(July 7, 2007, Washington, DC) – Reed Smith, one of the 15 largest law firms in the world continues to expand its recently organized Financial Industry Group (FIG) with the addition of Steven Cravath as a partner in the Washington, D.C. office, effective today.
Mr. Cravath was formerly General Counsel for ProFunds Group, sponsor of both registered and exchange-traded investment products.
“Steve is an investment management lawyer with deep regulatory knowledge and asset management experience,” said Frederick C. Leech, a partner in the firm’s Investment Management Group. “In his 18-year career, he has developed a network of relationships with lawyers and business principals in the asset management industry and is well-positioned to help Reed Smith expand those services to our existing clients. Among other areas of expertise, Steve will be valuable in supporting institutional clients engaged in fund mergers and acquisition activities, which are becoming increasingly prominent in today’s economic climate.”
Reed Smith’s Financial Industry Group includes more than 225 attorneys dedicated to clients in the financial sector focusing on finance, litigation, commercial restructuring and bankruptcy, investment management, and regulatory matters.
Cravath specializes in products registered under the Investment Company Act. Prior to his position with ProFunds – from 1992 through June 2006 – he was an associate, and then a partner in the Investment Management Group of Morrison & Foerster in Washington D.C. Cravath started his career as an associate with Dechert in Washington D.C., after completing his law degree at Catholic University in 1989.
“Reed Smith is a top-tier player in the delivery of legal services in the financial industry,” said Cravath. “This move gives me a global platform from which to serve a broader range of asset management principals in markets that have rapidly become international in scope. I look forward to having the support of some of the world’s best legal talent across all financial practice specialties for building my practice here.”
A. Scott Bolden, Managing Partner of the firm’s D.C. Office said, “Steve’s longstanding and very strong reputation with federal financial regulators, including staff at the SEC, FINRA and the Federal Reserve Board, will be extremely valuable to the work of this office. Having him on the ground in the nation’s capital also will help us recruit in and outside of these agencies as we expand FIG and other practices in D.C. and other markets.”
About Reed Smith
Reed Smith is a global relationship law firm with more than 1,600 lawyers in 23 offices throughout the United States, the United Kingdom, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses from Fortune 100 corporations to mid-market and emerging enterprises. Its lawyers provide litigation services in multi-jurisdictional matters and other high-stake disputes, deliver regulatory counsel, and execute the full range of strategic domestic and cross-border transactions. Reed Smith is a preeminent adviser to industries including financial services, life sciences, health care, advertising and media, shipping, international trade and commodities, real estate, manufacturing and education.
Our Financial Industry Group ("FIG") includes more than 225 lawyers around the world who are strictly dedicated to representing clients involved in the financial sector, advising a majority of the world's top financial institutions. As well as being experts in their areas of law, FIG lawyers have a particular understanding of the financial services industry sector, enabling the practice to evaluate risks, and to anticipate and identify the legal support needed by clients. Lawyers in the FIG advise on transactional finance covering the full spectrum of financial products, litigation, commercial restructuring, bankruptcy, bank regulation, consumer compliance and investment management.
For more information, visit reedsmith.com.