Cooley LLP announced that Kathleen Pakenham has joined the firm as a partner in its national tax practice. She will be based in New York. Pakenham is a tax litigator with extensive federal tax and procedure experience and is a national authority in state tax shelter issues.
“Kathy brings to Cooley a robust tax litigation practice and a sterling reputation as an advisor on a wide range of tax law issues,” said Alan Levine, partner in charge of Cooley’s New York office. “She joins a highly regarded tax team that has built a reputation for its depth of experience handling tax controversies and the tax structuring of business transactions.”
Appearing in federal appeals courts, the United States Tax Court and U.S. district courts, Pakenham represents and advises clients in civil tax litigation, criminal tax litigation, summons enforcement litigation, tax compliance and government agency consultations. She is the youngest law firm partner listed in the Chambers USArankings for Tax Litigation. Already this year, Pakenham has tried two cases in U.S. Tax Court.
“We are delighted to have such a talented attorney joining Cooley’s tax practice,” said Stephen Gardner, head of Cooley’s New York tax practice. “Her experience handling a broad range of tax controversies, as well as her strong reputation among New York’s financial institutions, will immediately make her a valuable member of our tax group.”
Pakenham joins Cooley from White & Case LLP, where she was a partner. She earned her J.D., magna cum laude, from Brooklyn Law School and her LL.M. in Taxation from New York University School of Law.
Simmons & Simmons has promoted eight to its partnership including Darren Oswick who is based in the London tax deparment.
Darren joined the firm as a trainee in 1999, and qualified in 2001 as a solicitor in England and Wales. He has a broad tax practice, with particular expertise in employment tax and private equity.
Leonard Schneidman, formerly of Pepper Hamilton LLP, recently joined the Boston office of WTAS LLC as a Managing Director in its International Tax practice.
Schneidman brings to WTAS a wealth of experience in providing counsel to clients with regard to structuring and operation of private investment funds, advising high net worth foreign investors with regard to U.S. investments and activities, and assisting both U.S. and non-U.S. corporate clients in tax-efficient structuring of their business operations. He has had significant involvement with issues of U.S. international tax policy and tax reform, including chairmanship of the American Bar Association’s (ABA) U.S. Activities of Foreigners and Tax Treaties Committee and co-chairmanship of the ABA’s Task Force on International Tax Reform. Prior to joining WTAS, Schneidman held positions with Foley Hoag LLP; Spengler, Carlson, Gubar, Brodsky & Frischling LLP; and Willkie Farr & Gallagher LLP, and has written and spoken extensively on international tax matters.
“Many of our clients have interests beyond the boundaries of the United States. Len’s expertise is a great resource for those clients whose business or personal transactions have multinational implications,” said Joe Comeau, the Office Managing Director in Boston.
“We are glad to have Len on board. He will bring additional depth to our international practice and his extensive experience will add real value to our clients and our firm,” commented WTAS CEO, Mark Vorsatz.
John L. Harrington, who recently served as international tax counsel for the U.S. Department of Treasury, has joined Sonnenschein Nath & Rosenthal LLP, the law firm announced today. Prior to joining Treasury, Harrington was tax counsel for the U.S. House of Representatives’ Committee on Ways and Means. Harrington, who joins the firm as a partner in its Taxation practice, will reside in Sonnenschein’s Washington, D.C., office.
“Understanding tax policy on the domestic and international level, as well as its direction, is the key driver for business planning. The level of sophistication and expertise that John brings in this regard is a coup for our clients,” said Marc D. Teitelbaum, national chair of Sonnenschein’s Taxation Practice. “John’s distinguished service in government provides him with an exceptional background in the key administrative and legislative tax matters on the international level that will be critical for the next dozen years and beyond.”
Harrington joined the Treasury Department in 2001 and served as international tax counsel from 2007-2009. In that role, he worked extensively with the IRS on regulations and other guidance dealing with the foreign tax credit, subpart F, transfer pricing, cross-border activities and other international tax issues. He led tax treaty negotiations and drafted and reviewed technical explanations and revisions to existing treaties. Harrington also served as the United States representative at meetings of the Organisation for Economic Co-operation and Development (OECD) Committee on Fiscal Affairs and at World Trade Organization meetings on tax-related trade disputes.
“In light of the increasing focus on major tax policy changes, especially in the international context, joining the firm with the pending SNR Denton global combination just months away is an exceptional opportunity,” said Harrington. “The reputation of Sonnenschein’s tax and policy practices already made the firm stand out for me, and I am delighted to be part of building the next phase, during which international tax considerations truly will be an important factor for clients in every global business sector.”
Harrington began his legal career in private practice in Washington. He earned a J.D. degree from Columbia University School of Law, where he was a Harlan Fiske Stone scholar, and a B.S. degree from the University of Florida.
With more than 700 lawyers and other professionals in 13 offices in the United States and Europe, Sonnenschein Nath & Rosenthal LLP (SNR) serves the legal and public interest needs of many of the world’s best-known and most admired businesses, nonprofits and individuals.
On June 9, 2010, the partnerships of both SNR and UK-based Denton Wilde Sapte LLP (Denton) approved a combination to form SNR Denton, to become effective on September 30, 2010. The combination joins complementary practices with a disciplined focus on meeting evolving client needs in eight key sectors: Financial Institutions and Funds; Energy, Transport and Infrastructure; Insurance; Real Estate, Retail and Hotels; Technology, Media and Telecommunications; Health and Life Sciences; Manufacturing; and Government. With its focus on quality, the combination will include 1,400 lawyers and other professionals in 18 countries and 33 locations across four continents, including the US, UK, Europe, the Middle East, Russia and the CIS, South-East Asia, and a network of exclusively associated firms in Africa.
Willis Group Holdings, the global insurance broker, has announced the appointment of Michael K. Neborak as Executive Vice President and Group Chief Financial Officer. Mr. Neborak, who will join the company on July 6, 2010, will report to Joe Plumeri, Chairman and CEO, and will serve as a member of Willis’ Executive Committee. He will be based in New York, and will also work out of the Group’s Executive Offices in London.
In his new role, Mr. Neborak will be responsible for all of Willis’ global finance functions, including corporate accounting and reporting, financial planning and analysis, tax, treasury and investor relations.
“Mike is an outstanding CFO with broad experience in the financial services sector,” said Mr. Plumeri. “He brings great skill and deep background to our senior management team and joins Willis at an important moment in our company’s history. With Mike helping to lead the charge, we will continue to build on our successes and work to accelerate our growth, while we maintain our expense discipline and further strengthen our balance sheet.”
“I’m thrilled to be joining Willis, one of the great names in insurance and one of the best-run firms in the industry,” said Mr. Neborak. “Willis has built a global platform for serving its clients and has the capabilities and expertise to capitalize on the opportunities ahead as economic and market conditions improve. I look forward to being a part of the Willis success story and to joining the team that’s driving its future growth.”
Mr. Neborak joins Willis from MSCI Inc., a leading provider of investment decision-support tools for institutional investors, where he was CFO and part of the senior management team that took the company public in November 2007. Prior to joining MSCI, Mr. Neborak worked for Citigroup and its predecessors from 1982 to 2006, most recently as divisional CFO for the Global Operations and Technology Group and the Alternative Investments Group. From 1982 to 2000, Mr. Neborak held senior positions in the investment banking group at Salomon Smith Barney, focusing on insurance and the broader financial services sector. He began his career as an accountant with Arthur Andersen & Co.
Mr. Neborak holds a Bachelor of Arts degree in economics from Lafayette College, Easton, Pa., and an M.B.A. from the Stern School of Business at New York University.
PricewaterhouseCoopers (PwC), Ireland’s largest professional services firm, has announced the admission of Yvonne Thompson as a financial services tax partner effective 1 July 2010.
Speaking at the announcement, Ronan Murphy, Senior Partner, PwC said:
“As a Firm we continue to support our clients to position their organisations for the economic upturn and ensure they emerge as strong businesses for the future. The admission of Yvonne to the partnership will strengthen our Financial Services team as we continue to serve our domestic and international banking and insurance clients.”
Yvonne Thompson works with the PwC Financial Services Tax Practice in Ireland, specialising in the corporate taxation of banking, insurance and leasing operations. With over 15 years’ experience, she has significant experience in advising on domestic and international taxation matters, including international tax structuring through Ireland, foreign tax transaction issues and the taxation of capital market transactions.
Yvonne is a fellow of the Institute of Chartered Accountants in Ireland.
Blake, Cassels & Graydon LLP (Blakes), one of Canada’s leading business law firms, has announced that Edwin G. Kroft, Q.C., and Deborah J. Toaze have joined the Tax Controversy & Litigation Group as Partners.
“Ed Kroft is recognized as one of the top tax litigators and one of the leading experts in transfer pricing disputes in Canada,” said Brock Gibson, the Firm’s Chair. “Having Ed and Deborah join our Tax Controversy & Litigation Group is a welcome addition for Blakes. They will complement and enhance our renowned transfer pricing practice led by Janice McCart. Our Tax Group has won the International Tax Review’s Tax Firm of the Year Award for 2008 and 2009. Now that Ed and Deborah have joined our Firm, it will only increase our ability to better service our clients.”
Mr. Kroft has appeared in the Supreme Court of Canada, Federal Court of Appeal, Tax Court of Canada and B.C. Supreme Court. He also handles audit and appeals work with the Canada Revenue Agency and is involved in dealing with competent authorities in Canada and around the world on tax treaty and transfer pricing matters. Mr. Kroft also brings his extensive experience in representing multinational clients in the negotiation and conclusion of advance pricing arrangements. He is a member of the Rules Committee of the Tax Court of Canada and is a former governor of the Canadian Tax Foundation and a former chairperson for the Tax Subsection of the British Columbia branch of the Canadian Bar Association.
He is recognized in many ranking publications including: Chambers Global: The World’s Leading Lawyers for Business 2010 (Band 1 in the area of tax litigation), The 2010 Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, The Lexpert Guide to the Leading US/Canada Cross-border Corporate Lawyers in Canada, International Tax Review: World Tax 2010 published by Legal Media Group, The Canadian Legal Lexpert Directory 2010 and The Best Lawyers in Canada 2010. He has written more than 50 articles and papers on taxation and corporate law subjects for the Canadian Tax Foundation and other organizations. He is an adjunct professor of tax law at the University of British Columbia (UBC), the course director of Tax Administration and Litigation at Osgoode Hall Law School (LL.M. program), and the recipient of the Adam Albright Award for outstanding teaching at UBC.
Deborah Toaze is both a chartered accountant and a lawyer and is a member of the Canadian Bar Association and the Canadian Tax Foundation. Ms. Toaze represents clients in tax disputes involving the Canada Revenue Agency at the audit and appeals stage and in court. Ms. Toaze works extensively in the transfer pricing area in the resolution of disputes with government authorities and advises on transfer pricing matters in mergers and acquisitions. She also has extensive experience in the taxation of financial institutions and financial products. She previously held tax positions in industry, including the position of vice-president of taxation at a major Canadian institution.
Ms. Toaze regularly writes on tax matters and speaks at various tax conferences and seminars. She received her B.A. from Queen’s University in 1974, her M.BA. from McMaster University in 1976, her LL.M. from Osgoode Hall Law School in 2001, and her J.D. from the University of Toronto in 2004.
JPMorgan Chase & Co. today announced new responsibilities for three members of its senior leadership team:
* Heidi Miller, head of Treasury & Securities Services (TSS), has been named President of International.
* Michael Cavanagh, Chief Financial Officer, will succeed Ms. Miller as Chief Executive Officer of TSS.
* Doug Braunstein, head of Investment Banking, Americas, will succeed Mr. Cavanagh as Chief Financial Officer.
“Over the years at JPMorgan Chase we have worked hard to build a highly talented senior management team,” said Jamie Dimon, Chairman and CEO. “In developing great leaders and building a strong company, we focus on continually broadening the experience of our executives and working to deploy their talents and expertise across the organization. Our firm has developed an excellent management bench, and today’s moves reflect our goal of building on our team’s experience and providing them with new opportunities to make our company even better.”
As part of today’s announcement, the company has created the new role of President of International. JPMorgan Chase has built a world-class international banking franchise, but the company believes prospects for further growth in all of our businesses outside the United States are significant. This important new role will augment – not replace — business lines around the world, helping them accelerate and prioritize their efforts and their investments for growth.
Working with her senior colleagues, Ms. Miller will develop a comprehensive and coordinated international business strategy and growth plan – ensuring that the company identifies opportunities for growth all over the world; accelerates its expansion in countries like China, Brazil, India, and Russia; seeks out opportunities in other emerging economies; properly resources and governs lines of business and functions; continues the build-out of local branches; and cuts out any bureaucracy and inefficiencies.
Ms. Miller will take the lead in further expanding our global Corporate Bank, managing it in close coordination with Investment Bank CEO Jes Staley as well as with TSS Head Mike Cavanagh. As part of her new responsibilities, Ms. Miller will also chair a newly formed International Operating Committee, consisting of the firm’s senior global leaders, and she will focus on growing our international branches across lines of business.
Jamie Dimon said, “The breadth and depth of Heidi’s international business and leadership expertise are virtually unmatched in our industry, and I’m very excited about her taking on this important new role.” Regarding her new responsibilities, Ms. Miller added, “JPMorgan Chase is uniquely positioned for extraordinary success and growth globally if we work together and execute well, and I’m very fortunate to be leading this effort.”
Mike Cavanagh, who has been the company’s Chief Financial Officer since 2004, will become CEO of the TSS business. As CFO, Mr. Cavanagh provided broad leadership throughout the company’s major merger integration efforts, and he played a key role in helping the company successfully navigate the financial crisis over the past few years.
“Mike Cavanagh has done an outstanding job as CFO of our company and has built one of the most respected financial teams in banking,” said Jamie Dimon, adding, “Mike is well-suited to build on Heidi’s success as the new head of TSS, one of our six major businesses.”
Mr. Cavanagh said, “I am grateful for the opportunity I’ve had to be CFO of JPMorgan Chase through such interesting and tumultuous times, and I want to thank all of my Finance colleagues for their hard work and support over the past six years. At the same time, I couldn’t be more excited about the opportunity to succeed Heidi in leading our TSS business, and I look forward to building upon her success.”
Doug Braunstein, who has served as head of Investment Banking for the Americas, will become Chief Financial Officer and a member of the firm-wide Operating Committee. Prior to heading Investment Banking, Americas, Mr. Braunstein served in a number of senior Investment Banking roles, including as head of Global Mergers and Acquisitions. He has been a member of the firm’s Executive Committee since 2005.
“Doug is a tremendous leader and has helped build our leading client franchise within the Investment Bank over the past decade. I’m very proud of the talent we have developed at our firm, and it’s great news that we have someone with Doug’s exceptional client experience, seniority and seasoned financial thinking to take on the critical role of CFO,” Dimon said.
Mr. Braunstein added, “I am truly honored to take on this important role. I am committed to working closely with our entire Operating Committee to continue to maintain our fortress balance sheet, including our focus on risk management, capital strength and liquidity, strong loan-loss reserves, and clear and transparent reporting and accounting.”
The company will shortly announce a successor to Mr. Braunstein as head of Investment Banking, Americas.
