Paul Weiss (NY), Debevoise (NY), Latham (NY) Forum

[mp33]

Hi All - looking for some guidance.

Background: I'm interested in M&A with an entertainment slant, also want a firm with solid shareholder activism/ takeover defense track record. I am from the Northeast and see myself staying in NYC for the foreseeable future (which is why I share some reserves about Latham. M&A deals split amongst Silicon Valley, Chicago, & NYC - also most of their shareholder activism is in Chicago. I feel like I am leaning towards PW based on Chambers - but understand what comes with Barshay (good + bad). Culture is important, but worked as an investment banker in NYC prior to law school and know I can handle that lifestyle for a few years and I'm more concerned with getting interesting deals and good training for next steps ( in-house at entertainment company or advisory on corporate governance matters). I know this is niche, but any input is appreciated.

[Anonymous User]

Congrats on the three offers!

As someone going to one of the firms this fall for M&A, I'm gonna share my thoughts on this.

1. Culture: The three firms, IMO, have pretty distinct cultures. PW and Debevoise are traditional white shoe firms with deep roots in NYC, where the culture is more on the conservative side. Latham, on the other hand, as a LA-based firm, is slightly more collegial and more casual.
2. Work: PW and Debevoise would give you more opportunities to work on mega deals while Latham would give you more opportunities for middle market PE deals. Latham NY does not have too much exposure to traditional strategic M&A deals like PW and Debevoise. Exits for all three would be decent and similar.
3. Location: Latham and PW are at the center of midtown. Debevoise is at midtown east. This might matter to you for commute and quality of life concerns.

[Anonymous User]

Congrats on the three offers!

As someone going to one of the firms this fall for M&A, I'm gonna share my thoughts on this.

1. Culture: The three firms, IMO, have pretty distinct cultures. PW and Debevoise are traditional white shoe firms with deep roots in NYC, where the culture is more on the conservative side. Latham, on the other hand, as a LA-based firm, is slightly more collegial and more casual.
2. Work: PW and Debevoise would give you more opportunities to work on mega deals while Latham would give you more opportunities for middle market PE deals. Latham NY does not have too much exposure to traditional strategic M&A deals like PW and Debevoise. Exits for all three would be decent and similar.
3. Location: Latham and PW are at the center of midtown. Debevoise is at midtown east. This might matter to you for commute and quality of life concerns.

To add to thought #3, Debevoise is moving from midtown east to a very fancy building in Hudson Yards in the next couple of months, in case that matters to OP!

[flyingboy92]

Hi All - looking for some guidance.

Background: I'm interested in M&A with an entertainment slant, also want a firm with solid shareholder activism/ takeover defense track record. I am from the Northeast and see myself staying in NYC for the foreseeable future (which is why I share some reserves about Latham. M&A deals split amongst Silicon Valley, Chicago, & NYC - also most of their shareholder activism is in Chicago. I feel like I am leaning towards PW based on Chambers - but understand what comes with Barshay (good + bad). Culture is important, but worked as an investment banker in NYC prior to law school and know I can handle that lifestyle for a few years and I'm more concerned with getting interesting deals and good training for next steps ( in-house at entertainment company or advisory on corporate governance matters). I know this is niche, but any input is appreciated.

If you are interested in entertainment-related M&A, I think Latham has an edge here. Take a look at their website, they've done a number of deals in this space in the last year (Justin Hamill in particular).

PW isn't just Barshay, Apollo is a huge client of theirs, though they are not an easy client to work for.

Overall, would say Latham and PW have an edge over Debevoise.

[Anonymous User]

Hi All - looking for some guidance.

Background: I'm interested in M&A with an entertainment slant, also want a firm with solid shareholder activism/ takeover defense track record. I am from the Northeast and see myself staying in NYC for the foreseeable future (which is why I share some reserves about Latham. M&A deals split amongst Silicon Valley, Chicago, & NYC - also most of their shareholder activism is in Chicago. I feel like I am leaning towards PW based on Chambers - but understand what comes with Barshay (good + bad). Culture is important, but worked as an investment banker in NYC prior to law school and know I can handle that lifestyle for a few years and I'm more concerned with getting interesting deals and good training for next steps ( in-house at entertainment company or advisory on corporate governance matters). I know this is niche, but any input is appreciated.

If you are interested in entertainment-related M&A, I think Latham has an edge here. Take a look at their website, they've done a number of deals in this space in the last year (Justin Hamill in particular).

PW isn't just Barshay, Apollo is a huge client of theirs, though they are not an easy client to work for.

Overall, would say Latham and PW have an edge over Debevoise.

Barshay brings in the Apollo work. Heard it's pretty toxic.

[Anonymous User]

Hi All - looking for some guidance.

Background: I'm interested in M&A with an entertainment slant, also want a firm with solid shareholder activism/ takeover defense track record. I am from the Northeast and see myself staying in NYC for the foreseeable future (which is why I share some reserves about Latham. M&A deals split amongst Silicon Valley, Chicago, & NYC - also most of their shareholder activism is in Chicago. I feel like I am leaning towards PW based on Chambers - but understand what comes with Barshay (good + bad). Culture is important, but worked as an investment banker in NYC prior to law school and know I can handle that lifestyle for a few years and I'm more concerned with getting interesting deals and good training for next steps ( in-house at entertainment company or advisory on corporate governance matters). I know this is niche, but any input is appreciated.

If you are interested in entertainment-related M&A, I think Latham has an edge here. Take a look at their website, they've done a number of deals in this space in the last year (Justin Hamill in particular).

PW isn't just Barshay, Apollo is a huge client of theirs, though they are not an easy client to work for.

Overall, would say Latham and PW have an edge over Debevoise.

Barshay brings in the Apollo work. Heard it's pretty toxic.

Worked at one of the firms, so Anon. Barshay does not bring in Apollo. Barshay brought in the public/strategic M&A referenced above. Laura Turano, Krishna Veeraraghavan, Kyle Seifried all do the public M&A.

Apollo came in via a group of partners from O’Melveny that joined in ~2011. John Scott, Greg Ezring, Mark Wlazlo, etc. Taurie Zeitzer (from Kirkland) does Apollo as well.

With all that said, definitely can’t go wrong. PW is very much a NY-centric firm, so it has a “smaller” firm feeling to it than Latham. Perhaps Deb as well, but they’re more probably in between PW and LW. All 3 have great work. I’d say LW has the broadest platform (lenders, borrowers, middle market PE, jumbo PE, tech, etc.), but PW has been broadening as has Deb. I’ve heard Deb has the “nicest”/most genteel culture of the 3, fwiw.

[Anonymous User]

At Latham so biased and anon. If you’re very interested in entertainment work then Latham hands down wins this bout. There are surprisingly broad opportunities to get this kind of work within the M&A group of the interest is made known and recently an M&A associate who did a lot of entertainment work has moved within the firm to do almost exclusively entertainment work.

Latham also does extensive cross-office staffing, even before COVID, so if you’re interested in work that is mostly sourced out of a different office then you can certainly reach it. However, that sort of arrangement will naturally require more legwork on your part for making those connections, though I think it’s easier at Latham than most firms.

[Anonymous User]

I know Latham certainly has a more robust entertainment practice, but in terms of NY corporate entertainment PW seems to be in Band 1 compared to Latham Band 3, mainly because of the work of Robert Schumer - something to consider

[Anonymous User]

Hi All - looking for some guidance.

Background: I'm interested in M&A with an entertainment slant, also want a firm with solid shareholder activism/ takeover defense track record. I am from the Northeast and see myself staying in NYC for the foreseeable future (which is why I share some reserves about Latham. M&A deals split amongst Silicon Valley, Chicago, & NYC - also most of their shareholder activism is in Chicago. I feel like I am leaning towards PW based on Chambers - but understand what comes with Barshay (good + bad). Culture is important, but worked as an investment banker in NYC prior to law school and know I can handle that lifestyle for a few years and I'm more concerned with getting interesting deals and good training for next steps ( in-house at entertainment company or advisory on corporate governance matters). I know this is niche, but any input is appreciated.

If you are interested in entertainment-related M&A, I think Latham has an edge here. Take a look at their website, they've done a number of deals in this space in the last year (Justin Hamill in particular).

PW isn't just Barshay, Apollo is a huge client of theirs, though they are not an easy client to work for.

Overall, would say Latham and PW have an edge over Debevoise.

Barshay brings in the Apollo work. Heard it's pretty toxic.

This is incorrect. Scott's bread and butter is public company boards and takeovers. The Apollo/PW relationship predates Scott's arrival to the hiring of Taurie Zeitzer from K&E and others before her (Ezring, Okun, Finkelstein) from OMM in like 2011. It has recently been bolstered by the pair of Apollo-servicing partners they snagged from Akin Gump recently and the open-door secondment program to Apollo for PW associates.

[Anonymous User]

Hi All - looking for some guidance.

Background: I'm interested in M&A with an entertainment slant, also want a firm with solid shareholder activism/ takeover defense track record. I am from the Northeast and see myself staying in NYC for the foreseeable future (which is why I share some reserves about Latham. M&A deals split amongst Silicon Valley, Chicago, & NYC - also most of their shareholder activism is in Chicago. I feel like I am leaning towards PW based on Chambers - but understand what comes with Barshay (good + bad). Culture is important, but worked as an investment banker in NYC prior to law school and know I can handle that lifestyle for a few years and I'm more concerned with getting interesting deals and good training for next steps ( in-house at entertainment company or advisory on corporate governance matters). I know this is niche, but any input is appreciated.

If you are interested in entertainment-related M&A, I think Latham has an edge here. Take a look at their website, they've done a number of deals in this space in the last year (Justin Hamill in particular).

PW isn't just Barshay, Apollo is a huge client of theirs, though they are not an easy client to work for.

Overall, would say Latham and PW have an edge over Debevoise.

Justin Hammill came to L&W from PW and his main client is Endeavor/IMG. PW still has a lot of entertainment work (and fashion). Michael Vogel, Ariel Deckelbaum, Jeff Marell, Schumer (represents CBS) all active in that sector.

At Latham you may get onto that coveted sports/entertainment work with Justin Hammill, but you may also get stuck doing One Rock and similarly inane middle market PE auctions with that sniveling baby Alex Johnson and his lackey Javier Stark, but at PW you will have broad exposure to mega-deals across industries. Would you really be upset at working on a WSJ-headline takeover battle because it was in chemicals and not entertainment? Because you are more likely to find those types of assignments at PW than Debevoise or L&W.

[Anonymous User]

At Latham so I am probably bias, but the corporate group has a great culture and is genuinely a good place to work. It was very different from what I expected. From what I have heard from friends at PW/Debs I doubt they are nicer.

[LBJ's Hair]

right answer is prob PW but I would not want to bill 1,000+ hours a year on Apollo work...(not that everyone at PW does but there's definitely a possibility of it)

[Anonymous User]

Anyone know just how toxic PW is?

[Anonymous User]

Anyone know just how toxic PW is?

I loved working there, even at 400 hours a month.

[Anonymous User]

Anyone know just how toxic PW is?

I lateraled out of PW corporate - it can be pretty bad. There are some decent people in M&A but also lots of bad personalities. And the work is absolutely relentless, though probably not much worse than a peer firm. I have a friend in M&A at LW who works probably about as much, but they really like the firm.

[Anonymous User]

Anyone know just how toxic PW is?

I lateraled out of PW corporate - it can be pretty bad. There are some decent people in M&A but also lots of bad personalities. And the work is absolutely relentless, though probably not much worse than a peer firm. I have a friend in M&A at LW who works probably about as much, but they really like the firm.

The work is absolutely relentless. Blessing and a curse.

[itdobelikethat]

Anyone know just how toxic PW is?

I lateraled out of PW corporate - it can be pretty bad. There are some decent people in M&A but also lots of bad personalities. And the work is absolutely relentless, though probably not much worse than a peer firm. I have a friend in M&A at LW who works probably about as much, but they really like the firm.

Can you please PM me?

[nescientone]

Anyone know just how toxic PW is?

I lateraled out of PW corporate - it can be pretty bad. There are some decent people in M&A but also lots of bad personalities. And the work is absolutely relentless, though probably not much worse than a peer firm. I have a friend in M&A at LW who works probably about as much, but they really like the firm.

Can you please PM me?

Also would appreciate a PM, thanks.

[Anonymous User]

Curious if you want to do activism / M&A with a former IBD background why isn’t Evercore / PJT / Centerview on your glide path?

[nescientone]

Anyone know just how toxic PW is?

I lateraled out of PW corporate - it can be pretty bad. There are some decent people in M&A but also lots of bad personalities. And the work is absolutely relentless, though probably not much worse than a peer firm. I have a friend in M&A at LW who works probably about as much, but they really like the firm.

I'd appreciate a PM also.

[Anonymous User]

Curious if you want to do activism / M&A with a former IBD background why isn’t Evercore / PJT / Centerview on your glide path?

I mean - presumably if s/he worked in investment banking before law school, then went to law school, s/he does not want to be an investment banker.