, including 'say on pay'. The team is seen as an equally sound choice for companies requiring pension plan advice. BlackRock is a key client which the firm has recently assisted on ERISA implications following its acquisition of BGI, and in relation to equity holdings in BlackRock itself by Barclays, Bank of America and PNC. Other clients of the firm include Pfizer, Goldman Sachs and Merrill Lynch. 

Sources say: "They are incredibly creative, clear and responsive and are aware of industry developments."

KEY INDIVIDUALS Bronislaw Grala is known for his expertise in ERISA investment. Clients note his "good grasp of the law and the types of products that we provide," while he is considered to be "invaluable in terms of giving the broader view based on his extensive experience."

James Frazier "is thoughtful, has a great practical approach and is very helpful in giving us a sense of where we are in the pack," say clients. He is noted for his ERISA expertise, and has acted alongside Grala in the firm's work for BlackRock.

THE FIRM Latham & Watkins houses a formidable benefits and compensation practice across its offices in New York, DC, Los Angeles and Chicago. It regularly advises on high-profile transactions and it is also well placed to guide companies through benefits and compensation issues arising from bankruptcy. Recent work highlights include acting for The Carlyle Group on issues arising from its acquisition of Syniverse Technologies. It has also advised Amgen, Live Nation and Mattel, among others, on benefits and compensation plans.

KEY INDIVIDUALS Jed Brickner chairs the benefits practice and cochairs the tax practice. He recently advised GE Capital Global Banking on compensation and benefits issues arising from a high-value transaction. Sources say: "He is extremely good on ERISA matters - I hold him in the highest regard." 

Bradd Williamson is widely regarded as a strong benefits and compensation lawyer. Williamson has recently been acting for Odyssey Investment Partners on various mergers and acquisitions.  

THE FIRM Morgan Lewis's New York arm offers a comprehensive range of benefits and compensation advice to clients across a broad range of industry sectors. The group maintains a thriving transactional practice as well as providing strong traditional benefits advice. It is also well placed to guide clients through issues relating to defined benefit plans. Key clients include Goldman Sachs, JetBlue Airways and The New York State Common Retirement Fund.

Sources say: "A very broad benefits practice - they have been successful in building extensively."

KEY INDIVIDUALS The highly rated Gary Rothstein is said to be "very upfront and clear with clients as to what to expect in terms of the process and negotiation." Rothstein works with executives on compensation and private equity matters. His clients include Goldman Sachs and Del Monte Foods.