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Law Firms Already Pinching Other Firms Blockchain Teams. McDermott Will & Emery Start The Ball Rolling.

The euphemisms are the same, year in year out. “Recruited”,”hired”, “expand” and so on and so forth. We didn’t expect to see movement of blockchain legal teams until after the new year, but there’s obviously too much money swilling around the market already.

 

Law.com reported yesterday that McDermott Will & Emery, in an effort to expand its financial technology expertise have recruited a three-person team in New York led by partner Lee Schneider who is the former head of Debevoise & Plimpton’s broker-dealer and fintech practices.

 

The report goes on to say

McDermott announced the hires in a statement on Monday, describing Schneider as a fintech “thought leader” who is well-versed in blockchain technology and digital currency. Schneider, previously a counsel at Debevoise, will serve as a partner in McDermott’s financial institutions advisory practice. He joins the firm alongside partner Lilya Tessler and associate Verity Van Tassel Richards, both of whom come to McDermott after serving as associates at Debevoise.

Welcoming Schneider and his team, members of McDermott’s leadership said the lawyers would help position the firm to advise financial services companies and other clients as innovation continues to change the fintech landscape. The hires come as a number of law firms are fielding inquiries from clients about digital currency, such as bitcoin, and the underlying blockchain technology.

 

“Lee, Lilya and the team will help position McDermott at the forefront of blockchain and other emerging areas of fintech, and we look forward to integrating their stellar capabilities across the firm’s global platform,” said a statement by David Taub, head of McDermott’s financial institutions advisory group. “They represent the future of what McDermott has to offer our clients in financial services and other arenas, and we are thrilled to welcome them.”

Full report at

https://www.law.com/americanlawyer/sites/americanlawyer/2017/10/30/102717mcdermott_fintech/

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