Press Release

Two More Finance Partners, David Kaufman and Joseph Suh, Join New York Office

New York (May 28, 2003) -- The New York office of Morrison & Foerster LLP has attracted its fourth and fifth new lateral partners for the year, helping the firm to fashion one of the country's leading derivatives practices in just a matter of months.

David Kaufman, 45, and Joseph Suh, 36, join MoFo as partners. Mr. Kaufman's practice encompasses complex equity derivatives, securities and commodities transactions. He is an expert in developing equity and credit derivatives products and other structured securities and financial products. Many of the products that he has developed provide tax, accounting, and other benefits. Mr. Kaufman also routinely provides risk-management advice for investment banks, as well as the investment banking arms of commercial banks. Mr. Kaufman draws on 20 years of experience as a securities and derivatives lawyer at Stroock & Stroock & Lavan LLP.

Mr. Suh, formerly of Clifford Chance LLP, is experienced in the areas of credit derivatives and securitizations. He has represented global financial institutions and financial intermediaries in connection with innovative structured finance transactions and credit derivative products. Since 1998, Mr. Suh has been extensively involved in cash and market-value collateralized debt obligations (CDOs), synthetic CDOs, repackagings, credit default swaps, total rate of return swaps and other structured derivatives.

Mr. Suh expects to work closely with clients in the United States and abroad, including Japanese financial institutions, that would like to access the U.S. capital market through cash and synthetic securitization transactions. Mr. Suh will continue to advise clients concerning laws and regulations that impact the structured finance and derivatives markets including the Financial Accounting Standards Board's Financial Interpretation Number 46 (FIN 46), which impacts the U.S. accounting treatment of many structured finance transactions such as asset-backed commercial paper, CDOs, asset-backed securities and synthetic lease transactions.

Joseph Suh is a 1991 graduate of Cornell University; he received his JD from Fordham University School of Law, where he was Associate Editor of the Law Review, in 1994.

Mr. Kaufman graduated summa cum laude from the University of Rochester, and magna cum laude from Harvard University School of Law in 1983.

Messrs. Kaufman and Suh join three other recent arrivals to the New York office since January: Jim Tanenbaum, Anna Pinedo and Alice Yurke.

Jim Tanenbaum and Anna Pinedo both focus on securities and derivatives transactions. Mr. Tanenbaum has pioneered securities distribution methodologies, including PIPE and registered direct transactions.

Alice Yurke has a national practice that combines work on traditional financial products with complex derivatives, including multi-jurisdictional principal protection vehicles. Keith Wetmore, Chair of Morrison & Foerster, said, "Our strategic objective has been to build on our existing strength in capital markets, banking and finance by bringing in attorneys who not only understand the newest developments, but in some cases who have pioneered cutting edge financial products themselves. We're very pleased that these five attorneys have joined our firm this year. MoFo is making a commitment to its clients that the service it provides in the capital markets, as well as in credit, lending, derivatives and structured finance, will always be top flight."




Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.