Global law firm Shearman & Sterling together with Emmanuel Gaillard and Yas Banifatemi, alongside partners Coralie Darrigade, Ximena Herrera-Bernal, Maude Lebois, Daniel Reich, Mohamed Shelbaya and Benjamin Siino today announce the launch of a new firm focusing exclusively on international arbitration and international law.
The departing partners are establishing their own firm to pursue a specialized practice in the context of an ever-evolving international disputes market that will provide enhanced flexibility without the conflicts of interests inherent to a large full-service firm.
The new firm, which will be named Gaillard Banifatemi Shelbaya Disputes, will start with offices in Paris, London and New York, and will expand in Asia in the near future.
With a majority of its international arbitration partners remaining at the Firm, Shearman & Sterling will retain a substantial, top-tier international arbitration practice devoted to serving the Firm’s clients in their most important disputes globally. Partner Alex Bevan will assume the role of International Arbitration Practice Group Leader.
The two firms expect to cooperate regularly on select matters in order to best serve the interests of their common and future clients.
David Beveridge, Senior Partner, Shearman & Sterling commented: “We are grateful to Emmanuel Gaillard, who founded the Firm’s international arbitration practice in 1987 and to Yas Banifatemi, who has led the practice with Gaillard for many years. We support their decision, wish them and the partners joining them every success and look forward to a mutually beneficial referral and working relationship with Gaillard Banifatemi Shelbaya Disputes.”
"We remain fully committed to Paris, where Guillaume Isautier will be promoted from deputy to head of the office. We will continue to support our office in Paris, with market leading corporate, M&A and Disputes practices and greater focus on expanding our leveraged finance and private equity capability.”
Commenting on the creation of the new firm, Adam Hakki, Shearman & Sterling's Global Managing Partner and Global Head of Disputes said: "We understand the departing partners’ desire to pursue an international arbitration-focused firm model that will give them the conflict and client selection freedom to optimally pursue their practice goals. We look forward to continuing to partner with them in appropriate cases, and we are confident that under Alex Bevan’s leadership Shearman & Sterling will remain an international arbitration force on an integrated basis and aligned with our global strategy.”
Emmanuel Gaillard adds: “I am proud to have established Shearman & Sterling’s international arbitration practice and grown it to become one of the leading practices worldwide. I now look forward to creating a global institution with a singular focus: managing international disputes in a results-oriented and innovative manner. I do so knowing that the International Arbitration partners remaining at Shearman & Sterling are well positioned to continue a highly successful practice.”