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Milbank, a prominent law firm based in New York, has announced the addition of Nola Heller, a former federal prosecutor, as the co-head of its white-collar defense and investigations team. This strategic move reflects Milbank’s commitment to enhancing its legal prowess in litigation and arbitration.
Heller brings a wealth of experience to her new role, having most recently served as a partner at Cahill Gordon & Reindel, a rival law firm, since 2017. Notably, she spent over a decade as an assistant U.S. attorney in the Southern District of New York, where she held pivotal roles such as chief of the violent and organized crimes unit and co-chief of the general crimes unit. Her extensive background in federal prosecution equips her with a deep understanding of the complexities of white-collar cases and investigations.
The decision to join Milbank was partly influenced by the opportunity to collaborate with fellow legal experts who also have backgrounds as former prosecutors from the Southern District of New York. Notable figures include George Canellos, the global head of Milbank’s litigation and arbitration group, and Scott Edelman, the chairman of the law firm.
See also: Cahill Antitrust Practice Head Joins McDermott Law Firm
Heller’s legal career has witnessed a growing focus on various specialized areas. Notably, she has taken on cases involving cryptocurrency, insider trading, and the intricate landscape of communications record-keeping. These areas reflect the evolving nature of white-collar defense, where digital advancements and regulatory changes continually reshape the legal landscape.
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Recent developments in regulatory scrutiny have underscored the significance of effective legal representation. U.S. regulators have launched a comprehensive enforcement investigation targeting the utilization of “off channel” work communications by Wall Street companies. This investigation specifically scrutinizes the use of text messages and platforms like WhatsApp, which may violate rules mandating the retention of specific work-related communications. In a recent instance of penalties, regulatory authorities imposed fines totaling $549 million on nine Wall Street firms earlier this month. This underscores the critical role of lawyers specializing in white-collar defense in guiding financial entities through complex regulatory environments.
Heller’s former firm, Cahill conveyed their appreciation for her service and extended their best wishes for her future endeavors. This transition is part of a larger trend, as Cahill has experienced the departure of several partners and practice leaders to competing law firms this year. One notable departure was Brad Bondi, the former leader of Cahill’s white-collar and government investigations group, who assumed a similar role at Paul Hastings in April.
In a legal landscape characterized by rapid changes and intricate regulatory frameworks, the addition of Nola Heller to Milbank‘s team signifies a strategic investment in bolstering their white-collar defense and investigations capabilities. Heller’s unique blend of experience as a former federal prosecutor and her involvement in cutting-edge areas like cryptocurrency and communications record-keeping align with Milbank‘s commitment to providing their clients comprehensive and effective legal counsel. As regulatory scrutiny intensifies, legal professionals with a deep understanding of the complexities of white-collar cases and investigations are poised to play an increasingly pivotal role in safeguarding the interests of businesses in the financial sector and beyond.
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