July 6, 2010, New York –– Davis Polk & Wardwell LLP today announced that Robert L.D. Colby, Elliot Moskowitz, Gregory S. Rowland and Christopher S. Schell have been elected partners of the firm, effective July 1, 2010. Davis Polk now has 166 partners in its offices in New York, Menlo Park, Washington DC, London, Paris, Madrid, Hong Kong, Beijing and Tokyo.

Mr. Colby is a member in the Washington DC office. He advises on complex regulatory and compliance matters involving securities and derivatives for broker-dealers, financial institutions, markets, investment advisers, and clearing organizations. Before joining the firm in 2009, Mr. Colby served for 17 years as Deputy Director of the Securities and Exchange Commission’s Division of Trading and Markets, where he was responsible for the regulation of broker-dealers, securities markets, and clearing organizations. Previously, he was Chief Counsel of the Division and Chief of the Division’s Branch of Market Structure.

Mr. Moskowitz is a member of Davis Polk’s Litigation Department. His practice focuses on bankruptcy litigation and complex commercial litigation, and he has regularly represented major financial institutions and creditors, such as Citibank, Bank of America and JPMorgan Chase, in connection with bankruptcies and reorganizations. Most recently, he served as a leading litigator in numerous contested matters in the Chapter 11 proceedings of LyondellBasell (on behalf of creditors) and of Frontier Airlines (on behalf of the debtor). Mr. Moskowitz also has extensive experience representing corporate clients and professional firms in connection with a wide range of state and federal regulatory inquiries and civil litigation, including securities litigation and professional malpractice claims. In his pro bono practice, he served as Chief Counsel to The Special Commission on the Future of the New York State Courts appointed by then Chief Judge Judith S. Kaye.

Mr. Rowland is a member of the Investment Management Group in the New York office. He focuses on providing transactional, regulatory and compliance advice relating to investment advisers, mutual funds, closed-end funds, private equity funds and hedge funds. He devotes a large portion of his practice to sales, acquisitions and restructurings of asset management firms. Several of his recent transactional representations have included advising Morgan Stanley on the sale of its retail investment management business, Citigroup on the creation of the Morgan Stanley Smith Barney joint venture, Morgan Stanley on its investments in various hedge fund managers (including Avenue Capital Group and Lansdowne Partners), and Marsh & McLennan on the sale of Putnam Investments.

Mr. Schell is a member of the Capital Markets Group in the New York office and advises financial institutions on domestic and international securities offerings of structured products, including numerous types of synthetic exchangeable securities and other equity, commodity and currency linked products. He has also regularly advised Morgan Stanley on a range of matters, including the U.S. Government’s $10 billion investment in Morgan Stanley under the Troubled Asset Relief Program and issuances by Morgan Stanley of over $23 billion of notes guaranteed under the FDIC’s Temporary Liquidity Guarantee Program. In addition, he has worked on a wide variety of public and private securities offerings by U.S. and non-U.S. issuers in a range of industries, including the initial public offerings of Burger King and Greenhill & Co., convertible offerings and high-yield debt financings, as well as leveraged finance transactions, such as the €5 billion acquisition of the semiconductors business of Royal Philips Electronics by a private equity consortium. He worked in the London office from 2000 to 2002.

About Davis Polk. Davis Polk & Wardwell LLP is a global law firm. For over 160 years, its lawyers have advised industry-leading companies and global financial institutions on their most challenging legal and business matters. Davis Polk ranks among the world’s preeminent law firms across the entire range of its practice, which spans such areas as capital markets, mergers and acquisitions, credit, litigation, private equity, tax, investment management, insolvency and restructuring, executive compensation, intellectual property, real estate and trusts and estates. The firm has approximately 750 lawyers in offices in New York, Menlo Park, CA, Washington DC, London, Paris, Madrid, Hong Kong, Beijing and Tokyo.