Shearman & Sterling

Address: 599 Lexington Avenue, New York, NY 10022-6069 and

Citicorp Center, 153 East 53rd Street, New York, NY 10022-4676

Members of note

Roger J Baneman - with Treasury Department 1980-82.

Edward Bransilver - General Counsel - Federal Deposit Insurance Corporation 1973-75.

Robert Carswell - Deputy Secretary of the Treasury1977-81.

David W Heleniak - Assistant General Counsel, Domestic Finance, Treasury Department1978-79.

Mary Kate Wold - Attorney-Advisor, Office of International Tax Counsel,US Treasury Department 1982-84.

Robert E Herzstein - Under Secretary for International Trade US Department of Commerce1980-81.

Robert H Knight - General Counsel of Treasury1961-2.

Newspaper articles

Various articles regarding Shearman & Sterling, including their connection with Citicorp (see below)

Citicorp Taps Roche to Assume Control Of Its Legal Affairs

The Wall Street Journal, December 9, 1988

New York - Citicorp tapped John J Roche, a senior partner of Shearman & Sterling, the banking and financial services firm’s main outside counsel, as executive vice-president, legal.

Citicorp said the appointment is in anticipation of the October 1989 retirement of Hans H Angermueller, vice chairman for legal and external affairs.

Mr Roche, 53 years old, will immediately take policy responsibility for legal affairs at Citicorp.

About 25% to 30%, or $45 million to $54 million, of Shearman & Sterling’s billings come from Citicorp. American Lawyer, in its annual ranking of law firms’ revenues, said Shearman & Sterling billed about $180 million gross revenue in the year ended September 30, 1987. A source at the firm confirmed those figures.

The appointment of Mr Roche appears to cement the bond between the two firms. When Citicorp named John S Reed chairman and chief executive officer in 1984,industry analysts said the long and lucrative relationship between the firm and its biggest client might be strained. Mr Reed was thought to believe the firm was too conservative and too expensive, according to reports at the time.

“My appointment certainly indicates that the relationship is a good one and I hope that is recognised,” said Mr Roche, a 25-year veteran of the law firm.Many of Citicorp’s more than 300 in-house lawyers came from the firm, including Mr Angermueller, he said.

Mr Roche said the move to Citicorp, “is not a big deal. It is an individual decision that I made with John Reed....I will be the person responsible for the policy decisions, reporting to Mr Reed,” he said, adding that it was too early to talk about the future relationship between the law firm and the bank. “I don’t think it really will change,” he said.

Mr Angermueller, 64, was the main architect of Citicorp’s assault on the legal and political barriers that have restricted its ability to engage in insurance and securities activities.Citicorp was the first bank to exploit a little-noticed clause in federal banking law that allows bank affiliates to do limited underwriting of certain securities that previously were off limits to banks. Since then, a dozen major banks have copied Citicorp’s lead. (Note: - Certificates of Deposit - CD’s and Special Drawing Rights - SDR’s).

Hans Angermueller, former Citicorp, will join Shearman & Sterling.

The Wall Street Journal, December 20, 1989

The former Citicorp vice-chairman, once a partner at the New York law firm, will rejoin Shearman & Sterling in an “of counsel” capacity in January. He retired from Citibank October 31, after he turned 65, Citicorp’s mandatory retirement age.

Mr Angermueller went to Citicorp in 1973 as senior vice president and general counsel. As vice chairman, he was in charge of Citicorp’s external affairs, including legal affairs and government relations. Mr Angermueller was considered to be a contender for chairman of the bank when Walter Wriston retired in 1984. John S Reed succeeded Mr Wriston.

At Shearman & Sterling, Mr Angermueller will concentrate on international matter and finance deregulation issues. He said he doesn’t expect to represent Citibank, the law firm’s biggest client.

Shearman & Sterling Names New Head of Firm

The Wall Street Journal, January 14, 1991

Stephen R Volk, a corporate partner who helped build the law firm’s mergers and acquisition practice, was elected to a six-year term as senior partner.

He succeeds Robert Carswell,whose term expired. Mr Carswell, a former Deputy Secretary of the Treasury,will resume practising corporate and banking law full time.

Mr Volk, who will continue to practice law, has represented Merrill Lynch & Co,First Boston Corpand Morgan Stanley & Co.Shearman & Sterling, New York, has about 600 lawyers in nine offices.

Claims against Iraq

The Wall Street Journal, June 3, 1994

The Kuwaiti government hired a consortium, which includes the New York law firm Shearman & Sterling, to prepare claims against Iraq for environmental damage inflicted during the Gulf War.