What's Happening?
Cleary Gottlieb Steen & Hamilton, an international law firm, has hired Sebastian Alsheimer to lead its shareholder activism defense practice. Alsheimer, previously a partner at Wilson Sonsini Goodrich & Rosati, will join Cleary in January and be based in New York. His role will involve advising corporate clients like 3M, Honeywell, and BlackRock on engaging with activist investors. This move is part of a broader trend among law firms to strengthen their capabilities in defending against shareholder activism, which has become a significant aspect of corporate governance.
Why It's Important?
The hiring of Alsheimer underscores the growing importance of shareholder activism in the corporate world. As companies face increasing pressure from activist investors, law firms
are expanding their services to help clients navigate these challenges. This trend reflects the evolving landscape of corporate governance, where shareholder engagement is becoming more strategic and contentious. For Cleary Gottlieb, enhancing its activism defense practice could attract more corporate clients seeking expertise in managing investor relations and defending against potential corporate agitators.
