Davis Polk placed second overall among U.S. law firms in the Financial Times' inaugural "U.S. Innovative Lawyers" report. The report ranks the innovativeness of law firms in deals and cases in several categories. Davis Polk appeared in each of the report’s practice- and industry-specific categories, with three matters earning the highest "standout" ranking – in the Financial Services, Litigation and Automotive categories.

The matters for which Davis Polk was recognized are:

• A series of crisis-related transactions for Citi, including the termination of its loss-sharing agreement with the U.S. government; its realignment into two businesses; and its joint venture with Morgan Stanley
• Ford Motor Company's $10 billion debt restructuring
• Siemens AG's FCPA investigation
• Denial of class certification in Morgan Stanley SIV case
• Frontier Airlines' emergence from bankruptcy
• PepsiCo's acquisition of its two largest bottlers