Chambers High Net Worth Guide 2017: Rankings & Editorial

Transcription

1 Chambers High Net Worth Guide 2017: Rankings & Editorial September McDermott Will & Emery LLP. These materials may be considered advertising under the rules regulating the legal profession. McDermott Will & Emery conducts its practice through separate legal entities in each of the countries where it has offices Boston Brussels Chicago Dallas Düsseldorf Frankfurt Houston London Los Angeles Miami Milan Munich New York Orange County Paris Rome Seoul Silicon Valley Washington, D.C.

2 Chambers HNW 2017 Rankings & Editorial Table of Contents District of Columbia Page 4 Illinois. Page 5 New York Page 7 Northern California.. Page 8 Southern California.. Page 8 UK. Page 9 USA Nationwide. Page 11 2

3 KEY *Star (above rank 1) U - Up and Coming About Chambers HNW Chambers and Partners has dedicated the last 25 years to researching and ranking the world s best lawyers. We produce expert guides for the USA, UK, Europe, Latin America, Asia-Pacific, Canada and Global market and are now launching the Chambers High Net Worth guide our first publication specifically aimed at the international private wealth market. Chambers global reputation provides unique access to this notably difficult to reach audience. The guide will be used by family offices and professional advisers to wealthy individuals, providing objective guidance on an international scale, making Chambers High Net Worth a key reference point for such a mobile market. Areas Covered: The guide covers private wealth management work and related specialisms in key jurisdictions around the world, featuring in-depth editorial about the leading lawyers and law firms for wealthy individuals and families. Chambers HNW also features listings and information about many of the top accountancy and tax firms, private banks, wealth management firms and multi-family offices acting for high net worth individuals. Any questions related to Chambers HNW or McDermott s rankings, please contact Irina Densiova on idenisova@mwe.com, or

4 District of Columbia - Private Wealth Law Band 1 Leigh-Alexandra Basha (Band 1) - UP Ellen Harrison (Band 1) Band 1 Leigh- Alexandra Basha (Band 2) Ellen Harrison (Band 1) McDermott is recognized as "one of the top-flight firms nationally" in the private wealth area, with a very strong national and international private client offering. The firm launched its Washington, DC private client practice in 2015, and the group has quickly established itself at the top end of this market. "The DC office has become very strong," says one peer. "They are exceptional, they have great leadership, they are knowledgeable, dependable and creative. They are our go-to people." The team handles a range of international and domestic matters for their clients, advising on asset protection, transfer of wealth and generation-skipping planning. Market commentators highlight the firm's "excellent international team." "They are terrific," enthuses another source, adding: "They seamlessly leverage the resources of the firm and they have the depth behind them." Notable practitioners: Leigh-Alexandra Basha "is extraordinary," says one interviewee. "She is multilingual, very polished, an excellent listener and she gets down to the core of issues." Basha specialises in international private wealth work, which makes up the bulk of her practice, but she also handles domestic matters as well. A DC lawyer says: "We refer our international clients to her she has an extraordinary wealth of knowledge and she is very bright and experienced." Another source highlights Basha's "interpersonal skills" as her strength, saying: "She is incredibly outgoing and her clients really like her." "She seamlessly moves in and establishes trust with the client, and brings a strong, knowledgeable presence," explains another wealth adviser. Ellen Harrison "is just brilliant," comments a source. "She is very technically deep and very creative. There is probably nothing Ellen hasn't seen she's the best in class." Harrison offers counsel on matters relating to tax and estate planning, and "is widely known as the principal expert on generation-skipping structures." One interviewee praises her "extraordinary command of the law in this area," and another describes her as "a creative thinker who knows how to think outside of the box. She has an amazing mind." 4

5 Illinois - Private Wealth Law Band 1 David Baker (Band 1) Richard Dees (Band 2) Carol Harrington (Band 1) Davie Herpe (Band 3) Richard Lang (Band 3) Band 1 David Baker (Band 1) Richard Dees (Band 2) Carol Harrington (Band 1) Davie Herpe (Band 3) Richard Lang (Band 3) The market-leading private client team at McDermott Will & Emery is known for the breadth and depth of its expertise across the full range of private wealth work. A peer describes the department as "an outstanding practice with a lot of high-quality people. They have a lot of high-quality clients, and the highest level of estate planning work in the country." The department is particularly adept in advising ultra high net worth individuals on complex planning and structuring. The team is seen by many as the "gold standard" of Illinois trusts and estates, with one source calling the group "the 800lb gorilla of the estate planning industry. It's a big part of their practice, they're very high-end and they have some marvellous minds over there." A client notes that "they have a great reputation, they're very well known, and they're a great tax firm. We've always felt that whatever advice they gave us is of a very high value and can be relied upon." Notable practitioners David Baker specializes in handling contentious trusts and estates cases and is the founder of the firm's estate, trust and guardianship controversy group. He works with high net worth individuals and regularly defends fiduciaries in cases concerning investment, wills and trust contests. Baker also advises clients on avoiding litigation in potentially contentious situations. "If you're worried about risk, he's the person to go to," one client says. "There's a situation that's come up recently, where we want to steer clear of a risk situation. He typically weighs in on how we should fix things." A peer says Baker is "outstanding," putting him "top of the list for estate and trust litigation." A peer describes Richard Dees as "a great technician, extremely smart, and the godfather of Chapter 14 of the Internal Revenue Code." A market commentator values that "he has the ability to talk in English as opposed to legalese. More than just being smart, he's practical he acknowledges that we're in the real world and he understands what everything means for his clients." Dees works with individuals and families on estate and succession planning. "I like him a lot," says a source, adding: "He's a great practitioner, a really nice person, and one of the more creative and thoughtful thinkers in the business." Carol Harrington is global head of the firm's private client practice and is widely recognized as an authority on trusts and estates. "Carol is one of the senior statespersons in the business and she's very well regarded for the breadth of her knowledge," says one peer, with another calling her "truly one of the pillars of estate planning because of her unsurpassed knowledge of generation-skipping transfer and her client base in the estate planning area." A market source says: "She's one of the 5

6 top generation-skipping lawyers in America, that's her specialty and she knows it up and down. She's scary smart and really good in communicating. She's amazing, everyone who's ever worked with her thinks that." David Herpe is described by a client as "a very pleasant person to deal with. He's very professional, he knows his stuff and he's been very creative in helping us handle our estate planning issues. We would recommend him to anybody else." He maintains a broad wealth planning practice, with expertise in the creation and use of private trust companies and insurance vehicles. He advises business owners on the transfer and reorganization of companies. One peer highlights his "excellent reputation" and another says that "I think the world of David." Experienced estate planner Richard Lang is known by peers and clients alike for his combination of intelligence and client-handling skills. A fellow lawyer notes that "he's very easy to talk to, with good client manners and presentation. He doesn't complicate things to sound smart, he just is very smart." A client says: "Dick is the essence of understated and really smart he doesn't give you any indication that he's the smartest guy in the room, but he is. He gets the combination of technical work and family dynamics. He's a great problem-solver. He's technically sound but he'll think outside the box." 6

7 New York - Private Wealth Law Band 1 Carlyn McCaffrey (Star Individuals) Band 1 Carlyn McCaffrey (Star Individuals) Henry Christensen (Band 1) Henry Christensen (Band 1) McDermott has one of the largest and most dedicated private client teams in New York. Sources praise the firm for its "very deep bench with many amazing lawyers," and highlight the team's "phenomenal breadth of expertise." Its client list includes some of the world's wealthiest people, and a source says it has a "very strong reputation for acting for some of the most prominent HNWIs in New York." The firm provides comprehensive wealth management services on a domestic and international basis, and one adviser reports that "it handles some of the most sophisticated and complex work" in this area of law. The team also wins praise for client service and the breadth of its offering for ultra-wealthy clients. "They have a great network of private trustees and wealth managers," says an interviewee; "they maintain very good relationships with other advisers in the industry." Another source enthuses: "Not only do they know the law but they are incredibly responsive to the needs of the client; they are not just our lawyers but also our trusted partners." Various market sources also emphasize the firm's contribution to the wider industry and note that "McDermott provide ongoing legal education to the market, and we hold them in the highest regard." Notable practitioners Carlyn McCaffrey is described by peers as "one of the most sophisticated practitioners in the field" and "really in a league of her own." She focuses her practice on domestic and international wealth planning for HNW clients and is recognized as a "very intelligent and very experienced attorney." McCaffrey is commended for her "phenomenal technical knowledge," and one estate planner enthuses: "She is the smartest person I have ever met - a superstar on tax issues." She is also praised for her pragmatic approach to matters, and one client reports that she does "a great job in cutting through ancillary stuff to identify the core issues and the big picture of the client's plan." Henry Christensen has over 35 years' experience in private client work and leads the firm's international practice. A New York wealth adviser says he is "very well respected and one of the most prominent lawyers in the USA" for this work, adding that he is "wonderful at dealing with clients and ensuring they're dealt with in the best possible fashion, and is also a technical expert." Another market insider reports that "he is very creative, and that is a very important ability in a tax planning lawyer," adding that "clients always feel that they are in the most capable hands when he represents them." Christensen is recognized for his skills in cross-border estate planning and multinational tax matters. "He has a fantastic breadth and depth of knowledge," says one source, adding that "he has been a trusted adviser throughout every step of the process. He is very proactive at finding the right solutions for the client - he is very solution-orientated." 7

8 Northern California & Southern California - Private Wealth Law Northern California Band 1 Southern California Band 3 Julie Miraglia Kwon (Band 1) - UP Laurelle Gutierrez (Band 2) - UP M. Read Moore (Band 1) Nicole M. Pearl (Band 2) - UP Northern California Band 1 Southern California Band 2 Laurelle Gutierrez (Band 3) Julie Miraglia Kwon (Band 2) M. Read Moore (Band 1) Nicole M. Pearl (Band 3) McDermott's private client and wealth management professionals offer clients advice on domestic and international estate and wealth transfer planning, including structuring family offices and private trust companies. Sources particularly praise McDermott's Silicon Valley office, with one fellow attorney saying: "I think it's an outstanding firm, really outstanding lawyers, some of the leading lawyers in the country. There are good people in the Northern California office. It's a top-notch firm." One market source comments: "If it's big, it's complicated and there's a lot of dollars at stake you can't go wrong with that firm." Notable practitioners: Julie Kwon is seen as "the rising star at McDermott" by market commentators in Northern California. One says: "Julie is probably the smartest lawyer I work with. I feel incredibly confident that she will pay attention to every single detail and every issue and get help if she needs it but she alone has a great amount of experience." Kwon works with many high net worth finance and technology professionals, as well as a number of family offices, offering her clients advice on gift, estate and generationskipping tax matters, charitable planning and estate and trust administration. Kwon also represents clients in contested tax and trust matters. A California attorney says: "I think very very highly of Julie Kwon, she is very sharp, she's all over the cutting-edge issues, I've collaborated with her and I really do think she is an incredible technician. I think she is top-notch." Another source describes Kwon as "a total rock star in the planning community. She has built an unbelievable practice." Read Moore is a "very well-known international specialist," who splits his time between McDermott's Silicon Valley and Chicago offices. He advises clients on all aspects of estate planning, trusts and estates administration and planning for tax-exempt organizations. Moore is also experienced in planning for US-resident non-nationals and for US citizens living abroad. California sources describe Moore as "excellent" and a "very well-respected, talented practitioner." Laurelle Gutierrez advises clients on estate planning issues including wealth transfer planning and estate, gift and generation-skipping tax planning. Based in the Silicon Valley office, Gutierrez also has experience counselling trustees and executives on probate and trust administration matters. "We like her a lot," offers one fellow attorney, "she s very smart and practical and collegial." The "great and really talented" Nicole Pearl heads the private client group at McDermott's Los Angeles office. Pearl assists corporate executives, business owners and entrepreneurs on estate, business succession and charitable planning and transferring wealth to future generations. One source describes Pearl as "definitely an up-andcomer," adding: "I like and respect her." Another says that Pearl "has a lot of knowledge and is good at finding solutions in a difficult situation." A lawyer in Los Angeles says: "I think very highly of her, she's an excellent lawyer. I've seen her work and thought she was top-notch. She is an excellent speaker, and has developed a specialization in estate planning for same-sex marriages and done an excellent job in that area." 8

9 UK London (Firms) - Private Wealth Law - NEW Band 4 - NEW Andrew Vergunst (Band 4) & (Foreign Expert for South Africa) NEW n/a n/a Astrid Owen (Band 4) NEW Nicholas Holland (Foreign expert for Canada) The London office of this market-leading private wealth firm deals with the full range of international tax planning matters for UHNW clients. A client reports that "in terms of private client work, it's complete and I can't say enough. They are extremely diligent, the package they provide is complete and there's nothing that is too small or too large for them to undertake. Their service is exemplary, their advice is spot on and they work well on cross-border matters - there's a seamless introduction between their US and UK branches." A market commentator praises the firm's use of its international resources, noting that "what they bring more than anything is their knowledge base. They're a big company worldwide, with a good team of cross-border tax partners - because their team is so knowledgeable, it's very easy to gain the information I need. Their service was very very good." Notable practitioners: The "really lovely and clever" Andrew Vergunst is well-known as a trusted adviser to clients with complex, multi-jurisdictional wealth. One client calls him "invaluable to the family. His understanding of client needs, his disposition and his knowledge base across complex structures and tax law is extremely good. He's very highly trusted." He is a qualified South African lawyer and regularly advises clients with connections to the jurisdiction. Astrid Owen is notable for her international practice, with a well-developed Middle Eastern client base and a specialism in US tax matters. As well as high net worth individuals, she regularly works with private banks, institutional trustees and single and multi-family offices. She advises on tax investigations, immigration issues and taxefficient structuring. Nicholas Holland is qualified in England and Wales, the Cayman Islands and Canada. He specialises in acting for trustees, beneficiaries and protectors in offshore trusts litigation, representing clients in various jurisdictions. 9

10 UK - Private Wealth Disputes - UP Band 3 Nicholas Holland (Band 2) Ziva Robertson (Band 2) - UP Recognized Practitioner Nicholas Holland (Band 2) Ziva Robertson (Band 3) McDermott's worldwide private wealth disputes team is focused on international trusts litigation, and is "a stellar global offering for private client work, for HNW clients with multi-jurisdictional issues." The firm has built out its UK capabilities in this area significantly in recent years. A source notes that "they are a building a real strong team there they have top lawyers." The firm is noted for its specific expertise dealing with offshore disputes, as well as trust matters with a US element. One industry insider says: "They are excellent in terms of their knowledge of international trust law." Another advisor adds: "They have worked on some truly top-level disputes with big-money clients." Nicholas Holland is a well-recognized lawyer with plenty of cross-border experience. Sources note that "he is a real expert in offshore work" and say that "he knows international matters inside out." He has been involved in many high-profile cases and is considered "a stellar name in the area with a huge amount of respect and clout in the market." "He is incredibly commercially and pragmatically minded, without losing sight of the legal position," reports an interviewee, who also says: "He is absolutely fantastic with clients they really love him." Ziva Robertson is noted for her international expertise, and described as "a wonderful lawyer with strong technical skills." She has extensive experience of dealing with offshore matters, and is highly regarded for her willingness to take novel approaches to this work. Many interviewees cite the recent Dawson-Damer case, where Robertson used English data protection law to compel the Bahamian trustees' London solicitors to give the beneficiaries access to the personal data they held about them. One interviewee notes: "She is a real player and tough litigator. I can't tell you how much I admire the sort of tactics she employs in major cases." Another market insider reports that "she has a very loyal client base they swear by her, as she is very comfortable doing ultra high-value offshore work. She is a go-to expert for UHNW trust disputes." 10

11 USA - Nationwide Band 1 Leigh-Alexandra Basha (Band 2) - UP Henry Christensen (Band 1) Carol A Harrington (Band 1) Ellen K Harrison (Band 1) David Herpe (Band 3) Julie Miraglia Kwon (Band 2) - UP Richard Lang (Band 3) Carlyn McCaffrey (Star Individual) M. Read Moore (Band 3) Nicole Pearl (Band 3) Private Wealth Disputes David A Baker (Band 1) Band 1 Leigh-Alexandra Basha (Band 3) Henry Christensen (Band 1) Carol A Harrington (Band 1) Ellen K Harrison (Band 1) David Herpe (Band 3) Julie Miraglia Kwon (Band 3) Richard Lang (Band 3) Carlyn McCaffrey (Star Individual) M. Read Moore (Band 3) Nicole Pearl (Band 3) Private Wealth Disputes David A Baker (Band 1) McDermott is recognized as "a first-class firm and undoubtedly a market leader" in private wealth law. The firm is praised for being "strong across the USA with excellent bench depth across the country." A market insider explains: "They have always been known for their depth of expertise in this area. They are very focused on the ultra- HNW clients in the USA and have some really big legacy family clients." Legal sources note that "they have some of the most prestigious clients you could imagine." The firm provides a comprehensive range of wealth management and estate planning advice. It is also known for its strong tax practice and cross-border expertise. Other advisors note they have "very good tax lawyers" and that they "offer a really premium product, especially in connection with domestic estate planning." Another source notes that "they are truly dedicated to this area of law and being at the cutting edge." Notable practitioners Carlyn McCaffrey is recognized as "one of the most well-regarded planners and a thought leader" in this field. She is further described as "certainly the most innovative lawyer in her time." Another legal advisor says: "She has done exceptional work over the years and is rightfully known as one of the most creative practitioners for her approach to estate planning." McCaffrey advises HNW clients on all aspects of estate and tax planning. She also advises wealthy families and major institutions on charitable planning and philanthropy matters. "She is like a guru of private client work and is a tremendous lawyer," enthuses one peer. A market insider summarizes: "She is one of the most brilliant legal minds in the field and has been so for decades." David Baker leads the firm's trusts, estates and guardianship litigation practice. Based in Chicago, he is noted for his strong reputation in this area and is described by one peer as "a top-level litigator with a formidable presence in court." He also handles disputes in connection with charitable foundations and not-for-profit organizations. A market insider says: "He really brings his experience as a litigator to reach favorable settlements for his clients." 11

12 Henry Christensen is co-head of the firm's private client practice in New York. "He is a fantastic strategist and provides a helicopter view of the case, which is very helpful," enthuses one market insider, adding: "He really has a very strategic mind as well as very in-depth knowledge of the law." He is recognized for his cross-border expertise and is noted for his ability to handle complex, international estate planning matters. A source says: "He is very comfortable dealing with some of the world's wealthiest families and confident at working with multi-billionaires." Carol Harrington practices in Chicago and leads the firm's global private client practice. "She has been a fantastic leader of that group," reports one source, while another interviewee notes that "she is one of the best trust and estate practitioners around." She advises on all aspects of wealth management and estate planning and is noted for her expertise in tax and succession issues. One insider reveals: "She is the world's foremost expert on generation skipping tax matters and is also an incredibly bright estate planner." Another source adds: "She is very insightful and analytical when solving complex problems." Ellen Harrison is "a lawyer with a stellar reputation in this market." She offers counsel on a wide range of wealth management matters and is further praised as "extremely technical and very creative." She advises extensively on gift, income and estate tax and is known as an expert on generation skipping structures. One market insider says: "She is one of the foremost experts on complex tax planning and can bring her significant experience to bear on such matters." Julie Kwon leads the firm's private wealth practice in Silicon Valley. She advises on all aspects of estate and tax planning, business succession and charitable giving. "I am really impressed by her," enthuses one adviser, adding that "she does excellent work and knows the law inside out." She acts for wealthy individuals, families, closely held businesses, charities and corporate fiduciaries. A market insider reports: "She is really well-ensconced with the tech clients in Silicon Valley." Sources also say she is "very knowledgeable and has a high level of understanding of the industry." Leigh-Alexandra Basha is noted for her experience in cross-border wealth planning. A market insider explains: "She is fully adept at dealing with complex international planning for non-us residents. She understands the global nature of this practice area down to a tee." She also advises on business succession, expatriation and preimmigration planning. "Her knowledge and expertise in this practice area is excellent," enthuses one source, who adds: "She has excellent commercial instincts and knows the law very well." She is further praised for her "ability to process a lot of complex information and distil it into clear advice for the client." Chicago-based David Herpe is described as "a strong all-round attorney with a good working knowledge of all aspects of trust and estate law." He advises on wealth transfer and estate planning for HNW families, business owners and corporate executives. He also has expertise in wills, trusts, life insurance and charitable planning. Another source says: "He has broad understanding and experience and can use that to determine the best course for the clients." Richard Lang is recognised as "a very experienced and intelligent trusts and estates attorney," who is "efficient, timely and pragmatic in his approach." He focuses his practice on wealth transfer and income tax planning, and regularly acts for venture capitalists, entrepreneurs and family offices. One source reports: "He really understands the sensitivities and issues which arise in estate planning for wealthy families. He has very good instincts and clients appreciate his engaging demeanour." Read Moore offers counsel on a comprehensive range of estate and tax planning matters. He is based predominantly in Silicon Valley, but also maintains an active practice in Chicago and is described as an "excellent practitioner with a national reputation." He also has significant experience in cross-border matters including wealth transfers and inbound investment into the USA. A market insider says: "I am very impressed by his level of knowledge, and he handles himself well when dealing with high-profile and prominent clients." Another source enthuses: "He is very responsive and delivers things in an efficient manner." Nicole Pearl leads the wealth management team at the firm's Los Angeles office. She regularly advises entrepreneurs, entertainment industry figures, corporate executives and real estate investors. Market insiders praise her as "a dynamic and ambitious attorney" and a "talented planner with good technical skills." 12