Legal News

Dechert Grabs Head of Fried Frank Financial Institutions Group, Two Others

By Brian Harris

By Gina Passarella
Of the Legal Staff

Dechert has added three heavy hitters in Washington, D.C., from Fried Frank Harris Shriver & Jacobson?s office there.

The firm brought on Thomas P. Vartanian, who headed up Fried Frank?s financial institutions transaction group, along with partners David L. Ansell and Robert H. Ledig.

Dan Binstock, managing director of BCG Attorney Search in Washington, said Fried Frank had a strong investment management practice and the departure of Vartanian, Ansell and Ledig ?does hurt it.?

He said Dechert is known for its investment management practice and was probably a draw for the group for that reason. He said the addition was ?definitely a good catch? for Dechert in a time when it looks like the regulatory environment regarding private equity groups and hedge funds will be increasing.

Vartanian, Ansell and Ledig have worked together for more than 25 years counseling commercial and investment banks, holding companies, housing-oriented government-sponsored enterprises, or GSEs, broker-dealers, private equity investors, hedge funds, credit unions, technology companies, state governmental entities and financial trade associations.

?We are pleased to welcome such a dynamic team to the firm,? Dechert Chairman Barton J. Winokur said in a statement. ?Tom, David, and Bob enjoy high-industry profiles, and together they form one of the premier bank regulatory practices in the United States. This is a critical time for the industry as it faces a sea change in the regulatory environment. Their shared talents and experience will further enhance our brand as a leader in the representation of financial services firms.?

Vartanian advises clients in the financial services industry in a wide variety of matters, including mergers and acquisitions and private equity transactions; reorganizations, recapitalizations, and acquisitions of distressed banks; purchases from the FDIC as receiver for failed institutions; and matters involving GSEs. Vartanian previously served as general counsel of the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation.

?Our areas of focus are well-suited to the firm?s established practices and global resources, and we believe our clients will be well-served by this move,? Vartanian said in a statement.

Ansell advises financial services companies on the formation and execution of corporate transactions, particularly with bank regulatory matters. Ledig advises financial institutions on corporate, regulatory and enforcement and litigation issues.

Full post as published by The Legal Intelligencer Blog on June 21, 2010 (boomark / email).