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BUSINESS NEWS HERBERT SMITH FREEHILLS STRENGTHENS NEW YORK-BASED LATIN AMERICA OFFERING Herbert Smith Freehills has strengthened the New York hub of its global Latin America offering. Projects and infrastructure partner Juan-José Zentner relocated to Herbert Smith Freehills’ New York office on March 1 to advise clients on the development and financing of major in- frastructure projects. Zentner joins Internation- al Arbitration partner Christian Leathley and the rest of the team to focus on Latin America from the New York hub, with an emphasis on mining, power, and general infrastructure op- portunities in the region. He was previously based in Herbert Smith Freehills’ office in Mel- bourne, Australia. Fluent in English and Spanish and of Argentinean heritage, Zentner has represented the firm’s clients in South America for more than a decade, during that time living and working in Chile for more than a year. He specializes in all forms of design, engineering, procurement, and construction contracts and offtake

agreements. He also has extensive experience in corporate, project and structured finance. Herbert Smith Freehills’ highly regarded Latin America Group comprises an experienced global team in Madrid, London, Paris, Melbourne, Sydney, Perth, Tokyo, Beijing, and other offices across the firm’s international network. Co-led by Leathley, the New York hub includes U.S. and U.K.-qualified lawyers, fluent in Spanish and Portuguese, with specialist projects and infrastructure and international arbitration experience. The practice offers expertise in mining, power and general infrastructure and represents a large Australasian client base – which is one of the most active currently investing in Latin America. “With the current pressure on commodity prices, many global corporates are looking to strengthen their balance sheets by selling assets and restructuring their investments, while others are acquiring or developing assets

to capitalize on opportunities,” Zentner said. “Many of the banks, trading houses, pension funds, infrastructure funds and other investors we represent have large offices in New York with mandates to invest in Latin America. As the majority of the financing for cross-border transactions in Latin America originates from New York, there is acute demand for our transactional expertise in the City.” “We established the New York hub for our Latin American practice to better serve clients with interests in the region,” Leathley said. “Juan-Jose’s relocation to New York allows us to provide a broader, integrated offering that includes counsel on international best practice for risk allocation, bankability of project documents and project structures, arbitration and dispute resolution, with a multi-lingual team that has deep roots in the region. The development of this capability it key to the firm and we will continue to add strength to our local team.”

GERRI KING, from page 9

to know what’s ahead if they’re kept in the dark? z Continually discuss the reasons for the merger or acquisition and the rationale for decisions made along the way. z Be sure that transitional teams are developed very early on for all pivotal areas and layers of the organization, and that team members are fully representative of the employee base. Facilitated sessions are the most successful because it’s easier for someone who does not have a stake in the outcome to be completely focused on the process. z Based on cultural assessment and mapping, use appropri- ate work teams to merge departments and make decisions regarding small issues (such as what forms to use), and larger strategies (such as how to handle customer service). While deciding upon best practices and new policies, cultural assimi- lation will be a by-product. z Provide leadership and supervisory training as though it were a completely new, start-up company – because it is! z Label the transition activities as a learning process for all. It is a reminder that new territory is being experienced and goes a long way to explain the confusion and occasional chaos that will inevitably be present. z Set up periodic re-evaluations over the first two or three years that ensure problems will be addressed long after the new organization is formed. Too little time and too few resources are devoted to creating a common vision, and on implementing a smooth integration process. Keep in mind that employee satisfaction can be responsible for the success or failure of M&As because in every area there are bound to be incompatibilities when two or more companies come together. But when the impact on humans is recognized and addressed, even diverse organizations can emerge as productive and satisfying work environments. GERRI KING, Ph.D., is a founding partner and president of Human Dynamics Associates Inc., in Concord, New Hampshire. For more information, visit gerriking.com.

z Involve HR at the earliest possible juncture and commit to ad- dressing all issues and processes from a “people perspective.” z Develop a cultural assessment that helps the two groups identify their differences and appreciate all that they have in common. z Develop forums – in all areas and at all levels – for sharing institutional history, vocabulary and acronyms, formal and informal networks, management and work styles, and sources of institutional pride. It’s nearly impossible to develop a new allegiance without mourning the loss of former loyalties. z Identify expectations and problems and design a realistic process for addressing them. Remember, the people who do the job every day know how to solve the problems, so include employees from all departments and all levels in transition planning. “Keep in mind that employee satisfaction can be responsible for the success or failure of M&As, because in every area there are bound to be incompatibilities when two or more companies come together.” z Develop a new strategic plan and unified goals, objectives, and overriding messages that reflect the newly formed orga- nization. z Communicate even when there is nothing much to say. Si- lence erodes trust, and rumors start when there is a lack of information. If legal considerations prevent early communica- tion, then promise that you will share as much as possible as soon as you can. Many companies have lost their key, skilled people because they could no longer wait for “the shoe to drop.” Sadly, in many cases it never does. But how are people

THE ZWEIG LETTER April 4, 2016, ISSUE 1146

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