Orrick raids Kirkland for its global capital markets leader

Orrick, Herrington & Sutcliffe hired a Kirkland & Ellis capital markets partner who spent more than 13 years at the firm to be its new global capital markets leader in Chicago, with a second Kirkland capital markets partner joining alongside him. King & Spalding added two structured finance partners in New York, hired from McDermott Will & Schulte, and Sidley Austin added an energy partner in New York, hired from Milbank's project finance team. The American Lawyer reports the recent litigation group exit at Wachtell Lipton Rosen & Katz has rival firms working to recruit there, with more poaching attempts likely as rivals grow their profitability.

On the deal side, Intel is selling $15 billion of new stock, its first public share sale since 1971, with Gibson, Dunn & Crutcher advising Intel and Davis Polk & Wardwell representing the underwriters.