The pandemic prompted a workplace shakeup, shining a spotlight on employee wellness
Amy Blankson offers tools that can boost happiness as we enter a new world of work
Hugh Verrier
Chair
In 2022 uncertainty took hold as inflation, volatile markets and a geopolitical conflict added to the challenges set in motion by the COVID-19 pandemic. In a world of shifting expectations and norms, we focused on creating a distinctive experience for our clients, consistent with the five-year strategy we launched in 2020. This North Star guided our global teams as they developed and executed innovative solutions on high-stakes deals, disputes and pro bono matters.
Our client work placed us at the center of global trends related to energy transition, environmental, social and governance (ESG) issues, finance and globalization. We contributed to the dialogue on these issues with published insights including “Scaling up the energy transition,” a report based on a survey that explores how capital providers and companies are setting priorities, staying competitive and managing risk. Through our COP27 video series, we explored themes raised during the annual climate conference and their potential impact on business and industry.
In regions around the world, we increased our capacity to serve clients, promoting 59 new partners and welcoming 39 lateral partners. We developed new ways of working with clients, increasing efficiencies and ensuring consistency. These initiatives included our Debt Finance Solutions Team, which leverages legal technology and other resources to handle certain types of routine work, and our Client Experience Blueprints, a series of tools that codify our global best practices for working with clients before, during and after a matter.
We continued to focus on building a more diverse and inclusive workplace, significantly expanding our diversity data collection efforts so we can quantify our progress. Our people benefited from new and expanded coaching programs, and we took concrete steps to empower our associates, focusing on work allocation, skills development and leadership opportunities.
This review discusses these and other accomplishments and initiatives that made a difference to our people and our clients in 2022. Together we face the future positioned for success.
Guest speakers at Firm events share views on timely topics
Amy Blankson offers tools that can boost happiness as we enter a new world of work
Kenneth Cukier talks about the process that can lead to breakthroughs and help us tackle novel challenges
Antonio Zappulla talks about how TrustLaw tackles some of the world’s biggest challenges
Developments that reshaped the world
The focus on achieving net-zero emissions by 2050 remained a priority for governments, investors and energy companies
Addressing ESG factors became “the new normal” for investors and businesses
Activity across debt and M&A markets slowed as rising interest rates and high inflation saw investors, borrowers and lenders recalibrate risk appetite
Around the world, legal and regulatory developments continued to reshape global interconnectedness
Highlights of our work in 2022
Our achievements position us for success
US$2.83 billion in revenue
2,616 total lawyers
Meet the outstanding generation of talented lawyers who strengthened our Firm in 2022
In markets around the world, White & Case earned many of the legal industry’s top accolades
White & Case is committed to fair and ethical operations that respect human rights and recognize the importance of our natural environment.
As a signatory to the UN Global Compact, we affirm our commitment to doing business responsibly by supporting the Compact’s ten principles on human rights, labor, the environment and anti-corruption. The steps we are taking to continue to embed these principles into our Firm are outlined in our most recent Communication on Progress.
Our latest Environmental Sustainability Report includes information on our environmental policies, footprint, key actions and goals.
Committed to advancing diversity and inclusion across the Firm
11 global affinity networks
Our 11 affinity networks foster a sense of community among the Firm’s Black, Asian, Latinx/Hispanic, Middle Eastern, minority ethnic and LGBTQ+ lawyers, business services professionals and their allies. Each network sets its own agenda, initiatives and goals, which are specific to the issues it considers most important. Affinity networks create and enhance awareness of these groups within the Firm and its larger culture, drive community and connection across our global offices, and support their members with career and professional development opportunities.
25 local women’s networks
Our 25 local women’s networks are active in 40 offices across the Americas, EMEA and Asia-Pacific. These networks foster professional development and mentoring activities. They also provide a forum for our lawyers and business services professionals to share perspectives and create programs to support and retain our women while fostering and promoting gender equity.
49%of our lawyers self-identify as of color
28%of our partners self-identify as of color
43%of our lawyers self-identify as of color
27%of our partners self-identify as of color
118nationalities
95languages spoken
Leading publications and alliance organizations continue to recognize our commitment to diversity and inclusion
Helping our colleagues to reach new heights
Committing to growth opportunities for colleagues in wide-ranging roles
Recognizing the value of our lawyers as they start their careers
Focusing on consistent application of best practices
Leveraging technology to streamline routine work and enhance client service
Collaborating to effect change and build strong connections
Visuals by Roman De Giuli
Financing for Brookfield’s US$1 billion acquisition of Trimco Group
We represented Brookfield Asset Management in the financing for its approximately US$1 billion acquisition of the Trimco Group, a supplier of brand identity products for international fashion and sports brands. The transaction is one of the very few successful rollovers of existing debt in the leveraged buyout context in Asia.
Syndicated ESG-linked facilities agreement for PZ Cussons plc
We represented BNP Paribas as bookrunner, coordinator and arranger, Lloyds Bank plc as bookrunner, arranger and sustainability coordinator and National Westminster Bank plc as agent in a syndicated ESG-linked facilities agreement in favor of international consumer goods business PZ Cussons plc.
Ali Group US$4.5 billion acquisition financing
We advised Ali Group, a global food service equipment company, on a US$4.5 billion acquisition financing related to its acquisition of Welbilt, Inc., a food service equipment and solutions provider. The financing comprised (i) a US$2.25 billion New York law governed facility agreement and (ii) a multicurrency English law governed facility agreement divided into a €1.062 billion Euro-equivalent term loan facility, a US$750 million asset sale bridge facility and a US$250 million revolving credit facility.
New US$2.8 billion financing for Vistra
We represented Citibank and 14 lenders in connection with an incremental amendment to Vistra Operations Company LLC’s senior secured credit agreement to provide a new US$2.8 billion class of extended revolving credit commitments. Vistra is a Texas-based integrated retail electricity and power generation company.
JetBlue US$3.5 billion acquisition financing
We represented JetBlue Airways Corporation in a US$3.5 billion senior secured bridge loan commitment to support its acquisition of Spirit Airlines, Inc. Spirit had previously entered into a merger agreement with Frontier Airlines in February 2022, when JetBlue made an unsolicited proposal to acquire Spirit, which Spirit’s Board initially rejected. JetBlue then launched a hostile tender offer, which was fully backstopped by the bridge loan commitment, in order to make its offer directly available to Spirit’s shareholders. This led to the acceptance of JetBlue’s takeover offer by Spirit’s Board, and JetBlue announced the definitive merger agreement to acquire Spirit in July 2022.
US$1.875 billion financing for FinThrive
We represented JPMorgan Chase Bank, N.A., as first lien administrative agent, and Deutsche Bank AG, New York Branch, as second lien administrative agent, in connection with a US$1.265 billion first lien term loan facility, a US$150 million first lien revolving credit facility and a US$460 million second lien credit facility made available to FinThrive Software Intermediate Holdings, Inc., a healthcare revenue cycle management software-as-a-service platform provider, to refinance existing debt and finance its acquisition of TransUnion Healthcare, Inc.
US$850 million financing for Indonesian acquisition
We advised the arrangers on the approximately US$850 million financing to (among others) PT Centratama Telekomunikasi Indonesia Tbk, an Indonesian-listed telecommunication, multimedia and internet service provider, in connection with the acquisition of PT EPID Menara AssetCo, a subsidiary of EdgePoint Singapore.