THE FIRM Davis Polk has a formidable team which ably serves its enviable client list on a variety of novel equity derivative and structured products. A recent sign of the group's market prominence is its representation of Morgan Stanley on some 343 structured products offerings valued at $6.87 billion. This offering included an exchange-traded note linked to new index-tracking MLP interests in the energy sector. In the derivatives space the team continues to advise the Federal Reserve Bank of New York and the US Treasury Department in connection with AIG's $70 billion recapitalization plan.
Commercial Awareness "Our go-to firm for any issue or transaction that comes up. No firm can respond on a short fuse with as much energy, expertise and accuracy as Davis Polk can."
KEY INDIVIDUALS Head of the firm's derivatives and structured products group, John Brandow is "clearly an innovator," according to market commentators. He is noted for his prominence in the equity derivatives market, having recently represented Credit Suisse, Merrill Lynch, Pierce and Fenner & Smith as lead book-runners in connection with a significant SEC-registered offering.
Clients comment that James Rothwell "knows everything there is to know about equity derivatives" and is "just unreal - he's everywhere and knows every deal, every client." He recently represented Goldman Sachs as dealer counterparty in connection with a $1 billion share repurchase transaction with Northrop Grumman.
A frequent speaker at conferences, Daniel Budofsky is a leader in regulatory implementation with regard to derivatives. His practice includes fund derivatives transactions and various structured products.
"Young, aggressive problem-solver" Mark Mendez "has the deepest understanding of equity derivatives and structured equity risk of any lawyer," according to clients. He receives additional praise for his work ethic and ability to handle the advisory and transactional side of capital markets work.
Client favorite Ray Ibrahim is "always the first and last call" when issues arise. He recently advised Deutsche Bank, Citi and Piper Jaffray as book runners in connection with a $120 million senior notes offering by Akorn.
Warren Motley is "incredibly knowledgeable and helps you arrive at the right answer," according to interviewees. He is experienced in representing both retail and institutional investors in the development of novel financial products. Recent work highlights include advising Deutsche Bank on 270 structured products offerings valued at approximately $4.4 billion.
Linda Simpson is recommended for her breadth of knowledge and her "ability to give an answer with confidence on nearly any issue in the market." She has recently been involved in advising Credit Suisse on a series of structured product offerings valued at in excess of $1.27 billion.