Freshfields increases another Cravath dealmaker in New York

Freshfields increases another Cravath dealmaker in New York

At the Magic Circle firm on September 2021, Jenny Hochenberg follows Damian Zoubek's arrival

M&A lawyer, Jenny Hochenberg was appointed by Freshfields Bruckhaus Deringer from Cravath Swaine & Moore – the second M&A lawyer to quit the Wall Street firm in May 2022.

As a partner in the firm's corporate and M&A practice in New York Hochenberg joins Freshfields to reunite with another Cravath departure – Damian Zoubek – who arrived at the Magic Circle firm on September 2021.

Hochenberg's practice emphases on shareholder activism, takeover defence and corporate governance furthermore to M&A work. Her deal making experience extends healthcare, life sciences, tech and industrials. She has also worked on transactions like Afterpay's US$29bn sale to Square (now known as Block), Time Warner's US$109bn sale to AT&T and a number of acquisitions for Johnson & Johnson.

"Jenny is one of the most capable and smartest corporate lawyers I've ever observed. I'm excited to have her in Freshfields. One of the true rising stars in the M&A community, she is creative, devoted and persistent in serving her clients in the United States," said Zoubek, co-head Freshfields' US corporate and M&A practice.

Since 2009, Hochenberg had been at Cravath, making partner in 2017.

"Jenny is an incredible addition to our corporate and M&A team. She symbolises the strong leadership skills that define our existence as a firm besides having an exceptional track record regarding her clients' service," said Sarah Solum, Freshfields' US managing partner.

In May 2022, Allison Wein, M&A partner, Cravath moved to Kirkland & Ellis. The run of departures from the New York-based firm – which also included of Counsel Nicole Foster, who left for Freshfields in January 2022 to co-head its employee benefits practice – comes despite Cravath leaving its pure lockstep structure for partner pay in favour of a modified lockstep that compensates based on performance rather than just seniority.

Based on Refinitiv data, 'During the same period in 2021, Cravath slid down the M&A advisor league tables in the first quarter, falling to 22nd from 7th, working on roughly $33bn of deals'. In the first quarter, Freshfields slipped three spots to 13th, working on almost US$52bn of deals.

Over the past few years, Freshfields has been selecting talents from US competitors. It build up its presence stateside. In 2019, the firm's US impetus began in earnest when it appointed achiever Ethan Klingsberg from Cleary Gottlieb Steen & Hamilton in New York along with two other M&A partners and a litigation partner.

In July 2020, with the launch of a Silicon Valley office, it shifted its attention to the West Coast's growing technology sector. Davis Polk, Latham, Sidley Austin and Wilson Sonsini were appointed from four US rivals.