M&A Counsel to Run Shearman

The veteran m&a lawyer David Heleniak was named senior partner at the law firm of Shearman & Sterling in April. Heleniak says that he will spend more than half of his time on his newly shouldered administrative duties – the equivalent of becoming CEO of the firm – but will continue to provide senior-level m&a advice to clients. The 55-year-old dealmaker has spent his entire legal career at Shearman, with the exception of a 1997-1999 stint at the Department of the Treasury, where he was executive assistant to the deputy secretary and subsequently became assistant general counsel. Among the high-profile deals Heleniak has advised on are the Citicorp Inc. merger with Travelers Group Inc., Phelps Dodge Inc.’s acquisition of Cyprus Amax Minerals Co., and the merger of Minor Inc. and minerals producer Anglo-American Corp. He also advised Viacom Inc. in its acquisition of Blockbuster Inc. During his tenure as head of the Shearman m&a group from 1987 to 1995, Heleniak presided over what he describes as a New York City-based practice. He notes that the firm’s m&a operations have now expanded to become a global practice tracking the internationalization of its clients’ deal flow. As the firm’s m&a duties have become increasingly global, the new senior partner has been able to draw on his tenure as head of the firm’s Hong Kong office from 1981 to 1984 to provide an international perspective on m&a. While posted there, he represented China National Coal Development Corp. in the first major joint venture completed by a Chinese entity with a U.S. partner. Looking forward, Heleniak says he doesn’t expect the Bush administration regulatory regime to be markedly different from its predecessor. He also notes that on the type of large deals that Shearman handles, European competition policy can be as much a factor as domestic review. “While we may see that the Bush regulators are less likely to think that big is bad, even if there is a lessening of antitrust scrutiny here, there is likely to be more aggressive enforcement in Europe.” He says that European antitrust officials are more likely to be an unreceptive audience for large deals. “One of the important tests in European enforcement is whether competitors are concerned about a deal, while the U.S. policy is more dependent on the impact of a deal on prices and consumers.” On an issue closer to Shearman’s Wall Street roots, Heleniak notes that despite some recent high-profile defections by dealmakers from the m&a bar to investment banks, the role of the m&a lawyer is still an attractive one. “We are dealmakers, and although we don’t give advice about the price of deals, we do raise questions about areas that are key parts of any deal.” While he acknowledges that some m&a bankers can make more money than m&a lawyers, he notes that these differences are relative and says that a career at Shearman & Sterling as a dealmaker can be very fulfilling. Service Appointments Adams Harkness & Hill – This Boston-based investment banking boutique named Denis Campbell, one of the three co-founders of Regent Associates, a U.K.-based m&a lending adviser, to head up its newly launched European offices in London and Paris. Barclays Capital – Robert P. McKillip, Alok Singh, and Christopher P. Kinney were named managing directors at this firm, the investment banking arm of Barclays Bank PLC. Clifford Chance Rogers & Wells – Scott Talmadge has joined this law firm’s financial restructuring and insolvency practice in New York. He had held a similar position at Morgan Lewis. Credit Suisse First Boston – Terry Kawaja was hired by this investment bank to co-head its media m&a group. He had been CFO at Evoke Communications. Dain Rauscher Wessels – John N. Deal was named managing director and co-head of the firm’s communications technology investment banking team. He had worked for J.P. Morgan. Harpeth Capital LLC – Geoffrey L. Faux has joined this mid-market investment bank as a managing director. Previously, he headed up eMD, a health care services company. Heller Financial Inc. – This commercial finance company announced the formation of Heller Financial Advisors Group. It will provide m&a services to Heller’s corporate finance clients. Senior team members at the new unit are Frederic D. Floberg, Philip R. Clarke III, and Jacqueline L. Archer. Most recently, the three executives were managing directors of ABN AMRO’s North American investment banking operation in Chicago. Morgan Stanley Dean Witter – Dr. Richard Foster was named global marketing and strategy officer for the firm’s investment banking division. He had been a managing director at Booz, Allen & Hamilton. Rothschild North America Inc. – Neil Augustine and Steve Ledoux were hired as managing directors in the firm’s corporate restructuring group. Both men had worked for Morgens, Waterfall, Vintiadis & Co., a firm that specializes in distressed securities. Salomon Smith Barney – Eric Meadow was picked to co-head the firm’s telecommunications m&a efforts. He had been a managing director at Carlyle Group. Shearman & Sterling – Christopher Bright, a veteran antitrust lawyer, was hired by this New York-based law firm. He had headed Clifford Chance Rogers & Wells’ European competition practice. Thomas Weisel Partners – Rick Beatty was hired as a partner in the corporate financing group. He had been with Bear Stearns. U.S. Bancorp Piper Jaffray – David M. Jacquin and Jason Hutchinson were named to the firm’s technology and communications m&a group. Jacquin will head the group. Both men previously were managing directors in the San Francisco office of Merrill Lynch, concentrating on technology m&a. Weil, Gotshal & Manges – Stephen E. Jacobs, a senior m&a lawyer, is being transferred to London. He will retain his position as head of the firm’s corporate department. White & Case – David A. Balto, most recently director of policy in the Federal Trade Commission’s competition bureau, has signed on at the Washington office of this law firm. His practice will include m&a, intellectual property, and other areas. Buyout Appointment Carlyle Group – Arthur Levitt, the former Chairman of the Securities and Exchange Commission, has joined Carlyle Group, a Washington, D.C., private equity group. Also coming aboard from the Clinton administration is former Federal Communications Commission head William Kennard. Evercore Partners – William Daley, a former Commerce Secretary, joined Evercore Partners, a New York private equity firm. Perseus LLC – Richard Holbrooke, most recently a U.S. representative at the United Nations, joined this merchant bank and private equity investing company. Also joining Perseus is James A. Johnson, formerly CEO of Fannie Mae. Thayer Capital Partners – William Cohen, former U.S. Secretary of Defense, has joined the board of this Washington, D.C.-based private equity firm. He had been chairman and CEO of Cohen Group, a strategic consulting firm. Corporate Appointments Atrix – Charles Cox was selected to serve as SVP of corporate development at this specialty pharmaceuticals company. He had worked in product and business development at the company. Capstone Turbine Corp. – Harol Koyama was named VP of business development at this producer of low-emission micro-turbines. He had been director of strategic planning for United Technologies Corp. JNI Corp. – Frank Bellucci was tapped to become VP of business development at this manufacturer of network storage products. He had held a similar post at Agilent Technologies Inc. Peregrine Semiconductor Corp. – Peter L. McAdam was named VP of corporate development at this manufacturer of integrated circuits. He had been executive director at TRW Ventures. Pharmacia Corp. – Richard Van Duyne was named SVP of business development at this pharmaceuticals company. He will be responsible for acquisitions, equity investments, joint ventures, and strategic alliances. He had been managing director at MedPointe Capital Partners. Quova Inc. – Kevin Wandryk was named SVP of corporate development at this Internet infrastructure company. He had been SVP of business development at AdKnowledge, an Internet company. RestaurantTrade – Michael Weisser was named senior director of business development at this software company. He previously worked as an m&a lawyer at Skadden, Arps, Slate, Meagher & Flom. SPACE.com – John C. Ferrara was named president and CEO at this space multimedia company. In his new position, Ferrara will oversee corporate strategy, acquisitions, and operations for the company. He had been CFO. Varian Medical Systems – John Anderson Thorson II was named VP of business development at this manufacturer of cancer therapy systems. He had been a director at Pegasus Capital, a boutique investment bank in Singapore. He will be a primary driver of the company’s strategic plans for growth through acquisition of businesses.