Sullivan & Cromwell has named Sydney partner Waldo Jones as the head of Australia practice, replacing Robert Chu, who is stepping down from the post.
A U.S. securities law specialist, Jones mostly advises on debt and equity offerings in Australia. Last year, he advised Deutsche Bank, Merrill Lynch and UBS as the joint lead managers on Melbourne-based Viva Energy Group Ltd.’s $2.2 billion initial public offering on the Australia Securities Exchange. He has acted on bond offerings by large Australian corporations such as gas pipeline operator APA Group, power company Ausgrid Group and packaging company Amcor Ltd.
Like many Sullivan & Cromwell partners, Jones has spent his entire career with the Wall Street firm, having first joined in New York in 1990. He relocated to the firm’s Melbourne office four years later and moved to head up the Sydney office in 2001, when it was launched. Jones became a partner in 2017, after more than 26 years with the firm, including 15 years as special counsel leading the firm’s Sydney office.
Melbourne-based Chu is stepping down from the firm’s partnership but remains as senior counsel. An M&A lawyer, he has advised Australian telecom giant Telstra Corp. Ltd. on several transactions including a $1.6 billion 2016 sale of holdings in Chinese online car seller Autohome Inc. to Ping An Insurance Group. Chu moved to Melbourne in 2009 from Beijing, where he headed the office. He had been a partner since 2008 and first joined the firm’s New York office in 1999.
Sullivan & Cromwell was one of the first U.S. firms to enter Australia; it first opened in Melbourne in 1983 and added a Sydney office in 2001. The firm has eight lawyers between the two offices.