New York –– Davis Polk has announced that 10 lawyers have been promoted to counsel effective June 1, 2012: Ann Becchina in the Executive Compensation and Employee Benefits Group, Alon Gurfinkel and Gregory T. Hannibal in Tax, Lena V. Kiely and Jeanine P. McGuinness in the Financial Institutions Group, Catherine L. Martin in the Investment Management Group, Jonathan D. Martin and Michael J. Russano in Litigation, James M. Millerman III in Insolvency and Restructuring, and Yan Zhang in Capital Markets.

Ms. Becchina is in Davis Polk’s Corporate Department, practicing in the Executive Compensation and Employee Benefits Group in New York. She advises clients on federal tax and securities law aspects of executive compensation arrangements, including employment and consulting agreements, with a particular emphasis on structuring and providing advice regarding complex compensatory structured products, carry and notional plans and other equity-related programs for investment professional participation. She also advises issuers, financial institutions, private funds and investment managers regarding reporting of beneficial ownership under Sections 13 and 16 of the Securities and Exchange Act and regarding the application of the fiduciary and prohibited transaction provisions of ERISA to investment products and services.

Mr. Gurfinkel is in Davis Polk's Tax Department, practicing in London. He advises issuers and financial institutions on the U.S. tax aspects of various security offerings and financing arrangements, such as IPOs, structured notes, hybrid securities, exchange offers and credit agreements, with a focus on the European and Asian markets. Mr. Gurfinkel represents private equity funds in connection with their structuring and portfolio investments. He also advises clients on various international tax matters, such as the U.S. tax consequences of cross-border reorganizations and redomiciliation.

Mr. Hannibal is in Davis Polk's Tax Department, practicing in New York. He represents corporate and investment management clients on a variety of capital markets and strategic transactions involving partnership, corporate and international tax matters. He regularly advises investment management clients on tax matters relating to the formation and operation of private investment funds, as well as acquisitions and dispositions of investments. He also advises clients on the tax aspects of leasing transactions.

Ms. Kiely is in the Corporate Department, practicing in the Financial Institutions Group in New York. Her practice focuses on bank regulatory matters, including advising domestic and foreign banking organizations on financial regulatory reform matters, regulatory implications of mergers and acquisitions transactions, regulation of bank activities and investments, corporate governance, compliance and regulatory enforcement matters and capital markets transactions for banks and other financial institutions. Her recent experience includes advising a number of domestic and foreign banks regarding Dodd-Frank Act regulatory implementation, including advising on U.S. banking organizations' resolution plans; advising Morgan Stanley on the bank regulatory and compliance issues stemming from its conversion into a bank holding company; and advising banking organizations on the Federal Reserve’s merchant banking rule, Sections 23A/23B of the Federal Reserve Act and financial holding company status.

Ms. McGuinness is in the Corporate Department, based in Washington DC. She concentrates in U.S. trade and investment laws applicable to cross-border transactions, focusing on U.S. economic sanctions, anti-money laundering laws, anti-boycott laws, the Foreign Corrupt Practices Act, and transaction reviews by U.S. national security agencies, including the Committee on Foreign Investment in the United States (CFIUS). Her clients include major U.S. and foreign financial institutions, and pharmaceutical, technology, telecommunications, energy and natural resource companies. She has recently represented several Chinese purchasers of U.S. companies in connection with reviews by CFIUS, provided economic sanctions and FCPA advice on a number of securities offerings by both U.S. and non-U.S. issuers, and advised non-U.S. financial institutions about the likely impact of recent U.S. sanctions legislation and regulatory actions targeting Iran.

Ms. Martin is in the Corporate Department, practicing in the Investment Management Group in New York. She has assisted hundreds of U.S., Asian, European and Latin American corporations in determining their investment company status, including their ability to qualify for exemptions from the Investment Company Act, in connection with securities offerings and other corporate transactions. Her recent experience includes advising on Investment Company Act issues posed by structured product offerings, securitizations and bank covered bond structures, as well as on U.S. securities offerings by foreign funds and inadvertent investment companies. Ms. Martin also advises on particular Investment Company Act issues faced by financial institutions and their affiliates, including exemption and status issues entailed in determining compliance by bank holding companies with the Volcker Rule.

Mr. Martin is in the Litigation Department in New York. He represents a wide range of corporate and individual clients in securities, antitrust, derivative, bankruptcy and other complex commercial litigation matters in federal and state courts. He also represents clients in internal investigations, SEC enforcement actions, grand jury investigations, and in connection with inquiries by various regulatory agencies. His recent matters include defending a national homebuilder and its officers and directors in a federal securities class action and related shareholder derivative actions, defending an operator of heavy-duty helicopters against alleged monopolization claims in an antitrust action and defending several financial institution clients in various bankruptcy-related litigation matters.

Mr. Russano is in the Litigation Department, practicing in New York. He represents major companies, accounting firms, and financial institutions in bankruptcy proceedings and federal and state complex commercial litigation. He has also represented clients in a variety of securities, regulatory and investigatory proceedings. His recent representations include Lehman Brothers International Europe (in administration) in connection with the SIPA liquidation of Lehman Brothers Inc. relating to a disputed multi-billion dollar customer claim in the largest attempted securities broker-dealer liquidation; JPMorgan Chase Bank, N.A. in connection with the Chapter 11 restructuring of Tribune Company, and involving disputes with unsecured creditors concerning claims for fraudulent conveyance; and a major international corporation in connection with a confidential World Bank investigation.

Mr. Millerman is in Davis Polk’s Corporate Department, practicing in New York. His primary practice areas are corporate restructuring and insolvency law. He has substantial experience in a broad range of in-court and out-of-court restructurings, including cross-border financial institution insolvencies and restructurings, and has represented U.K. administrators, distressed companies, agent banks, DIP lenders, secured creditors, other financial creditors and acquirers of distressed companies. He also advises banks, broker-dealers and other financial institutions regarding credit risks involved in derivatives and other complex financial transactions, including the enforceability of rights to close-out, net and liquidate collateral upon a counterparty insolvency.

Ms. Zhang is in Davis Polk’s Corporate Department, practicing in the Derivatives and Structured Products Group in New York. She regularly represents financial institutions on securities offerings of structured products linked to equities, commodities, currencies, rates and combinations of these assets. She has extensive experience in the development of new financial products, including exchange traded notes and proprietary indices for retail and institutional investors. She also advises financial institutions, corporations and investment funds in structuring, negotiating and documenting equity derivatives transactions as well as offerings of convertible and exchangeable securities.

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, financial regulation, investment management, insolvency and restructuring, executive compensation, intellectual property, real estate, and trusts and estates. Davis Polk (including its associated entities) has more than 800 lawyers in offices in New York, Menlo Park, CA, Washington DC, São Paulo, London, Paris, Madrid, Hong Kong, Beijing and Tokyo. For more information, please visit: http://www.davispolk.com.