Sidley Austin has made an unusual hire, bringing in investment banker William Evarts to lead its liability management practice group. Evarts, a partner at PJT Partners, brings a law degree and MBA from the University of Pennsylvania. He previously advised clients including Audacy and Puerto Rico on complex restructurings.
This move highlights the escalating war for talent in dealmaking, as liability management increasingly supersedes formal bankruptcy. The firm, with nearly $4 billion in annual revenue and over 2,000 lawyers globally, believes financial expertise combined with legal training will prove compelling to private equity clients. The legal industry has seen record pay packages as firms compete for high-revenue talent, with top liability management lawyers recently moving between elite firms such as Kirkland & Ellis, Simpson Thacher, and Wachtell Lipton.
Evarts' appointment signals Sidley Austin's commitment to combining financial and legal expertise in a hot area of corporate restructuring.
Source: Financial Times Companies · Summarized by HeadlinesBriefing