Announcement

Milbank Partner John Halvey Ranked Top Outsourcing Lawyer in the U.S. by Chambers and Partners

Halvey Recognized for Leading the Development of Business Process Outsourcing

NEW YORK, NY, June 1st, 2005 – The third edition of Chambers USA: America’s Leading Lawyers for Business 2005, just released, recognizes Milbank, Tweed, Hadley & McCloy LLP partner John K. Halvey as the most outstanding among all U.S. lawyers practicing business process outsourcing. Halvey’s ranking as a “Star Performer” is the highest possible ranking, (exceeding even a number 1 ranking) and he is the sole business processing outsourcing lawyer to receive this ranking nationwide. In addition, Milbank’s Technology & Strategic Sourcing Group, founded and headed by Halvey, was one of only three law firms achieving a number one ranking in this practice area and named number one in New York.

Halvey’s top ranking signifies the recognition by both clients and peers of his pivotal role at the forefront of business process outsourcing. Chambers USA states that clients rate Halvey as “phenomenal on the customer side” and value him because “he’s a deep thinker and looks at deals with incredible focus like an investor would.” According to Chambers, Halvey literally wrote the book on outsourcing: Business Process Outsourcing Transactions: Process, Strategies and Contracts. Peers note that “you can’t talk about outsourcing without talking about Halvey – he’s played perhaps the leading role in the development of the industry.”

Milbank’s Halvey has been involved in a number of groundbreaking outsourcing deals, including most recently two of the most important Information Technology Enabled Services – Business Process Outsourcing (ITES-BPO) transactions to date:

• Representing Deutsche Bank in a major BPO deal with Accenture, the largest procurement outsourcing deal to date in the financial services sector, involving the outsourcing by Deutsche Bank of its worldwide corporate purchasing and accounts payable services.
  
  
• Representing the purchasers, private equity firms General Atlantic Partners and Oak Hill Capital Partners, in their $500 million purchase from GE of a majority stake in its captive offshore global outsourcing business, GE Capital International Services (GECIS), which is based in India. A “first of its kind” transaction, the deal sets the stage for future private equity investment in BPO, particularly those headquartered in India. The most significant outsourcing deal out of Asia to date, the GECIS transaction portends a trend for large companies to look to the private equity market to help them commercialize their BPO divisions.

Under Halvey’s leadership, Milbank’s Technology & Strategic Sourcing Group has become, according to Chambers, “one of the foremost outsourcing firms in the country” and “truly multinational in scope.” A “dominant and entrenched player” in the sector, Milbank continues to set the pace, creating innovative solutions for increasingly complex transactions. Milbank’s customer-focused business process outsourcing practice includes clients across a wide range of industries, such as DuPont, AT&T; PepsiCo; Deutsche Bank; BellSouth;; Alcatel; Xerox; Panasonic; ; Bombardier; Schering Plough; General Atlantic Partners; and the Commonwealth Bank of Australia.

Milbank, Tweed, Hadley & McCloy LLP is a global law firm headquartered in New York, with offices in Washington, D.C., Los Angeles, Palo Alto, London, Frankfurt, Munich, Tokyo, Hong Kong and Singapore. Milbank is a recognized leader in mergers and acquisitions, capital markets and corporate finance, project finance, acquisition finance and other major fields of legal practice. Milbank has English, German and U.S. law capabilities, and provides a full range of services to many of the world’s leading financial, industrial and commercial enterprises, as well as governments, institutions and individuals.