What's Happening?
Chaim Stern has joined Alston & Bird as a partner in its federal and international tax group in New York. Stern brings over 15 years of experience from Goldman Sachs, where he led tax planning for the firm's alternative asset management business. His
expertise includes advising on the structuring and launch of complex funds and investment vehicles across various strategies such as private equity, credit, hedge, real estate, and infrastructure. This move is part of Alston & Bird's strategy to strengthen its tax advisory capabilities.
Why It's Important?
The addition of Chaim Stern to Alston & Bird is significant for the firm's tax advisory services, particularly in the realm of complex fund structuring and transactions. Stern's experience at Goldman Sachs positions him as a valuable asset in navigating the intricate tax landscapes of investment firms. This could enhance Alston & Bird's competitive edge in attracting high-profile clients seeking sophisticated tax planning and structuring advice. The move also reflects broader trends in the legal industry where firms are increasingly focusing on specialized expertise to cater to complex financial and investment needs.
What's Next?
Stern's appointment may lead to Alston & Bird expanding its client base in the alternative asset management sector. The firm might leverage Stern's expertise to develop new service offerings or enhance existing ones, particularly in tax planning and structuring. Additionally, this could prompt other law firms to similarly bolster their tax advisory teams to remain competitive in the market.
Beyond the Headlines
Stern's transition from Goldman Sachs to Alston & Bird highlights the fluidity between financial institutions and law firms, where expertise in tax and financial structuring is highly sought after. This move may also influence the career paths of other professionals in the industry, encouraging them to explore opportunities across different sectors.
