Baker McKenzie, a notable player in the legal field, is welcoming a 17-lawyer corporate group from Munger, Tolles & Olson, hailing from Los Angeles. This addition is seen as the latest strategy in expanding its deals roster. As reported by Bloomberg Law, the baker’s dozen includes Jennifer Broder, Kimberly Chi, David Goldman, Michael Greaney, Tyler Hilton, Judith Kitano, Kelly Kriebs, David Lee, Brett Rodda, Matthew Schonholz, and Nikole Zoumberakis.
Leif King, leader of Baker McKenzie’s California transactional practice, commends the new group as an “elite transactional group in California”. The group comprises not only partners but also six associates, embodying the majority of Munger Tolles’ corporate team. Munger Tolles is highly respected, with co-founder Charlie Munger even serving as Warren Buffet’s principal advisor until his death in 2023.
This sizeable transfer of legal talent has made headlines for the professionals’ work on high-profile transactions. Notably, they advised Berkshire’s $11.6 billion acquisition of Alleghany Corp. in 2022, Intel’s $9 billion divisional sale to SK Hynix, and Oaktree Capital Management’s sale of a majority stake to Brookfield Asset Management for $4.7 billion. The team’s expertise aligns with Baker McKenzie’s focus on expanding its M&A and private equity practice, suggesting a strategic advantage in the market.
Baker McKenzie’s hiring spree didn’t just stop at the West Coast. On the East Coast, a capital markets and finance team from Paul Hastings was also added to their New York roster, which includes Michael Fitzgerald, the former co-chair of its Latin America practice group. Baker McKenzie’s clear strategy aligns perfectly with what the team from Munger Tolles aims to achieve in the legal scene, affirms Brett Rodda, one of the moving partners.
The team has lead Munger Tolles in offering counsel to Berkshire on various transactions throughout the years. Berkshire paid Munger Tolles $12.5 million for legal services just last year. Even with the team’s move, they are fully ready to further their relationship with Munger Tolles in continuing to serve joint clients. In Rodda’s words, he thanks their “incredible colleagues” at Munger Tolles for the opportunities given and looks forward to future collaborations.
The transitioning of the group’s practice comes at a time when the M&A markets are beginning to recover from a two-year slowdown. According to Leif King, with the advantageous position that Baker McKenzie finds itself in, the firm has plenty of room to press on and even more so due to their strong foundation in California that complements their global platform.