Legal Business Blogs

Davis Polk promotes first City partner in five years

Davis Polk & Wardwell has made up its first London partner in five years with the promotion of corporate lawyer Reuven Young, in a further nod towards the investment the Wall Street firm is making in its City presence.

Young, one of three lawyers to make partner this round, is the first London partner promotion since corporate lawyer John Meade was made up in 2009. The other two promotions this year were New York corporate lawyers Sophia Hudson and Byron Rooney.

The firm’s previous promotion rounds, which most recently saw three lawyers made up to partner in 2013 and two in 2012, have all taken place in New York.

This latest organic London growth follows the launch of an English law practice with the lateral hire of Freshfields Bruckhaus Deringer capital markets partner Simon Witty (pictured) in 2012, followed by Will Pearce from Herbert Smith Freehills corporate department in May 2013.

Deals led out of London include a role advising underwriters, JP Morgan, Morgan Stanley, ING Bank and Deutsche Bank, on ING’s $2bn sale of insurer NN Group, led by London-based head of European financial institutions Jeffrey Oakes in the second-biggest initial public offering in Europe this year.

Harvard-educated and New York Bar-qualified, Young’s practice is principally focused on corporate finance transactions and he has acted for Anglo American, Banco Espirito Santo, Barratt Developments and Marks & Spencer.

Deals he has advised on include mining giant Rio Tinto’s $15.2bn rights offering; the largest ever by a non-financial company.

Young told Legal Business: ‘My capital markets and M&A practice broadly reflects the core offering of Davis Polk’s London office, which is very active and getting good deal flow. I am very pleased to be made up to partner and I am looking forward to building a broad corporate finance practice.’