Joyce Gorman, a former partner in the securities and derivatives group at Ashurst LLP, joined Ballard Spahr LLP to bolster four groups related to public finance and assist in training programs.
Gorman, whose experience is in advising financial institutions and developing derivative products in the primary and secondary markets, will work in Ballard’s public finance department. She’ll also be a member of the energy and project finance, municipal securities regulation and enforcement, and transactional finance groups.
“Joyce’s arrival will strengthen the D.C. office’s transactional experience, as well as its relationships with regional, national, and international banks,” Joseph Fanone, managing partner of the Washington, D.C., office, said in a press release Friday. “We also expect that she will play a significant role in supervising and training our associates.”
Gorman has experience with direct purchase programs, tender option bond programs, derivatives, liquidity facilities, credit enhancement, complex transactions and Dodd Frank issues such as risk retention and the Volcker rule, Ballard said in the press release.
Ballard, which ranks 27th in par value of deals in which it was bond counsel, nabbed Pauline Schneider and Tatjana Misulic for the public finance team from top-rated Orrick Herrington & Sutcliffe LLP in July. Along with a new young associate and a summer associate, Gorman makes the fifth addition to the DC team since the exit of Rebecca Olsen, who joined the U.S. Securities and Exchange Commission, said Bill Rhodes, chair of Ballard’s public finance department.
“We’re looking for the opportunities where we see sectors that have good growth potential and figuring out if we need to add strength in that area to take advantage of the opportunity,” Rhodes said in an interview.
Gorman previously worked at Ballard almost two decades ago, Rhodes said. Derivatives and energy deals, areas in which Gorman has significant experience, have been identified as sectors with potential business growth, Rhodes said.
In addition to structuring and developing new financial products and programs, Gorman also represents clients in matters involving workouts, debt restructuring and distressed credit, Ballard said in the announcement.
Ballard formed a partnership with white-collar criminal defense firm Stillman & Friedman PC in July in an effort to help clients navigate the municipal bond market as the industry braces for increased regulation. The merged firm marks the first Ballard office in New York. Gorman will help develop the firm’s public finance transactional capabilities in the New York office, Rhodes said in the press release.
Ballard ranked 27th among bond counsel firms with almost $1.6 billion in 48 issues to its credit through June. The firm was ranked 25th and was credited with almost $3.6 billion for 97 issues last year.