Wachtell Lipton Rosen & Katz and Munger Tolles & Olson have taken lead roles on Warren Buffett’s $5bn (£3.1bn) investment in Bank of America (BoA), reports The Am Law Daily.

The billionaire philanthropist (pictured) is investing in the struggling banking giant via the purchase of 50,000 shares by his holding company, Berkshire Hathaway.