May 17, 2016
THE DAILY JOURNAL
By, Amanda Schallert
Jones Day expanded its banking and finance practice in Irvine by adding the four core attorneys of Snell & Wilmer LLP’s commercial finance group in Orange County, the firm announced Monday.
Gregory M. Carpenter and Joseph L.Coleman joined as partners, along with Carol Wong Su, who joined as of counsel, and Annie Hu, who joined as an associate.
Carpenter and Coleman represent financial institutions in real property secured and unsecured transactions throughout the country. Carpenter also works on asset-based financing transactions as well as inter-creditor transactions.
Coleman has represented commercial lenders and developers, among others, in real estate financing. Su also works on commercial and public finance.
Coleman worked at Snell & Wilmer for 16 years and Carpenter for 13years. They said they started discussing the move a few months ago, and Ken Schwa1tz of Watanabe Nason LLC represented the group.
The partners have worked on financings for their clients across the country on a variety of asset types. During the recession, they also handled some of the larger distressed loan relationships for clients in the West, Carpenter said.
The group, which started at Jones Day last week, decided to move so they could leverage the resource pool at Jones Day and more efficiently represent cl ien ts using the firm’s multijurisdictional and multipractice partnership, Coleman said.
At Jones Day, leading experts in the tax, real estate and corporate areas are a five digit phone call away, Coleman said. Instead of reaching out to a series of local law firms with other specialties, there will likely be colleagues who can answer questions off the top of their heads, they said.
“Last year we handled a collateral pool of property in 12 states and instead of having to put together a hodgepodge of different [resources], they have those resources in house,” Carpenter said.
Snell & Wilmer still has several attorneys in Orange County and Los Angeles whose practices include commercial finance, said William O’Hare , partner in charge of Snell & Wilmer’s Orange County office.
The group that left will take the work on their desks with them and the firm will continue to share some clients with Jones Day, he added.
“With Joe and Greg deciding to make a change, we’ve got people in place both here and around the country who are capable of serving our clients, so it’s not like there’s a fire drill,” he said.