Shearman & Sterling was recognized for being one of the top 10 most innovative law firms in Asia-Pacific at the Financial Times Asia-Pacific Innovative Lawyers Awards 2020 on August 6. The firm took seventh position in the FT’s rankings, being the third highest among internationally-headquartered law firms and the top-ranked U.S.-headquartered law firm in the region.
The firm won a key award for “Responsible Law Firm” for its pro bono representation of Impact Investment Exchange on its offering of the second series of Women's Livelihood Bonds. The bond offering makes capital accessible to women-owned businesses in South and Southeast Asia, having a demonstrable impact on the lives of women in the region. The transaction was led by Won Lee (Asia Capital Markets Team Leader based in Hong Kong) and featured in the FT report on “Capital Markets lawyers sharpen impact investing skills.”
The firm was also recognized for its work on the Super Six Wind Projects in Pakistan, which was ranked “Highly Regarded” in the Innovative Practice of Law category. Using a state-of-the-art transaction management platform and legal automation software, the firm advised the International Finance Corporation and other lenders on the simultaneous financing of six separate wind farms, achieving signing of documentation in record time and saving an estimated 75 percent of the costs that would have accrued had we processed the transaction using manual methods or if the projects were financed sequentially. This work was led by partner Bill McCormack and counsel Jean-Louis Neves Mandelli (both Singapore-Project Development & Finance) with Neela Ramanathan, Asia Knowhow and Information Lawyer, leading the legal technology initiatives.
The FT Asia-Pacific Innovative Lawyers Awards and Report 2020 recognizes lawyers, law firms and in-house legal teams in the Asia-Pacific region that are at the forefront of innovation for clients and in their own businesses. This year’s report and awards drew on over 4500 submissions from law firms, legal service providers and in-house legal teams.