Dechert

Dechert
Name	Dechert LLP
Headquarters	Philadelphia, Pennsylvania
Founded	1875
Founders	[Thomas McKean Thompson McKennan
Num offices	24
Num attorneys	900+
Practice areas	Antitrust, Securities, Litigation, Corporate, Private Equity, Litigation Finance
Key people	[David P. DeVillers
Revenue	Confidential
Slogan	Global law firm

Dechert is an international law firm known for its work in corporate transactions, securities litigation, asset management, and white-collar defense. Founded in the 19th century, the firm has grown into a multinational practice with significant engagements in capital markets, private equity, and complex cross-border disputes involving banks, hedge funds, and sovereign entities. Its clients have included major financial institutions, multinational corporations, and government-linked entities engaged in matters spanning the United States, Europe, Asia, and the Middle East.

History

Dechert's lineage traces through the development of Philadelphia legal practice in the late 19th century, intersecting with notable institutions such as the Philadelphia Bar Association, the University of Pennsylvania Law School, and civic initiatives tied to the Pennsylvania Railroad and the Pennsylvania Bar Association. During the 20th century the firm expanded alongside growth in New York City finance and transatlantic commerce involving London and Paris, engaging with practitioners connected to the American Bar Association and regulatory developments from the Securities and Exchange Commission. In the 1980s and 1990s, Dechert participated in matters related to the rise of private equity firms, the expansion of Wall Street capital markets, and multinational mergers involving firms from Germany, Japan, and United Kingdom corporate law regimes. The firm’s modern era includes international office openings reflecting globalization trends seen across peer firms such as Skadden, Arps, Slate, Meagher & Flom, Sullivan & Cromwell, and Latham & Watkins.

Practice areas

Dechert's practice areas encompass cross-border transactional work in Mergers and Acquisitions, Private Equity, and Capital Markets alongside contentious practices like Securities Litigation, Antitrust Litigation, and Insolvency proceedings. Its financial-services group represents banks, asset managers, hedge funds, and trustees in matters touching Investment Company Act of 1940 frameworks, Dodd–Frank Wall Street Reform and Consumer Protection Act implications, and disputes before forums such as the United States Court of Appeals for the Second Circuit and international arbitral tribunals like the International Chamber of Commerce and London Court of International Arbitration. The firm also advises on regulatory and enforcement matters involving agencies including the Department of Justice, the Financial Conduct Authority, and the European Commission.

Notable cases and matters

Dechert has been counsel in high-profile securities class actions, cross-border insolvencies, and enforcement responses to investigations by entities such as the Securities and Exchange Commission, the Department of Justice, and the Commodity Futures Trading Commission. The firm has represented asset managers and trustees in disputes linked to major hedge funds and investment vehicles involved with firms tied to Lehman Brothers, Bear Stearns, and complex restructurings resembling matters seen in Enron-era litigation. It has acted for banks and issuers in IPOs and secondary offerings on exchanges like the New York Stock Exchange and NASDAQ, and in cross-border M&A deals involving corporations headquartered in Germany, Switzerland, China, United Kingdom, and France. Dechert attorneys have also been engaged in international arbitration cases before panels appointed under the International Centre for Settlement of Investment Disputes, and in litigation touching sovereign debt restructurings similar to matters involving Argentina.

Offices and global presence

The firm maintains offices across major financial and legal centers including Philadelphia, New York City, London, Paris, Frankfurt, Munich, Luxembourg, Dublin, Dusseldorf, Brussels, Milan, Rome, Zurich, Hong Kong, Singapore, Tokyo, Beijing, Shanghai, Seoul, Abu Dhabi, Dubai, Boston, San Francisco, and Chicago. These locations position the firm to advise on cross-border transactions and disputes involving jurisdictions tied to institutions such as the European Union, the Court of Justice of the European Union, and the International Monetary Fund.

Leadership and organization

Senior leadership includes the firm chair and an executive committee that oversees practice strategy similar to governance structures at firms like DLA Piper, Allen & Overy, and Clifford Chance. Practice group leaders coordinate across corporate, litigation, and regulatory teams to serve clients active in private equity deals, capital markets transactions, and regulatory contests before agencies such as the SEC and FCA. The firm’s structure includes partnership-level governance, regional managing partners, and committees addressing risk, compliance, and professional development, in lines comparable to Baker McKenzie and White & Case.

Pro Bono and diversity initiatives

Dechert engages in pro bono representation with organizations including legal clinics at the Legal Aid Society, international human-rights NGOs, and refugee-advocacy groups operating in collaboration with bodies like the United Nations High Commissioner for Refugees and the International Rescue Committee. Diversity and inclusion programs align with industry efforts promoted by the Minority Corporate Counsel Association and the National Association for Law Placement, focusing on recruitment, mentorship, and sponsorship for attorneys from underrepresented backgrounds, and partnering with universities such as the University of Pennsylvania Law School, Columbia Law School, and Harvard Law School for clerkship pipelines.

Controversies and ethics investigations

The firm has faced controversies and internal investigations tied to representation of clients in politically sensitive matters and enforcement inquiries involving regulators like the Department of Justice and the Securities and Exchange Commission. High-profile ethics reviews have attracted scrutiny in press coverage and sparked internal compliance reviews similar to episodes experienced by other international firms such as Gibson Dunn and Jones Day. These matters prompted policy updates addressing conflicts of interest, client intake, and professional responsibility aligned with standards from the American Bar Association and local bar disciplinary authorities.

Category:Law firms based in the United States