The Recorder is reporting that partner Ellen Bastier of Thelen is in talks to join Reed Smith –and she may bring others with her.
According to the article "Reed Smith May Take on Thelen Group", "Reed Smith equity partners are voting this week on whether to bring Bastier, a San Francisco partner, on board, a Reed Smith partner confirmed Thursday. A handful of other Thelen lawyers would come with her, that partner said."
"She has considerable experience serving clients in the energy industry and has regularly represented companies in the wind energy sector since 1987. Ms. Bastier has been involved in energy projects throughout the United States, Canada, Italy, Spain and Australia. She regularly represents manufacturers and distributors of technology in a wide variety of commercial transactions, assisting domestic and foreign entities with the development, construction and ownership of projects, equipment sales, debt and equity financings, project and company acquisitions and dispositions."
The Recorder reports that others would come with Bastier, although Reed Smith partners denied to name others.
Thelen is an AmLaw 100 law firm and has offices throughout the US and one in Shanghai. Best-known and respected for their work in the fields of construction and government contracts, energy and utility, corporate finance, commercial litigation, China securities, and mergers and acquisitions among others. Thelen was founded in 1924 in San Francisco.
Thelen has seen major changes this year, including the departure of over 100 attorneys. Not too long ago, Thelen was known as Thelen Reid Brown Raysman & Steiner, after a 2006 merger, but when a handful of corporate and finance partners defected, including Peter Brown, Richard Raysman, and Jeffrey Steiner, the firm legally shortened its name. A firm press release at the time said the name change "will better reflect the firm's 80-year history as one of the world’s premier law firms." If Bastier leaves and takes colleagues with her, this will bring more uneasiness to the firm.
Reed Smith stands to benefit from Bastier and her colleagues for several reasons. As a rainmaker for Thelen, sources in the article "recently estimated her book at various levels above $5 million." Bastier could bring high profits to Reed Smith.
Reed Smith's 325 equity partners were voting last week on whether to acquire Bastier or not. The vote was due to end last Friday, although no information has been released yet. If the equity partners do vote to acquire her, Bastier is set to join the firm's business department. At Thelen, Bastier was an energy partner.
