Trainee Solicitors AN EXCEPTIONAL OPPORTUNITY Copyright © 2011 Sullivan & Cromwell LLP ABOUT SULLIVAN & CROMWELL
Introducing S&C
Sullivan & Cromwell provides the highest quality legal advice and representation to clients around the world. The results we achieve have set us apart for nearly 130 years and become a model for the modern practice of law.
At S&C, there is no such thing as second best – our culture of meritocracy, responsibility and opportunity ensures the success of each and every new employee.
We hope this brochure gives you an insight into S&C, and the factors that distinguish us from other law fi rms. If you are interested in working with the world’s leading companies on their most challenging matters, and you feel that you have the qualities we are looking for, we encourage you to apply for a training contract with us.
1
History
Since its foundation in New York in 1879, S&C has been involved in some of the most signifi cant international business transactions and developments. This extends from working on the development and fi nancing of the Panama Canal to advising governments, companies and investment banks on many of the major privatisations in the UK and Europe and being at the forefront of most of the major transactions and developments during the global fi nancial crisis of 2008.
More information about the history of S&C can be found at: www.sullcrom.com/about/history
In 2011, in its fourth annual Transatlantic Elite survey, The Lawyer named S&C as one of the “sweet sixteen” law fi rms that will shape the global market in the year ahead – the Firm has been recognised every year since the survey’s inception.
3
S&C London
The London offi ce, established in 1972, is S&C’s largest offi ce after New York. There are approximately 65 English, US and dual-qualifi ed lawyers working in the offi ce across a number of practice areas, including: M&A and private equity; capital markets; credit, leveraged and acquisition fi nance; project fi nance; competition law; criminal defence and investigations and tax. S&C London is perhaps unique in the scale, complexity and signifi cance of the work carried out in an offi ce of its size.
Since 1999, S&C’s London offi ce has included partners and associates advising on English and EU law. Over the past decade, we have taken a series of initiatives to strengthen and develop our English and EU law practice, while continuing to grow the practice organically. The development of a trainee solicitor programme is an important and exciting step in this organic growth. We expect to further develop the practice over the coming years in response to the needs of our clients.
More information about the work recently done in the London offi ce can be found at: www.sullcrom.com/London-England
“They have the reputation of being the Rolls-Royce of law fi rms and our experience is that they really are – they deliver a whole different kind of quality.”
CHAMBERS UK
2011
5 Integrated Legal Services Worldwide
S&C has more than 700 lawyers across an international network of 12 offi ces on four continents. We maintain a unifi ed fi rm culture worldwide and provide our clients with highly integrated legal advice on a global basis.
The offi ce locations refl ect our strategy to be present in key fi nancial and business centres where our clients are active. Approximately half the Firm’s clients are based outside the US.
LONDON FRANKFURT
PARIS BEIJING
TOKYO
HONG KONG
ASIA/PACIFIC 35+ LAWYERS EUROPE 100+ LAWYERS Tokyo (1987) London (1972) Hong Kong (1992) SYDNEY Paris (1927) Beijing (1999) MELBOURNE Frankfurt (1995) Melbourne (1983) Sydney (2001)
6 Unique Business Model
S&C is committed to being a global organisation. Unlike many law fi rms with an international reach, S&C has built its network of offi ces not by acquiring fi rms or hiring large numbers of lawyers from other fi rms, but by developing offi ces to serve client needs and staffi ng them primarily with lawyers who have been with S&C for their entire careers.
Almost all of our partners have spent their entire professional lives with the Firm, and approximately half have spent a signifi cant portion of their careers in more than one of our 12 offi ces.
Our business model sets S&C apart from many less integrated law fi rms that are characterised as “international” and from other law fi rms that are more domestic in their focus. This provides a unique opportunity for those lawyers PALO ALTO NEW YORK WASHINGTON, D.C. LOS ANGELES wishing to work on some of the most interesting and high-profi le transactions, both in Europe and across the globe.
UNITED STATES 600+ LAWYERS
New York (1879) Washington, D.C. (1977) Los Angeles (1984)
Palo Alto (2000)
7
OPPORTUNITIES AT SULLIVAN & CROMWELL
Our success is the result of the quality of our lawyers, the most broadly and deeply trained team of lawyers in the world. Since S&C was fi rst founded, our approach has been to recruit the very best US law school graduates and train them to be all-round “generalist” business lawyers within broad practice areas. We promote lawyers to partner almost entirely from among our own associates. The result is a partnership with a unique diversity of experience, exceptional professional judgement and a demonstrated history of innovation.
We are now replicating this model in London. Starting in September 2013, S&C will for the fi rst time employ trainee solicitors in its London offi ce. By recruiting the very best law and non-law students and graduates to train as solicitors with a view to continuing their careers with us, we aim to continue the organic growth of our London offi ce and our English and EU law practices. We see our trainees as the future associates and partners of the Firm.
“The selling point [of S&C] is that the team is incredibly high calibre. There are no weak links – including associates. All their associates seem to have been hand-picked; they’re all incredibly bright and hardworking.”
IFLR 1000 2011
9 OUR TRAINEE PROGRAMME
The Programme
Although our London offi ce has been in existence for nearly 40 years, we did not want to start a trainee solicitor programme until we were confi dent that it would be one of the best of its kind.
Training contracts with S&C will be divided into four six-month seats, covering at least three practice areas as required by the Solicitors Regulation Authority. As a trainee you will, in each seat, be supervised by a partner who is a leader in his or her fi eld, as well as other senior lawyers, to guide you through your work and help ensure that you are engaged and challenged by interesting work. The partners and senior lawyers you are working with will ensure that you see a range of outstanding work, and receive guidance to help you make the transition from academic study to legal practice.
We will offer our trainees the opportunity to do superior work, meet exceptional people and grow in a supportive culture. We aim to distinguish our trainee programme by offering genuine mentoring from partners and other senior lawyers who will take a keen interest in your career development.
10 International Opportunities
Although our trainees will be working on international work every day in London, we will aim to provide trainees who are interested in spending time in one of our other offi ces with the opportunity to do so during their training contract.
This will primarily be in our New York or Hong Kong offi ces, although there may also be openings for trainees to spend time in one of our other offi ces in Europe or Asia.
We have had a visiting lawyers programme in our New York offi ce since 1949. Our trainees who spend time in New York will have similar opportunities to those we have provided to our hundreds of visiting lawyers over the past 60 years.
Quality of Work
We avoid routine and commoditised work, and focus on work which is interesting and challenging. In all our practice groups, you will work with small teams of partners and associates. Refl ecting the integrated and international nature of our practice, the teams will often include both US and English qualifi ed lawyers in London, as well as lawyers from other offi ces, working together in a highly integrated way.
From an early stage, you will be encouraged to take real responsibility. This will include: preparing draft written advice; participating in meetings and conference calls; dealing with clients and other lawyers on a regular basis; reviewing and drafting contracts, notices, letters and other documents; reviewing and drafting public disclosure documents; co-ordinating the signing and closing of transactions; carrying out research into specifi c questions of law or practice and participating in discussions on tactics and strategy.
You will be constantly challenged but, with help and guidance from our experienced lawyers, you will soon fi nd your feet.
11 OUR PRACTICE AREAS
General Practice
A seat in our General Practice group will provide a thorough and broad-based training in the legal, technical and organisational skills required to be a successful all-round business lawyer.
Our General Practice group in London is made up of lawyers working in a wide range of different practice areas, including the following:
MERGERS AND ACQUISITIONS PROJECT FINANCE – where we (M&A) – where we help clients of advise project sponsors, lenders and all sizes to structure, negotiate, governments and other agencies complete and implement all types on the development, construction of M&A transactions, including and operation and fi nancing of acquisitions, disposals, joint some of the world’s most signifi cant ventures, partnerships, minority infrastructure and natural investments and strategic alliances, resources projects across all industry sectors CREDIT, LEVERAGED AND
CAPITAL MARKETS – where we work ACQUISITION FINANCE – where with both issuer and underwriter we work with borrower and lender clients on some of the largest, clients on all types of fi nancing most complex and most signifi cant arrangements (including bank and securities transactions, whether bond fi nancing being raised for involving shares, bonds or other acquisitions, the refi nancing and/ securities or restructuring of existing bank or bond fi nancing, or bank or bond PRIVATE EQUITY – where we fi nancing which is secured against advise some of the world’s leading particular assets or revenues) privately managed funds on all aspects of investments made by REAL ESTATE – where we work with them, including in relation to M&A, investors on their investments in consortium arrangements and real estate transactions in a wide fi nancing range of countries
In other fi rms with a more departmentalised approach, each of these practice areas would be organised so as to be separate and distinct from one another, and lawyers assigned to one practice area would not work in any other practice area. We believe, however, in exposing our lawyers and trainees to a wide range of different practice areas, both to enable them to follow their interests and abilities as well as to help them develop into better, more well rounded lawyers.
12 Competition
A seat in our EU competition law group will expose you to a varied spectrum of work. This could involve merger control work, where you will work on competition law aspects of M&A transactions and help obtain the requisite competition law approvals. We also represent companies under investigation by the European Commission or relevant national authorities for alleged breach of competition law, as well as providing advice to clients on general competition law issues and on EU state aid issues.
Tax
The Firm’s UK tax group deals with a variety of contentious and non-contentious UK and cross-border tax work, involving not just the London offi ce but also other S&C offi ces worldwide. We routinely advise on tax aspects of M&A, private equity, capital markets and other fi nancing transactions, the setting-up of investment funds and the tax aspects of employee incentives. Tax is a fast-moving area, where EU and other international developments are increasingly signifi cant, and we are active in publicising all relevant developments.
In 2009, S&C represented Silver Lake Partners and other investors on their purchase of a controlling stake in Skype. In 2011, S&C represented the same parties on the sale of their entire stake in Skype to Microsoft.
In 2011, S&C represented Apollo Management and CVC Capital Partners on their $1.4 billion acquisition of Brit Insurance, the sponsor of the England cricket team.
In 2011, S&C represented the underwriters on the €1 billion bond offering by Jaguar Land Rover.
13
Formal Training
We believe that the best training is hands-on experience and we also recognise the importance of formal training.
Your training will start even before you join us. In the year prior to joining, you will undertake a Legal Practice Course (LPC) and Professional Skills Course (PSC) that not only fulfi l the mandatory requirements of the Solicitors Regulation Authority, but have been specifi cally designed to prepare our trainees, and those from other similar fi rms, for their future careers.
When you join us, you will take part in an induction programme introducing you to the way we work in London and use of our information technology, library and research, legal assistant and other offi ce resources. You will also attend our week-long orientation programme in New York, learning more about the Firm and getting to know your colleagues from elsewhere in our network.
Throughout your training contract, you will attend regular formal group training sessions on the key building blocks of commercial legal practice. These will include a training programme designed specifi cally for trainees and given by our partners and associates, as well as external speakers and training providers. In addition, all of our other in-house training sessions will be open to our trainees to attend. Some of these sessions involve video link-ups with other offi ces, helping you to get a feel for the international issues relevant to our practice.
Pro Bono
S&C is committed to the communities in which we practise. The Firm encourages lawyers to work on pro bono as a way to enhance skills through work that might not otherwise be available to them. Our trainees will also be encouraged to do so.
Recent pro bono work undertaken in the London offi ce includes advice to a number of charities and not-for-profi t organisations in the UK, the US and overseas. In addition, a growing number of lawyers in the London offi ce participate in the Lawyers in Schools programme, in which they lead discussions on topics such as citizenship, youth justice, human rights, family law and government in secondary schools in some of London’s most deprived boroughs.
14
SUPPORTIVE CULTURE
We understand that, even for the brightest and most ambitious students and graduates, the move from academic study to legal practice can be daunting. However, by offering a friendly, supportive culture, with regular contact with partners and associates who will guide and mentor you, we aim to make this transition as easy as possible.
Our partners and associates operate an “open door” policy and will be only too happy to fi nd time to talk to you about issues you encounter. The broad range of our practice means that we all, even at the most senior level, encounter new issues and challenges, and a collegial and supportive approach is key to the Firm’s continued success.
Life at the Firm is not all hard work. Lawyers enjoy regular social, sporting and cultural events, and are encouraged to pursue outside interests and passions. We have an excellent subsidised restaurant on site, and subsidised membership of a private health club and gym in our building. A concierge service is available to help you organise all life’s little details.
“When the partners say they’re going to be involved in the project, they get involved.”
CHAMBERS UK 2011
17 WHO SHOULD APPLY
For our trainee programme, we aim to employ the brightest minds regardless of subject studied at university.
We seek trainees who have strong academic credentials (including a projected or achieved First or Upper Second Class honours degree (or equivalent)) as well as an excellent prior academic record. Most important, however, you should also have genuine intellectual curiosity, integrity, common sense, commercial awareness and an ambition to succeed as a lawyer at one of the world’s leading law fi rms. Strong interpersonal skills will also be important: we are looking for genuine team players.
While we expect most of our applicants to be penultimate year law students and fi nal year non-law students, graduates and post-graduates are also eligible.
There is no “S&C type”. Our lawyers come from a diverse range of backgrounds. Along with our commitment to superior legal service, S&C is equally dedicated to fostering a diverse and inclusive work environment. Not only do we believe that this is the right thing to do, but we also believe that diversity is vital to recruiting the best lawyers and to providing the highest level of service to our clients. Our culture and policies value the unique abilities and perspectives of every individual, and support diversity in its broadest sense.
18 19 SUMMER VACATION SCHEME
We are offering a two-week summer vacation scheme for candidates interested in joining us as a trainee.
During these two weeks, you will shadow a partner or senior lawyer to help you get a feel for our work and culture. There will also be opportunities to meet socially the people who work at S&C, and we aim to make this an interesting, rewarding and enjoyable introduction to the Firm.
Participants in the summer vacation scheme will be paid not less than £350 per week to cover expenses
20 SALARY AND BENEFITS
We offer the most attractive trainee salary and benefi ts package of any major law fi rm in London.
We will cover Graduate Diploma in Law (GDL) and Legal Practice Course (LPC) fees for prospective trainees who accept our offer of a training contract. We will also pay a maintenance grant.
The salary for trainees will not be less than £50,000 in the fi rst year, and not less than £55,000 in the second year. The salary for newly qualifi ed associates is currently £97,500.
Our associates normally receive a discretionary bonus paid at the end of each calendar year, and trainees will also be eligible to receive a portion of any discretionary bonus that our newly qualifi ed associates receive.
In addition, we offer a comprehensive suite of employee benefi ts, including: private health insurance; dental insurance; life insurance; travel insurance; group personal pension scheme with option to contribute via salary sacrifi ce; paid maternity, paternity and adoption leave plans; subsidised gym membership; concierge service; and 24 vacation days (plus bank holidays) each year.
21 APPLICATION PROCESS
Summer Vacation Scheme
To make an application for the 2012 summer vacation scheme, please send a copy of your CV (including a full classifi cation and percentage breakdown of all academic results) and a covering letter to [email protected]
We will be accepting applications for our 2012 summer vacation scheme from 1 November 2011 through 31 January 2012.
We expect to offer 4-6 places on our 2012 summer vacation scheme.
Training Contracts
To apply for a training contract starting in 2014, please send a copy of your CV (including a full classifi cation and percentage breakdown of all academic results) and a covering letter to [email protected]
We will be accepting applications for our 2014 trainee intake from 1 May through 31 July 2012.
We expect to offer up to 4 training contracts starting in 2014.
22 APPLICATION TIMELINE
Penultimate Year Law Student
Apply for summer vacation scheme from .... 1 November 2011
Summer vacation application deadline ...... 31 January 2012
Interviews for vacation scheme(s) ...... February 2012
Attend vacation scheme(s) in ...... June/July 2012
Apply for training contract from ...... 1 May 2012
Training contract application deadline ...... 31 July 2012
Interviews for training contracts in . . . August/September 2012
Commence fi nal year at university ....September/October 2012
Commence LPC ...... September 2013
Commence training contract ...... September 2014
Final Year Non-Law Student
Apply for summer vacation scheme from .... 1 November 2011
Summer vacation application deadline ...... 31 January 2012
Interviews for vacation scheme(s) ...... February 2012
Attend vacation scheme(s) in ...... June/July 2012
Apply for training contract from ...... 1 May 2012
Training contract application deadline ...... 31 July 2012
Interviews for training contracts in . . . August/September 2012
Commence GDL ...... September 2012
Commence LPC ...... September 2013
Commence training contract ...... September 2014
23 OUR OFFICE
Contact Details
Sullivan & Cromwell LLP 1 New Fetter Lane London EC4A 1AN
Tel: 020 7959 8900 Fax: 020 7959 8950
Email: [email protected] Website: www.sullcrom.com
Where to Find Us A YS I RE F HAT ARRI N USE ST N O TON GRDN. H ROAD N
G ARTER CHANCERY D CH ON LANE
S
H O L B O R N T H I G H H O L R B O R N EET
E H C N O L H E B A O R
A N L N HOLBORN N V A I A R D C U
L C E E T
R R T N E Y T W G E S A T F H E L TTE
A O LINCOLN'S E W N E KINGSWAY F E INN FIELDS E N L
1 NEW FETTER LANE A
N
E
S T R . B E CITY R T I D T THAMESLINK E E F
N
E
S T R E E T W F L E E T L ROYAL U D G A
B T COURTS E H R I L L
OF I
D
JUSTICE G
E
S C H T Y D R W N E D A L T R E A S T
ALDWYCH BLACKFRIARS
D
N
A R T ILL
S
H
TEMPLE
N
BLACKFRI E N T W O A N K M H I E M B I T E L WATERLOO BRIDGE I A T O R
V I C
A
RS THAMES RIVER
B
R 24 ID
G
E www.sullcrom.com london . paris . frankfurt new york . washington, d.c. . los angeles . palo alto tokyo . hong kong . beijing . melbourne . sydney
LG4300