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  • Merrill Lynch and HSBC have announced that they are forming a joint venture to provide what they call “the first global online banking and investment services company”. The new company will be co-branded ‘Merrill Lynch HSBC’ and its formal name will be announced shortly.
  • Allen & Overy is set to offer its clients Japanese legal advice. According to bar rules foreign firms cannot directly offer Japanese advice, but Allen & Overy is setting up a joint venture with a local firm.
  • Hubert Blanc-Jouvan of Allen & Overy, Paris argues that without reforms French companies are prevented from freely investing in certain categories of securities outside France
  • Clifford Chance advised HSBC bank on the UK’s first collateralized loan obligation (CLO) securitization using revolving trust technology. With a value of $850 million, the deal is also the largest CLO by a UK bank this year.
  • Ben Maiden reports from Helsinki, Stockholm, Oslo and Copenhagen where entrepreneurs, technology clients and regional cooperation are driving Nordic economies and changing the way lawyers are doing business
  • Linklaters & Alliance has added four corporate lawyers to its expanding Madrid office. The four lawyers include Ignacio Santillán formerly head of legal at the SCLV-trading and settlement body for the Spanish stock exchanges and wholesale private debt market, AIAF. Santillán was also an adviser to the CNMV, Spain's securities regulator.
  • Allen & Overy has completed its second recent property securitization by advising Northern Rock on its £750 million ($1.2 billion) financing.
  • Linklaters has advised Zambia Copper Investments, a subsidiary of Anglo American, on its acquisition of the privatized assets of Zambia Consolidated Copper Mines (ZCCM).
  • Australian firms benefited in 1999 from record levels of mergers and acquisitions, and none gained more than Freehill Hollingdale & Page. Figures compiled by Thomson Financial Securities Data show Freehills once again topped the tables, advising on 129 transactions worth more than A$23.7 billion. That represents 42% of the total market.
  • Brown & Wood corporate and securities partner Michael Schiavone has joined the New York office of Shearman & Sterling. He specializes in new product development, financial institutions and telecommunications companies.