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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In the United Kingdon, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for eight years. These partners are highlighted below and throughout the editorial.
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United Kingdom > London > Dispute resolution > Banking litigation: investment and retail > Law firm and leading lawyer rankings

Editorial

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Index of tables

  1. Banking litigation: investment and retail
  2. Hall of Fame
  3. Leading individuals
  4. Next generation lawyers

Leading individuals

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Next generation lawyers

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Who Represents Who

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Regularly instructed by leading global financial institutions on their most important and complex matters, Allen & Overy LLP¬†is 'among the very best banking litigation practices'. The team advises on the full range of issues affecting clients in the financial sector, ranging from major regulatory investigations to high-profile disputes. Calum Burnett¬† and Mona Vaswani¬†¬†co-heads the banking, finance and regulatory litigation practice. In one of the most significant actions brought by parties seeking to avoid obligations, in relation to contracts referencing interest rate benchmarks, by raising allegations of implied misrepresentation and IBOR manipulation, Andrew Denny¬†led advice to HSH Nordbank, Bayerische Landesbank, ING Bank and Caixa D‚ÄôEstalvis, (the second to fifth defendants) on a ‚ā¨800m dispute arising out of the ¬£1.5bn purchase of Santander‚Äôs global headquarters in 2008. Denny¬†'has a¬†fine track record for high-quality, complex investment banking disputes, is always on top of the issues in a case and gives his all for his clients'. In other highlights,¬†Arnondo Chakrabarti¬†defended Credit Suisse, successfully defending a mis-selling claim by an investment fund relating to structured notes, which raised important questions of broad application for capital markets lawyers on the duties owed to a party who has an economic interest in certain types of bond instrument and the impact of foreign law on those obligations. Marc Florent¬†specialises in all contentious aspects of structured finance (particularly derivatives disputes) and insolvency;¬†Mahmood Lone¬†and¬†James Partridge¬†are also highly rated,¬†as is counsel Oliver Rule;¬†John O‚ÄôConor retired from the practice.

Able to handle a large volume of high-end litigation, Clifford Chance LLP¬†is 'a¬†first-rate banking litigation firm handling complex banking litigation on behalf of a wide range of financial institutions'. It¬†acts in some of the most high-profile banking disputes and investigations both within the UK and globally. The team‚Äôs workload spans a range of complex financial products, derivative transactions and aircraft financing as well as industry-wide issues such as Libor rate setting, Forex manipulation, the credit default swaps (CDS) market, and the Panama Papers; the firm also has in-house forensic accounting capability. Kelwin Nicholls¬†who is 'a¬†very talented, unflappable lawyer who provides superb advice on highly complex matters', Ian Moulding¬†and Helen Carty¬†co-lead the firm‚Äôs London-based banking litigation team; in a high-value case involving the duties and role of an arranger in an Islamic financing transaction, Nicholls and Michael Lyons¬†defended BNP Paribas against two parallel proceedings filed in the Commercial Court, surrounding a landmark $650m Islamic finance bond involving the Saudi conglomerate, Saad Trading, Contracting and Financial Services Company; and Carty defended Deutsche Bank (DB) against a claim for over ‚ā¨800m brought by Vestia, one of the largest Dutch housing associations, in relation to derivatives transactions it entered into with DB. Former global head of litigation Jeremy Sandelson, who is 'a superb client-handler, a highly sophisticated tactician and a delightful team leader'¬†stepped down from the role and was replaced by Matthew Newick; and¬†Christopher Yates¬†has a particular speciality in finance disputes with a cross-border element involving investments in developing economies. Other key advisers include¬† Julian Acratopulo, who is 'clever, sophisticated, charming and utterly committed to the client',¬†Simon Davis, Roger Best¬†and Jeremy Kosky¬†, together with¬†Matthew Scully¬† and¬†Roger Leese. The key senior associates are Lindsay Bickerton¬† and Kate Scott.

Freshfields Bruckhaus Deringer LLP  ’s practice is highly rated for the global defence of its financial institution clients, including high-profile investigations. Examples of highly significant work include leading the representation of the senior creditor group in the Lehman Brothers International (Europe) administration waterfall proceedings, which involved a series of complex and novel issues of banking and insolvency law relating to the effect of International Swaps and Derivatives Association and other transactional documents to determine the allocation of the £7bn surplus in the administration. Simon Orton, who leads the financial institutions disputes group, recently advised significant global financial institutions on multi-jurisdictional investigations concerning activities in various trading businesses; and David Scott, who heads the firm’s global dispute resolution practice, specialises in banking and financial services litigation and regulatory proceedings, and acts on a wide range of banking and commercial disputes for banks, asset managers, insurance companies and other financial institutions. Other recommended practitioners include Andrew Hart, whose recent experience includes advising Deutsche Bank on its successful defence of an $8bn claim by Sebastian Holdings arising out of its foreign exchange and prime brokerage operations; Christopher Robinson, who frequently works on cross-border investigations with a financial services or financial crime focus; and Ian Taylor, who recently acted for clients in multi-jurisdictional disputes that arose out of the credit crunch and sub-prime crisis, particularly claims involving derivatives and structured products. Sarah Parkes and Piers Reynolds are also key advisers.

'A top-tier banking litigation practice with a strong mix of investment and retail bank disputes', Herbert Smith Freehills LLP continues to advise many of the largest national and international banking groups and other major financial institutions on their high stakes, complex litigation cases. Recent work included high-profile shareholder actions and multiple parallel claims arising out of contentious issues such as the Panama Papers, mis-selling, film finance, interest rate swaps and tailored business loans. The 'very impressive' Damien Byrne Hill , who  assumed the role as head of disputes for UK and US in 2018, is 'among the very best banking litigators; he is direct, focused, and robust in his approach'. Simon Clarke  handles highly complex banking and financial services litigation, often involving structured products and derivatives. The 'immensely hard working and fun-to-work-with' Harry Edwards, who is 'a strong litigator with a deservedly rising profile', led advice to Watchstone (formerly known as Quindell) on a threatened group litigation brought by shareholders of Watchstone, arising out of various public announcements made by the company in 2013; the claim, if pursued, would be one of the first claims brought on the basis of section 90A of the Financial Services and Markets Act 2000, which provides a cause of action for investors who buy, sell or hold listed securities in reliance on deliberately misleading information published to the market. Other key advisers are the 'first-rate, bright and insightful' Rupert Lewis, who 'has shown that he can handle even the most challenging cases superbly'; and John Corrie, who is 'a very able litigator who combines high intellectual ability with great charm'. Chris Bushell, Adam Johnson QC, Gary Milner-Moore and John Whiteoak are also highly rated; Donny Surtani was made partner; and Julian Copeman returned from secondment to the firm’s Hong Kong office. The key senior associates are Ajay Malhotra, Tom Henderson and Emma Deas. James Norris-Jones  joined  Cleary Gottlieb Steen & Hamilton LLP.

'A solid choice for any kind of banking litigation', Hogan Lovells International LLP 'has an excellent track record with impressive litigators'. The practice regularly acts for the biggest, most active global banks and financial institutions in cases involving benchmark manipulation, distressed assets, mis-selling, consumer finance, aviation finance, and complex structured products; and the team was recently particularly active in the Financial List, the specialist list set up by the Commercial Court to address the unique needs of parties litigating the most important financial matters. 'A strong all-rounder who gives sensible, commercial advice', Louise Lamb has handled disputes and investigations across the retail banking, wealth management, trade finance and investment banking sectors; Lamb is 'a first-rate lawyer with excellent client-handling skills and who is difficult to fault'. Philip Parish, who is 'a measured, thoughtful and calm practitioner who adopts a collegiate approach to his work', has particular experience in disputes involving derivatives and complex financial products, including mis-selling and mismanagement claims. In a case that provided clarity on the extent of a bank’s duties to customers and the information that banks are required to disclose in connection with interest rate hedging transactions, Parish successfully led advice to Bank of Scotland on allegations of breach of contract, misrepresentation and the suitability of a swap. Whiston Bristow’s practice focuses on mis-selling and misrepresentation claims, large portfolio claims against banks, and aviation and trade finance disputes; Bristow is 'a very thorough litigator with an eye on the bigger picture'. Other highly rated practitioners include John Tillman, who has particular expertise in litigating distressed and default situations; and Claire Lipworth , who in 2017 joined from the Financial Conduct Authority (FCA), where she was chief criminal counsel. Jon Holland and Andrea Monks left for Latham & Watkins in 2018.

The 'excellent and commercially astute' Linklaters LLP is widely known for handling high-profile and significant matters with financial and reputational impacts for its clients; and the firm fields lawyers with banking litigation expertise relating to insolvencies, derivatives and structured financial products, and misrepresentation along with fraud issues, mis-selling claims and contractual disputes, lender enforcement actions, and consumer credit issues. Cross-border highlights include successfully defending the Bank of New York Mellon (BNYM) in expedited London High Court proceedings brought by the Republic of Kazakhstan (ROK) and the National Bank of Kazakhstan; RoK sought a declaration that BNYM should not have frozen over $22bn of its assets held by BNYM under the terms of an English law-governed global custody agreement. Christa Band is banking litigation practice head, Satindar Dogra is London dispute resolution head and the global dispute resolution head is Michael Bennett. Patrick Robinson  has a broad banking and financial markets disputes practice, particularly regarding derivatives and structured products disputes; Andrew Hughes has extensive experience of banking disputes and fraud and regulatory investigations; and Alison Wilson has a particular focus on contentious regulatory work. Other highly rated individuals are Nick Porter , Euan Clarke, Harriet Ellis and Kathryn Ludlow , together with Susan Roscoe , Nick Porter, Rory Conway, Ros Gallagher, and Susana Cao Miranda. Jonathan Swil is a notable managing associate. James Gardner retired from the firm.

Slaughter and May has particular expertise in high-value, technically-demanding, multi-jurisdictional disputes. The practice’s scope involves complex, structured products and sophisticated, financial derivative instruments, and it stands out for global regulatory investigations. The team acts for a broad spectrum of clients in the financial sector, including investment banks, major building societies, accountants, hedge funds, actuaries and private equity firms. Highlights included advising Banco Santander Totta (BST) on successful litigation, which arose out of interest rate swaps between BST and the defendants, which are publicly-owned Portuguese companies; this matter was the first case to be tried in the Financial List, the new dedicated financial court. It also acted for Mercuria Energy Europe Trading in dishonest assistance and fraudulent trading claims brought against it and its co-defendant, RBS that arose out of trading in the carbon emissions market. Sarah Lee is team head and Jonathan Clark's international banking practice includes advising on litigation involving derivatives transactions, benchmark manipulation and regulatory investigations, often ranging across multiple jurisdictions. Other key advisers are Deborah Finkler, Ewan Brown, Richard Swallow, Richard Jeens and Damian Taylor.

Addleshaw Goddard¬†has a full-service banking litigation practice, which includes highly developed financial regulatory and financial crime expertise; and the team is regularly engaged in matters involving international or cross-border elements. The team successfully defended (up to Supreme Court level) Kommunale Wasserwerke Leipzig, the water authority for Germany‚Äôs City of Leipzig, against an approximately ‚ā¨350m claim brought by UBS that involved the sale of derivatives and bribery and fraud issues. Department head Michael Barnett, who is 'hugely experienced in banking litigation and invariably gets the right approach in tricky disputes',¬†is recommended for investment banking, derivatives and structured finance cases; and¬†Mark Gill¬†handles major banking and financial disputes, including cases featuring financial products such as derivatives and swaps. Gill is 'a master litigator with exceptional powers of analysing and simplifying complex problems, allied with great tactical skills'. Other key contacts are¬†Chris Brennan¬†, who¬†specialises in financial services regulatory matters, enforcement and disputes; the¬†'highly skilled strategist'¬†Richard Clayton,'a brilliant problem solver with finely-honed litigation skills¬†who achieves very successful outcomes'¬†and whose ¬†recent experience includes cases involving derivatives, other structured credits, trade finance, securitisation, bonds, mandate and prospectus issues; and James Herring, whose¬†expertise includes mis-selling claims, claims relating to lending and security issues, derivatives and structured products. Further names to note are corporate crime and investigations practice head¬†Nichola Peters¬†and Michelle de Kluyver, the latter joining from Allen & Overy LLP, bringing extensive expertise in cross-border investigations.

'One of the best around', Ashurst's 'excellent team' acts in some of the largest UK finance cases, while the practice is increasingly involved in matters with an international element. The range of disputes on which the firm recently advised includes contractual interpretations, defence of senior individuals, enforcement and dispute of validity of major arbitral awards, and enforcement of security following borrower defaults. Other areas of note are film investment schemes, fraud, deceit and conspiracy claims, freezing orders, global master repurchase agreement close-out disputes, and issues arising from the restructuring and insolvency of counterparties and borrowers. The practice successfully acted for Cerberus Capital Management, as Third Defendant, in a claim for conspiracy by unlawful means to engineer a sale of at an undervalue by way of an administration; and in a significant bet-the-firm matter, it defended Daiwa Capital Markets Europe against Singularis Holdings’ $200m-plus claim for breach of duty and dishonest assistance. Team head Lynn Dunne is 'a highly effective, streetwise litigator who is recommended without hesitation'; David Capps specialises in finance-related disputes, financial regulatory enforcement matters and internal investigations; James Levy 'has excellent judgment, is very commercial and is a pleasure to work with'; and Tom Connor specialises in financial services litigation. Edward Sparrow and Jon Gale are also key names.

Latham & Watkins recently hired Jon Holland, 'a highly experienced litigator who has overseen highly complex regulatory investigations' and Andrea Monks, who 'brings great focus and energy to her cases and is always on top of the issues'; the both joined from Hogan Lovells International LLP and have advised retail and investment banks, asset managers, and other financial institutions on high-profile disputes and contentious regulatory matters. Recent matters include defending Barclay Bank, as security agent, on a dispute involving the £525m bond financing of the Four Seasons Healthcare Group (FS), which arises from an alleged common mistake that FS alleges gives rise to a right to rectify the terms of security given by it; the matter is of particular relevance to the legal and business community as it should clarify the laws on rectification of contracts. The practice also acted for an international investment firm (and other entities) in their defence to a clawback claim of over $1bn brought under the 1986 Insolvency Act; the claim related to a financing transaction for Hellas II, one of Greece’s largest telecoms companies, which later went into insolvency. Oliver Browne and Martin Davies head the team; Davies is 'a calm and strong lead partner for high-value, complex claims, and he gives excellent client service and is able to marshal his team, counsel and outside parties with real skill'. Stuart Alford QC focuses on economic crime and regulatory matters; and Philip Clifford QC recently took silk. Jumana Rahman and Dan Smith are key counsels.

Mayer Brown International LLP’s Ian McDonald >acts for banks and funds, particularly in high-value disputes relating to loan structures, structured finance and derivatives, many of which have cross-jurisdictional elements. McDonald 'has great legal judgement and commercial acumen, and is a real team player who at the same time knows how to lead a team'. Other highly regarded advisers include David Allen, who has particular experience in banking and insolvency litigation, including several high-profile insolvency proceedings; Alistair Graham, noted for regulatory and fraud investigations, white-collar work and international asset tracing; and Susan Rosser, who acts in disputes involving complex financial products, regulatory investigations and enforcement as well as professional discipline, corporate investigations (including fraud and corruption), and professional negligence claims. The practice represented UBS in long-running litigation in London against Kommunale Wasserwerke Leipzig, which provides fresh and wastewater services to the City of Leipzig and surrounding area; the litigation, which went to the Supreme Court, involved claims for approximately $320m arising from the enforcement of various structured finance transactions.

Norton Rose Fulbright 'has great depth of experience and knowledge in this practice area'. The team regularly acts in some of the most significant high-value banking and finance disputes; the team advises banks on disputes involving the whole range of banking products, including derivatives, bonds and structured finance, commodities and trade finance, and Islamic finance. The practice includes lawyers who are experienced in acting for banks in corporate crime investigations, fraud, asset-tracing and enforcement, enforcement of ship and aircraft mortgages, and insolvency disputes. It acted for The Law Debenture Trust Corporation, a corporate trustee, in a high-profile $3bn-plus Commercial Court claim (that went to the Court of Appeal in 2018) against Ukraine, brought on behalf of note holders to enforce payment of notes issued by Ukraine in 2013. Michael Godden heads the department; Paul Morris is 'a safe pair of hands and a sensible and pragmatic litigator'; and Matthew Waudby is 'the most extraordinary person, whose strategic and analytical thinking is impressive and he manages the most stressful situations in a calm and undisturbed manner'. Other key contacts include Lista Cannon, Radford Goodman, David Harris and John Verrill, the latter joining after the firm’s merger with Chadbourne & Parke LLP. Harriet Jones-Fenleigh  and Dominic Hennessy  are key of counsels. Chris Warren-Smith and Melanie Ryan joined Morgan, Lewis & Bockius UK LLP .

Acting for banks, insurers, reinsurers, hedge funds, and other market participants, Quinn Emanuel Urquhart & Sullivan, LLP has deep experience in banking disputes, including lender-liability actions, suits by loan participants, actions arising out of letters of credit and other forms of commercial paper, commercial and residential foreclosure actions, and loan fraud matters. The practice is also expert in matters relating to complex financial products such as CDOs, credit default swaps and all types of derivatives. It acted for private equity firm PCP Capital (PCP) in a £1.5bn claim against Barclays; the claim arose out of fraudulent misrepresentations that PCP alleges were made to it by Barclays during the negotiation of its participation in Barclays’ 2008 capital raisings. The London co-managing partners are Richard East and Sue Prevezer QC; other names to note are Robert Hickmott, Matthew Bunting, Nick Marsh and Khaled Khatoun, along with Alex Gerbi and Ted Greeno. Paul Friedman joined gunnercooke LLP , while David Berman left for Latham & Watkins.

'One of the best firms for a client up against a big financial institution', RPC's conflict-free practice is able to act against investment banks for parties such as European regional banks, pension funds, hedge funds, other asset managers, and the investment vehicles of high-net-worth individuals. Representative work for the 'sound, concise, precise and effective team' includes disputes involving corporate bonds, hybrid products and complex structured investment products as well as disputes involving loan facilities and fraud; and the practice has experienced increasing amounts of insolvency and restructuring work. It acted for Cypriot company MountainPeak Trading, a wholly- owned subsidiary of German company Adler Real Estate, in its claim against Citibank in the English High Court for damages arising from an alleged overpayment under a facility agreement; the case raises interesting issues regarding the law of duress in a commercial setting. Department head Tom Hibbert 'must be about the best litigator around when going against a bank'; Simon Hart 'really knows his subject'; and Andy McGregor is 'a high- class performer'. Davina Given and Parham Kouchikali are also highly regarded. Jonathan Cary returned to London from the Hong Kong office and Chris Ross was made partner. Alan Williams is a key senior associate.

Simmons & Simmons’ international financial markets litigation group is 'simply outstanding, responsive, thorough, detailed and creative'. It focuses on contentious work for financial institutions, asset managers and hedge funds; and the practice combines expertise in financial markets litigation, investigations and contentious regulatory matters, and financial crime. Tim Boyce, who heads the financial markets litigation practice, acts for financial institutions in regulatory investigations, disputes and fraud claims; and Robert Turner’s experience includes acting for Icelandic bank Kaupthing in Commercial Court proceedings, relating to a multi-currency debt of over £300m and high-value assets provided as security for the debt; the proceedings in London raised complex factual and legal issues relating to fraud, market abuse, insider dealing and the enforceability of contracts for an illegal purpose, among others; Turner is 'simply excellent; clients appreciate his calm demeanour and his incisive and clinical approach'. Other highly regarded practitioners include Richard Bunce, whose practice is based exclusively on financial markets disputes and has a strong international focus and Caroline Hunter-Yeats, who has a particular focus on wealth management firms and complex products sold to high-net-worth investors as well as senior partner Colin Passmore, Ed Crosse, Robert Allen, Paul Baker and Alexander Thavenot.

'A top firm for claimants and highly recommended for banking litigation', the 'smart and user-friendly' conflict-free firm¬†Stewarts Law LLP¬†is the largest litigation-only law firm in the UK and acts for some of the world‚Äôs biggest financial institutions, companies, multinational corporations and high-net-worth individuals; the team has also expanded into new areas of disputes work, such as securities litigation. The practice acts in complex, large-scale and high-value banking disputes and has significant experience of litigation funding; and the civil fraud group's work often involves complex financial instruments and structures. In a high-value, complex matter involving multiple jurisdictions, it acted for the liquidators of Kaupthing in connection with a ‚ā¨500m claim against Deutsche Bank, which arose from the sale of complex banking derivatives; and in¬†a dispute that raised fundamental questions about the duties of banks that issue Islamic corporate bonds, the team acted for both hedge funds that bought a bond and the company that issued the bond. ¬†Clive Zietman¬†is department head,¬† Marc Jones¬†'runs litigation very well', and Fiona Gillett¬†is 'a¬†very able lawyer, who has a great touch with clients'. Other key advisers are¬†¬†Sean Upson,¬†Keith Thomas,¬†Paul Brehony,¬†Ian Gatt QC¬†and¬†David Hughes¬†. Lucy Ward¬†and Laura Jenkins¬†were promoted to the partnership.¬†Elaina Bailes¬†is a key senior associate.

'A rising force in the banking disputes market', Travers Smith LLP 'has a fantastic team and is very well-placed to service the top cases'. It has extensive experience of handling complex banking disputes, including technical disputes relating to share transfers, money transfers, breaches of mandate, the operation of the CHAPS system, cheques and other instruments; matters involving allegations of fraudulent activity; and instructions arising out of the global financial crisis that involved trades in derivatives and CDOs. The team advised the Bank of England (BoE) on the Serious Fraud Office (SFO) investigation into crisis-era liquidity auctions; the investigation looked into whether the BoE favoured certain financial institutions in bids for funding facilities, potentially to the detriment of other firms. Rob Fell is the recently appointed dispute resolution head, taking over from 'standout individual' Stephen Paget-Brown, who moved to an outward facing senior litigator role focusing on business development; Fell is 'a leader in this area and a superb choice as the firm's head of this department'. Other widely respected litigators are Andrew King, Caroline Edwards, Jan-Jaap Baer, Huw Jenkin, and Toby Robinson; Sam Cottman is a key senior counsel.

Akin Gump Strauss Hauer & Feld’s 'provides an impeccable level of service through its deeply experienced and strong team'. It is known for cross-border creditor litigation; and the firm has significant expertise in acting for hedge funds and other investment firms on international investor disputes, with a particular focus on disputes in the distressed debt space, debt disputes and shareholder activism. The team also assists with restructuring-related litigation. Highlights included advising an investment fund, Cornwall Luxembourg, in High Court litigation against International Game Technology on the disputed liability of the defendant to pay dividends; the matter raises an important question of Italian corporate law, albeit to be resolved in this case by the English court. Financial services litigation head Mark Dawkins acts in complex, high-value disputes and investigations, often of a multi-jurisdictional nature; Richard Hornshaw is 'deeply skilled, pays exceptional attention to detail and is an incredibly knowledgeable and experienced litigator'; and Kambiz Larizadeh has a particular focus on civil fraud.

Able to act on large and complex cases, Baker McKenzie’s team heads are Hugh Lyons and Jonathan Peddie. Much of Lyons’ work arises from disputed financing transactions, restructuring and insolvency, fraud and financial misconduct; and Peddie advises clients, primarily in the banking and financial services sector, in relation to corporate investigations, regulatory enforcement, financial crime, and civil and criminal litigation. In a case that showcases the practice’s strength in dealing with cross-border disputes, it acted for Dubai Islamic Bank in proceedings to recover approximately $500m stolen from it in a complex receivables financing fraud. Edward Poulton is noted for his advice to clients on managing risk and resolving disputes relating to financial services; and Charles Thomson was recently seconded to a retail bank to head up the EME fraud team, where he advised on money laundering and anti-corruption related matters, as well as matters that resulted in litigation before the High Court.

Bryan Cave Leighton Paisner LLP was formed in 2018 from the merger of Berwin Leighton Paisner LLP and Bryan Cave. The practice 'provides an efficient, value-for-money service; it has a close-knit team of litigators and works very well together and with counsel'. Oliver Glynn-Jones heads the firm’s banking litigation team and specialises in all aspects of financial litigation; Glynn-Jones is 'an outstanding all-round litigator with an acute sense of long-term strategy in complex, high-value litigation and he is superb with clients, barristers and opposing solicitors alike'. Segun Osuntokun’s cases arise out of or involve the banking and financial services industry and he heads the firm’s Africa Group. The team acted for Citicorp Trustee Company, as delegate of the issuer and trustee of a $650m Sukuk, in a claim against BNP Paribas for misrepresentation, negligence and breach of contract in its role as arranger, sole bookrunner and lead manager of the Sukuk. It also advised Access Bank, one of the largest banks in Nigeria, on its successful claim against its former CEO and managing director, which claim included allegations of misappropriation of the bank’s funds and the operation of an illegal share purchase scheme. Oran Gelb is also highly rated and Sarah McAtominey and Clare Reeve are notable senior associates.

A significant strength of Cleary Gottlieb Steen & Hamilton LLP’s practice is its ability to handle complex cross-border disputes; and matters involving financial and banking regulatory investigations and enforcement continue to feature heavily in the firm’s London practice. The team acted for HSBC in a substantial, high-profile global investigation by multiple global law enforcement authorities concerning allegations of bribery and corruption by Unaoil (and related companies and individuals) in various jurisdictions in Europe and the Middle East; it also acted for a major international bank in threatened litigation against the bank, as well as an investigation into various misconduct allegations made by whistleblowers in England and Italy. Jonathan Kelly has significant experience in banking and financial services disputes, and regulatory investigations, and Sunil Gadhia’s practice encompasses substantial English and international disputes, investigatory, and enforcement work. James Norris-Jones  joined from Herbert Smith Freehills LLP. James Brady is a key senior associate.

CMS’ key London contacts include Tom Dane, whose experience includes acting for banks on disputes arising from commercial and retail banking operations, such as remediation programmes, breach of mandate claims, and defending claims involving allegations of mis-selling and fraud. The practice has extensive experience conducting large-scale investigations and reviews into financial crisis-related conduct and practice; the firm also fields experts in mis-selling litigation, complex financial disputes and enforcement actions. Philip Woodfield heads the banking litigation team in Bristol; other recommended contacts are Guy Pendell, Alison McHaffie, Maxine Cupitt, Omar Qureshi, and Gemma Lampert  in Edinburgh. Vanessa Whitman  is a highly regarded senior associate. Growth in the team saw Elisabeth Bremner,who acts in a broad range of disputes involving financial institutions (many of which include a strong international element), join from Norton Rose Fulbright, while former finance disputes leaderDuncan Aldred retired from the partnership

Free of conflicts of interest and 'delivering service, knowledge and skills that are impeccable and of the highest quality', Cooke, Young & Keidan LLP 'has carved a solid reputation on the claimant side'. The practice regularly acts against financial institutions, and the practice is well known for acting in major claims in the financial sector. Recent work includes obtaining a suite of orders to assist tracing stolen sums for CMOC Sales & Marketing, part of the China Molybdenum mining conglomerate and the victim of a fraud whereby monies were stolen from its bank accounts following a sophisticated payments fraud; it also assisted the third defendant in Commercial Court litigation proceedings issued by a UK fund manager for a Libyan capital investment fund, FM Capital Partners, which alleged breach of fiduciary duties, related proprietary claims and unlawful means conspiracy in the structuring of complex structured products and investments. The 'diligent and knowledgeable' Philip Young focuses on substantial fraud-related cases, including those requiring urgent injunctive steps, and Marc Keidan, who is 'tenacious and aggressive', is best known for his claimant-side work. Other key names are the 'calm and knowledgeable' Sinead O’Callaghan and Stephen Elam; Lydia Danon  and Daniel Burbeary were made partners.

In late 2017, Dentons merged with Scottish firm Maclay Murray & Spens, which brought in Craig Neilson. The financial disputes and investigations group represents major financial institutions in complex, high-profile disputes; and is 'widely respected as a top litigation practice in the retail banking sphere and is highly visible in leading cases'. The practice’s scope covers wholesale banking disputes such as swaps mis-selling cases, letters of credit, fraud, and professional negligence; investment banking disputes including structured products and credit default swaps; and corporate agency and trustee disputes. It defended RBS against a headline £670m claim, arising out of the aborted issuance of commercial mortgage backed securities and brought by the sole shareholder of the Opal Group Companies, which was one of the UK's leading student accommodation providers before entering liquidation. The 'highly regarded' team head Daren Allen is focused on white-collar crime and investigations and is 'very experienced in retail banking litigation and tough when he needs to be'; Richard Caird is particularly noted for high-profile derivatives cases; Felicity Ewing, who is 'a very capable and careful lawyer who handles complex matters', specialises in financial services disputes and contentious regulatory matters; and Thomas Leyland is 'a highly accomplished practitioner who is commercially focused, thoughtful, calm and a delight to deal with'. Celyn Armstrong is also highly rated and Natalia Fludra is a notable senior associate.

DLA Piper's 'lawyers are very good indeed, do not hesitate to add real value in terms of legal analysis and strategy, and are always straightforward to deal with'. Others praise 'the excellent supervision over the up-and-coming associates, giving strength in depth'.¬†The practice is highly rated for handling complex and high-stakes domestic and cross-border mandates in the financial services sector. Domestically, the practice recently secured key victories for its clients in strategically significant and bet-the-bank matters before the English courts; and in international matters, it was particularly active in bank fraud matters, where assets have been misappropriated and moved between financial institutions in multiple foreign jurisdictions. In one of the largest and most publicly-sensitive cases to emerge from the 2011 Cypriot banking crisis, the team acted for Cyprus Popular Bank Public Co (in Special Administration) in its actions to recover losses of up to ‚ā¨3.5bn, arising from allegedly fraudulent transactions. Jean-Pierre Douglas-Henry¬†was promoted to international head litigation and regulatory group head in 2017; the UK co-head of litigation and arbitration is¬†Jeremy Andrews;¬†Jamie Curle¬†'has strong legal knowledge, an astute tactical sense and good team management, and is invariably polite, calm and a pleasure to work with'; and ¬†Paul Smith¬†is 'immensely experienced and knowledgeable in interest-rate swap mis-selling cases and so able to give genuinely valuable insights to counsel'.¬†Tony Katz¬†and¬†James Carter¬† are also widely respected.

Acting for states, central banks, sovereign wealth funds, hedge funds, private equity funds and high-net worth individuals, Enyo Law LLP is a conflict-free, go-to law firm for banking litigation that 'provides an excellent level of service, including immediate responses, and is good value for money'. Historically instructed by claimants suing banks, the practice increasingly advises on inter-bank disputes, where one of the banks has a conflict of interest. The practice was instructed by BDO, as receiver and manager on behalf of The Libyan Investment Authority, in a claim against French bank Société Générale (SG) and others that SG funnelled corrupt payments of approximately $58m through a Libyan intermediary with connections to the Gaddafi regime. Simon Twigden’s dispute resolution experience includes fraud and the mis-selling of complex derivative products and ISDA issues; the 'innovative' Edward Allen , who is 'absolutely excellent', has particular experience in proceedings involving complex financial disputes and civil fraud, frequently acting against banks; and Pietro Marino , who is 'a star of the firm', specialises in cross-border fraud and related wrongdoing. Jonathan Brook is also highly rated, along with recently promoted Nick Jones, who is 'very knowledgeable, responsive and collaborative', Tim Elliss, and of counsel Rachel Bennet. Michael Green joined RGL Management.

Regularly acting in complex finance disputes, Reed Smith LLP is 'a very impressive firm with some real stars'. Its client base includes both issuers and trustees, including disputes turning upon commercial mortgage-backed securities (CMBS), collateralised loan obligations and credit default swap transactions. Nick Brocklesby, who has considerable experience of complex banking litigation and 'has great experience in banking and structured finance', and Richard Spafford head the team. The practice acted for a large bank, as agent bank for a syndicate of various banks, in an ongoing dispute before the Commercial Court with three companies, pursuant to a high-value facility agreement. Other recommended advisers include Charles Hewetson, who advises financial institutions on disputes with other financial institutions and customers, and complaints and proceedings brought by various financial regulators; Ben Summerfield, who has acted for issuers in disputes and court proceedings involving CMBS transactions; Tom Webley, whose experience includes regularly advising banks, and senior officers within banks, on disputes and regulatory enforcement proceedings; and Gautam Bhattacharyya , the former managing partner of the firm’s Singapore office. George Hoare was promoted to counsel and Felicity Dart is a key senior associate.

Signature Litigation LLP 'does a good job of predicting the potential moves of opponents and taking countermeasures in advance'. The practice advises on all aspects of large-scale banking litigation. Highlights included acting for one of the three lead groups of RBS shareholders, which brought unprecedented claims under the Financial Services and Markets Act’s section 90, against RBS with respect to its failed 2008 rights issue; the work involved the first major test of the section 90 liability, supported by a huge evidential a>nd forensic review of RBS’ businesses, particularly in relation to liquidity, capital and credit market exposure. The team also acted for Desiman, a property company, against Bank of Scotland, HBOS Treasury Services and Lloyds Bank for mis-selling LIBOR- referenced interest rate swaps; breach of implied representations; and wrongful appointment of administrative receivers.Graham Huntley is the founding partner and Abdulali Jiwaji 'has an ability to analyse difficult issues and provide concise and clear advice'. Other highly rated litigators are Simon Bushell, Julian Connerty, Daniel Spendlove and Natalia Chumak, along with Adam Rooney, Hermes Marangos, Ioannis Alexopoulos and Josh Wong, while Rory Spillman is a notable senior associate.

Finance litigation is a core practice area for Stephenson Harwood, which frequently advises on matters involving litigation in multiple jurisdictions and 'combines excellent sector knowledge with a genuine litigation focus'. The 'excellent team provides very prompt responses and is very strong at analysing cases' strengths and weaknesses'. Key work included acting for Natixis in a claim against Marex Financial (an independent commodities broker and trader) and Access World Logistics (Singapore) (a Glencore-owned provider of London Metal Exchange warehousing), which involved five spot-purchase contracts (and related repo transactions) for the sale of nickel; the case is expected to produce significant implications in the context of commodity financing, particularly the use of warehouse receipts in repo and other transactions of this nature. In other matters, the group advised Commerzbank on its claims against Liquimar Tankers Management and Pauline Shippingo, which arose out of loan and guarantee documentation that contained asymmetric jurisdiction agreements. The finance co-litigation heads are Sue Millar and Edward Davis. Other recommended names are commercial litigation department head John Fordham, 'who has excellent knowledge of cases', Richard Garcia, Donna Newman and Richard Gwynne.

White & Case LLP’s finance litigation team handles a broad range of contentious areas, including court proceedings (in the UK and elsewhere), regulatory investigations, internal investigations, pre-action dispute advice, and questions on contentious or potentially contentious matters. The practice acted for Deutsche Bank in its response to investigations by multiple regulators, which arose from suspicious trading on its Moscow equities desk; the issues in the case included anti-money laundering controls, Know Your Client checks, sanctions, banking secrecy and data privacy. John Reynolds is London head of commercial litigation and co-head of the global financial institutions practice; and Charles Balmain is the EMEA regional section head for commercial litigation and white collar. Other names to note are London white-collar crime team head Jonathan Pickworth, Amanda Cowell, Rory Hishon and Joanna Dimmock. Key growth included hiring Hannah Field-Lowes, formerly co-head of disputes at Weil, Gotshal & Manges (London) LLP’s London office, and promoting Paddy Patrick to counsel.

Bird & Bird LLP acts in large, highly complex disputes in sectors such as technology and communications, energy and financial services. The team represented Property Alliance Group (PAG) in its claims against RBS, including mis-selling of interest rate swaps, unlawful mistreatment of PAG while it was within RBS’ discredited global restructuring group, and unlawful manipulation of LIBOR. The matter included assessing the duties owed by banks and financial institutions when marketing and entering into derivatives with their customers. Michael Brown represents clients in investigations and enforcement actions by the financial regulators and Jeremy Sharman is also highly rated.

Boies Schiller Flexner (UK) LLP 's London office 'has very quickly established itself as a leading litigation boutique in London for banking litigation; the firm has attracted some fantastic lawyers, has almost immediately been instructed in a range of high-profile and high-value cases, and the team is very client-driven and commercial'. It has particular experience in handling complex, cross-border banking litigation matters; the practice acted for the Class A1 note holders in proceedings against Canary Wharf Finance II, as issuer, which sought to redeem a portion of the notes ahead of maturity, without making a Spens payment that allows a borrower to redeem the bond early in exchange for a make-whole payment to compensate holders for lost interest. London managing partner and banking litigation head Natasha Harrison and Fiona Huntriss 'are both aggressive but pragmatic - they are really good people to have on your side'. Harrison is also reported to be 'an absolutely outstanding partner who leaves no stone unturned in order to ensure the best result for the client', while Huntriss is 'a stellar lawyer who is immensely hard-working, has a huge amount of experience and provides excellent strategic advice'.

Brown Rudnick LLP 'delivers impressive response times and very accurate and straightforward answers to all queries; the team is also analytical in research and business oriented, and has a good understanding of clients' needs'. The conflict-free team regularly acts in complex, global disputes against major financial institutions, multinationals and sovereigns. It acted for a wealthy Kuwaiti family in proceedings in the Commercial Court against Credit Suisse (UK) and Credit Suisse Securities (Europe) in relation to mis-sold structured capital-at-risk products. Neil Micklethwaite is head of international disputes Europe; and Jane Colston is 'to the point, calm and aggressive when needed, and always has very good knowledge of the case she is in charge of - she makes clients feel safe'. Other recommended names are Neill Shrimpton, Christian Toms and Nicholas Tse, who divides his time between London and Paris. Ravinder Thukral, Chloe Pawson-Pounds  and Olga Bischof were made partners; counsel Anupreet Amole was hired from Freshfields Bruckhaus Deringer LLP. Gerald Byrne is a key associate. Jean-François Le Gal left for Pinsent Masons LLP.

Eversheds Sutherland (International) LLP hired Jake McQuitty, a former head of investigations and enforcement EMEA at Barclays, from TLT. The 'down-to-earth and pleasant-to-deal-with team' covers all aspects of contentious civil, criminal and regulatory work for the firm’s major financial institution client base; in a long-running matter, Andrew Legg continued to defend Law Debenture Trust Corporation against litigation issues arising from its involvement as a bond trustee in five sets of bonds issued in the 1980s by various Bell Group companies; the case involves complex issues of statutory and contractual interpretation. Matthew Allen’s dispute experience includes structured products, derivatives and complex banking disputes; and David Flack, who is 'a good technical lawyer with commercial experience and pragmatism', is experienced in all aspects of wholesale and retail banking litigation and regulatory investigations work. Jennifer Miles and Mariafrancesca De Leo are also highly rated.

Fieldfisher's 'team is very knowledgeable, responsive and commercial; it is also very client friendly and the matter partner is always readily available'. The practice specialises in high-value, complex disputes, often for international clients, and the practice is increasingly involved in matters that combine litigation with insolvency or contentious regulatory issues. In an example of a high-value complex derivatives dispute concerning interpretation of the standard form ISDA Master Agreement, the team successfully acted for the liquidator of Lehman Brothers Finance in a claim against Belgian Bank, KBC Bank. The recommended advisers are Duncan Black, who is 'always very responsive and commercial in his approach to matters and in the advice he gives'; Kit Jarvis, who is 'a very tough negotiator and excellent at building client relationships'; and Andrew Lafferty and Aymen Khoury as well as directors Tracey Wright and the 'very helpful' Julia Dodds.

Jones Day 'combines the advantages of a big worldwide firm well-used to servicing huge corporate clients with a genuinely litigation-focused culture which routinely delivers excellent results for its clients'. The practice excels across the spectrum of banking litigation, from disputes relating to sophisticated bank products to high-profile cases involving major bank failures. Recent matters include acting for foreign exchange traders across various institutions involved in the international investigations and litigation surrounding the alleged manipulation of foreign exchange markets. The 'tactically astute' Sion Richards is particularly focused on major fraud, asset tracing, and corruption investigations, as well as contentious insolvency disputes; Lucas Moore is 'very clever and with a nice manner'; and Adam Brown is 'one of the finest solicitors around - a knowledgeable lawyer with a fine sense of judgment, he is very hardworking, efficient and supremely calm under pressure'. Harriet Territt is also highly rated.

Macfarlanes LLP's 'high-quality and hardworking associates and partners are accurate, professional, thorough and willing to be commercial, but not at the expense of legal precision'. The practice handles disputes and investigations involving banking, finance and financial services' business, including financial crime. Highlights included acting for British Bankers’ Association (BBA), and its subsidiary company BBA LIBOR, in defence of a multibillion-dollar claim in the High Court brought by the Federal Deposit Insurance Corporation (a US government body), as receiver for 39 US banks, against the BBA, BBA LIBOR and others; the case related to alleged suppression of the US Dollar LIBOR interest rate benchmark during the financial crisis. Barry Donnelly is highly rated, Dan Lavender is 'pragmatic, retains perspective and is good under pressure'; and Matt McCahearty is 'a solid lawyer who is growing in stature'.  Aalia Datoo is a notable senior solicitor.

With strong cross-border expertise, Milbank, Tweed, Hadley & McCloy LLP acts in large, complex banking disputes in the market. Julian Stait led the defence to Rabobank against competition and fraud claims brought by the Federal Deposit Insurance Corporation (on behalf of 39 failed US banks) in the English High Court against Rabobank and others for significant losses; these proceedings followed an alleged agreement between the defendants artificially to suppress USD LIBOR rates during the height of the financial crisis and raised complex procedural and evidential issues. Charles Evans and Tom Canning are also key advisers and William Charles is a well regarded senior associate.

Mishcon de Reya LLP's 'well resourced and experienced team'¬†acts in¬†large finance disputes, particularly in the private equity and hedge funds space. The team defended Maze Sarl against a Commercial Court claim concerning enforcement action taken by VTB, Russia's second largest bank over the majority shares in Vivacom, the largest telecoms network in Bulgaria, such shares being pledged to VTB as security for a ‚ā¨150m loan. Masoud Zabeti¬†heads the finance and banking disputes group; James Oldnall¬†is 'a very able individual'; and¬†Adam Epstein¬†is 'very clever, thoughtful and meticulous in his preparation and running of a case'. Derval Walsh, Mohammed Khamisa QC¬† and¬†Genevieve Quierin¬†are also highly rated, along with contentious regulatory partner¬†Guy Wilkes, who¬†was hired from Mayer Brown International LLP.¬†

Squire Patton Boggs 'possesses the necessary experience, expertise and calibre of lawyer to provide an excellent service across each stage of the litigation process'. The practice fields lawyers with expertise in international fraud and asset tracing claims and asset-based lending matters; and it regularly acts for banks, asset managers, trading platforms and other financial institutions in complex disputes, often with cross-border elements. The practice also specialises in all types of commercial and financial fraud investigations, including employee fraud. Laurence Winston heads up the firm’s CIS fraud initiative; and Gareth Timms is 'a fighting general who brings the attributes and calm judgment of someone who has seen it all before and is phased by nothing'. Other key names include Robert Weekes and Chris Webber, while the notable directors are the 'hardworking and analytical' Stephen Cole, who is 'a great lawyer to have in a client's corner and who gets on with the job with thoroughness and humour', and recently promoted Nicola Phillips.

Taylor Wessing LLP's banking litigation practice covers derivatives, collateralised debt obligations, funds and structured products; has extensive expertise in mis-selling disputes; and the firm fields lawyers with experience in complex, cross-border financial frauds. Shane Gleghorn’s experience includes acting for the liquidators of Cayman Islands’ company, Saad Investments Company, in high-value transatlantic banking litigation involving syndicated facilities and synthetic notes; Gleghorn is 'very bright, very professional and very good with clients'. Other key advisers are Laurence Lieberman, Tim Strong, Stephen Flaherty and David McCluskey.

Frequently acting for financial institutions, corporations and individuals, Clyde & Co LLP ’s banking litigation practice covers complex multi-jurisdictional cases. The team is particularly noted for disputes involving derivatives cases and interest rate swap issues; and the key advisers are Neil Jamieson, James Cooper, Andrew Foster and Helen Rowlands.

Collyer Bristow LLP is best known for conflict-free litigation against banks;and disputes regarding complex products and financial structures including derivatives, benchmark manipulation, assignment of bank debts, and distressed debt trading, along with syndicated lending, securitisation, and unregulated collective investment schemes. It acted for Secure Capital (SC), a Luxembourg investment vehicle, in Commercial Court proceedings against Credit Suisse, which had issued longevity notes; SC alleged that the notes were designed to fail. Stephen Rosen, Janine Alexander, Robin Henry and Richard Viegas are the recomended names.

The 'excellent boutique' litigation practice DaySparkes is a conflict-free law firm that acts for a range of companies, hedge funds and high-net-worth individuals and is 'able to take on interesting and complex financial disputes'. Examples of recent work include acting for class X note holders in their claims against the issuer, note trustee and cash manager of commercial mortgage-backed securities for the recovery of significant underpayments of class X interest. Michael Sparkes specialises in banking and finance litigation and complex fraud claims; and John Day has substantial experience of obtaining and defending injunctions and other forms of interim relief, including freezing orders, search and seizure orders, and anti-suit relief. Sparkes and Day are 'really switched on when it comes to financial disputes and offer an admirable pragmatic, no-nonsense approach to claims'.

Humphries Kerstetter LLP is a a niche City litigation, arbitration and investigations practice that is 'responsive, decisive, authoritative and normally wins'. It acted for several groups of UK high street retailers, online merchants and local government in high-profile claims against Visa and MasterCard for the alleged overcharging of multilateral interchange fees. Senior partner and 'outstanding litigator' Mark Humphries served as head of advocacy at Linklaters LLP for over fifteeen years; and managing partner Kristopher Kerstetter conducts internal investigations and provides advice for the purpose of compliance with international anti-corruption laws, including those of the US and the UK, as well as representing clients before associated regulators. Christopher Braithwaite, and James Russell are other names to note.

Kingsley Napley LLP regularly acts on behalf of both individuals and corporate entities making claims against banks, financial advisers and other investment bodies for negligence and breach of contract, with particular experience in investor and mis-selling claims, fraud-related disputes and misrepresentations. Richard Foss leads the disputes practice and is experienced in both obtaining and defending injunctive proceedings, including freezing and search orders. Gerard Cukier, Sue Thackeray, William Christopher and Ryan Mowat are all highly rated.

Typically representsing senior executives, financial institutions and funds, Morrison & Foerster LLP’s 'particularly good' London litigation team is best known for complex, cross-border disputes, financial crime and white-collar investigations (including a significant number of high-stakes FCA and SFO matters, as well as contentious insolvencies. The team played a lead role advising the Icelandic administrators of Landsbanki, including recent bankruptcy proceedings in the UK and action for recovery of assets in the UK, Belgium and Spain. London disputes head Jonathan Wheeler is 'a real details-man, who is very careful and bright'; Kevin Roberts, Paul Friedman and Gemma Anderson are also highly rated; and Shawna Pasquale and James Lloyd are key associates.

PCB Litigation LLP acts both for and against banks in substantial litigation, including high-profile work for Russian and CIS banks. The team acted for two of eight defendants, who had proceedings commenced against them by Commerzbank and two others seeking declaratory relief in connection with claims surrounding a structured investment instrument issued by Commerzbank, which involved fixed rate bonds, an unsecured loan note and a swaps agreement; the defendants’ counterclaim is based on claims for unlawful conspiracy, deceit, dishonest assistance, negligence and breach of fiduciary duty. Anthony Riem is 'very experienced'; Trevor Mascarenhas is' assured and extremely bright'; Steven Philippsohn is 'a lateral thinker extraordinaire, who can see brilliant points outside the box'; and Nick Ractliff and recently promoted partner Jon Felce are 'dedicated and thorough'.

Pinsent Masons LLP's 'outstanding team' is particularly known for handling major claims against banks, including mis-selling claims and claims concerning the conduct of restructuring and insolvency units in banks. The team acted for two Philippines’ state corporations in the electricity generation sector, which are in dispute with Lehman Brothers Special Financing over the valuation of the close-out amount on a Philippine Peso/USD currency swap; the case raises issues of general market importance, including whether the replacement transaction which the state corporations used to calculate their loss was a true economic equivalent of the defaulted transaction. Stuart McNeill is head of investment banking litigation; Edinburgh-based Jim Cormack is banking and finance litigation head; international civil fraud Alan Sheeley is 'extremely commercial and able to identify and pursue the business exigencies of clients'; Michael Fenn is 'always calm, authoritative and highly diligent'; and legal director Michael Hawthorne is 'a brilliant technical lawyer, with excellent depth of experience'.

Watson Farley & Williams LLP>’s banking litigation practice stems from the firm’s significant finance work, particularly regarding asset (including shipping and aviation) and trade finance. 'There is real quality and tremendous value at the firm, which fields first-rank lawyers with none of the ego'. Team head Andrew Savage , who is 'a completely class act and whose own attention to detail inspires the same from his team', has acted both for and against various national and international banks in complex disputes, including cases relating to the ISDA Master Agreement (MA)’s terms; he led advice to Lehman Brothers Finance (in liquidation) in one of the first cases to be transferred to the Financial List concerning calculation of loss under the ISDA MA. Other key advisers include maritime litigator Charles Buss, who 'always provides clear, concise advice, gets straight to the heart of the matter, is never phased by the other side and exudes confidence in managing clients through the dispute process', Andrew Ward and Andrew Hutcheon. Thomas Ross was hired from Ropes & Gray LLP.

'With the resources to handle large-scale litigation', Burges Salmon LLP's key practice areas include representing banks in disputes involving facilities, derivatives and hedging, securitisation, acquisition finance, investment management, and professional negligence. Other notable areas are insolvency advice and security recovery; the mis-selling of financial products and services; advising financial services providers that are the subject of enquiries, investigations or enforcement proceedings; and investigations and proceedings relating to fraud, money laundering, sanctions, bribery and corruption, including acting for regulators. Bristol-based unit head David Hall is 'very commercial and pragmatic in his approach', Andrew Burnette is 'very energetic and commercially minded', and Kari McCormick is also a key contact.

'One of the rising forces in London', Cadwalader, Wickersham & Taft LLP's financial services litigation and regulation London team was established in late 2016; it focuses on investment and financial services disputes for investment banks as well as hedge and sovereign wealth funds. The team acted for Goldman Sachs International in complex multi-party, multi-jurisdictional proceedings arising out of the transfer of assets and liabilities of Banco Espirito Santo in Portugal to a bridge bank, Novo Banco, including the legal effect of resolutions of the member state’s central bank on the transferability of a substantial loan. Steven Baker, formerly the head of Bird & Bird LLP's London dispute resolution group, is 'a first-rate litigator who is very well organised, calm under pressure, has excellent judgement and is a good choice for any large-scale litigation'. Jenna Rennie and Janaki Tampi are the associates to note.

DAC Beachcroft LLP is particularly noted for its sector experience in in insurance, health and real estate; and the practice has acted in a wide range of disputes including loan recoveries, enforcing securities, bond and complex derivatives litigation, fraud, asset-tracing, injunctive relief, bribery, corruption and money laundering, international sanctions and FCA regulatory investigations. John Bramhall has represented numerous clients in the long-running LIBOR, EURIBOR and Forex investigations in the UK, US and Europe; and Jonathan Brogden’s recent work focused primarily on banking-related litigation, FCA investigations, and enforcement and corporate crime. Matthew Wescott joined Carter-Ruck.

Fladgate LLP's disputes group includes pre-empting potential claims or defences; recovery litigation, including disputed security and enforcement; insolvency matters; fraud; and payment systems. Other areas of strength are mis-selling claims, including swaps; claims against professionals, including surveyors, accountants and solicitors; and disputes between banks. Representative experience includes acting for a financial services firm in the prosecution of its claim for commission against its former client, an international maritime group. Steven Mash¬†is a specialist in civil fraud matters and Bree Taylor¬†has acted for claimants in actions against major banks. Other names to note are Simon Ekins, Simon Brew¬†and Alexander Wildsch√ľtz.

Key areas of work for Foot Anstey’s nationwide practice, which 'provides an outstanding service in finance-related litigation', include complex agricultural receiverships; enforcing shari'ah-compliant finance agreements; disputes over business finance contracts; and the pursuit of professional negligence claims for banks against surveyors and lawyers. Areas of recent growth for the team include cyber fraud and electronic payments disputes. Highlights included successfully acting for a major Scottish bank in recovery of a high-value disputed shortfall commercial claim. Dispute resolution group head Steven Richards and Mark Rhys-Jones are the names to note.

Gowling WLG is 'a good-quality firm with a good breadth of service offering'. The practice acts in high-profile regulatory matters, including those relating to LIBOR and FX; has significant and longstanding relationships with a number of banks; and has been instructed on significant matters arising out of the credit crisis. Other areas of note are restructuring and fraud-related disputes. The team defended J P Morgan Ventures Energy Corporation against a claim commenced in the Commercial Court by a Swedish natural resources company, which concerned alleged breach of several commercial contracts for the supply of straight-run fuel oil; the matter gives rise to interesting questions of jurisdiction and service, as well as the international customs implications of trading in oil from Libya. James Sidwell is UK commercial litigation team head and Alex Jay is 'an approachable and sensible lawyer'.  Other notable advisers include Andrew Witts, director Catherine Naylor and principal associate Verity Barker.

Hausfeld is 'experienced and capable and creates a strong team with counsel and experts'. It has developed from being a specialist competition litigation firm, to a broader boutique commercial litigation practice that regularly litigates high-profile financial services disputes on behalf of claimants. The team recently advised on complex loan financing, derivatives transactions and wider banking misconduct, as well as claims arising out of LIBOR, FOREX and other benchmark manipulations in the financial markets. It acted for Stuart Wall, who alleged that RBS caused the failure of his student accommodation business, Opal Property Group; the allegations included RBS’ involvement in LIBOR rigging and the actions of its global restructuring group. Anthony Maton is managing partner of the London office; Lianne Craig is 'superb and able to project manage and implement strategy on the largest of claims'; John McElroy 'has demonstrated himself to be a key individual, who is able to effectively work with others in the team and is adroit at balancing detail with an overview of objectives'; and senior associate David Lawne 'shows notable skills and experience in the area of banking litigation and he is switched on and easy to deal with'.

K&L Gates LLP is best known for disputes involving real estate finance; banking-related professional negligence; structured finance, particularly corporate trustee and servicing related disputes; white-collar and regulatory-related investigations in the banking sector; and insurance coverage advisory work and related disputes in the banking sector. Anne McCarthy, John Magnin and Sarah Turpin are the key names and Clare Tanner  is a notable counsel.

Locke Lord LLP’s banking litigation team head Kevin Heath is well known for asset finance and consumer credit disputes, with related expertise in insolvency and e-money disputes; Heath is 'incredibly knowledgeable, prompt to respond, fantastic at assessing situations and providing options, and assisting with the best way forward'. Joanne Davis heads the firm's asset, leasing and consumer finance division in the UK, and assists clients with asset and motor finance asset recoveries and finance litigation.  Rachael Browning and Nicole Fry are notable associates.

Morgan, Lewis & Bockius UK LLP hired Chris Warren-Smith and Melanie Ryan from Norton Rose Fulbright in 2017. The London team’s banking litigation practice is experienced in advising banks and financial institutions in disputes, litigation and investigations arising out of complex financial instruments, lending and retail products. In addition, it advises banks and senior executives in relation to investigations and enforcement issues, including financial regulation, insider trading and market abuse, fraud and corruption, sanctions, and other financial crime issues involving UK, US and international regulators and prosecuting agencies. Other recommended advisers include Peter Sharp.

Paul Hastings LLP hired corporate crime and investigations partner Simon Airey from DLA Piper, while Michelle Duncan  left the firm to join transatlantic disputes boutique Joseph Hage Aaronson LLP. The team is noted for disputes relating to securitisations and other structured investment vehicles. It acted for Cabot Financial Debt Recovery Services, the purchaser of Hillesden Securities (a debt recovery business) in numerous claims against the vendor for breaches of warranty and failure to pay the transaction documents' indemnities, which arose out of the manner in which the business was conducted pre-acquisition. Other key contacts are senior associate Ian McKim and associates Jack Thorne, who is 'unbelievably hardworking and a pleasure to work with', and Tom Nevin.

Penningtons Manches LLP is experienced both in acting for and against banks, including advising business clients that have suffered loss, individuals who have been mis-sold products, and former employees; and the team has particular expertise in high-profile swaps litigation. Alex Fox is business and finance disputes head, and Rustam Dubash and David Niven are also highly regarded. Dan Hyde joined from Howard Kennedy LLP; Hyde has an established white-collar practice that encompasses commercial fraud, business crime and contentious financial regulation.

Shearman & Sterling LLP’s London team is highly rated for its advice to financial institution clients on a wide range of banking and finance disputes, both at domestic and international level. The firm also fields lawyers who are experienced in regulatory matters and investigations. Jo Rickard and Susanna Charlwood are the names to note.

Shoosmiths LLP’s London-based banking litigation team is 'very quick to reply to questions, looks for a win-win scenario and sticks to the facts'. It acts for major banks and finance providers in relation to retail, corporate and wholesale banking disputes that involve reputational and regulatory issues. David Pacey heads the finance disputes and contentious regulatory practice; and well known in the marine sector, Elliot Bishop has acted in multi-jurisdictional litigation on behalf of major banks and insurers in respect of policy coverage issues and international enforcement of loan security against pleasure boats and superyachts.

Teacher Stern LLP's banking litigation practice is headed by Philip Rubens, who is well known for large-scale actions against banks concerning the mis-selling of financial products. The department also undertakes actions involving commodity litigation, fraud claims, insolvency litigation and professional negligence actions. Recent matters include advising HMG Investment Holdings, as claimant against NatWest Bank, in claims for the mis-selling of an interest rate hedging product and substantial consequential losses. Senior associate David Bowman is also recommended.

TLT 'has a major banking and financial services litigation practice'. The City-based financial services disputes and investigations team is led by Andrew Lyon; the team’s main focus is on retail, commercial and wholesale banking litigation and investigations. Paul Gair led advice to a consortium of 13 Indian banks in relation to the registration of a high-value Indian judgment in England & Wales against Dr Vijay Mall`ya, who owns the Force India F1 team. Other recommended advisers are Russell Kelsall, who has a particular focus on consumer credit, regulated mortgages, payment services and savings; Peter Richards-Gaskin, who heads the London professional negligence team; and Michael Isaacs, who joined in 2018 and was previously the national banking litigation at Pinsent Masons. Former investigations and enforcement head Jake McQuitty left for Eversheds Sutherland (International) LLP and former financial services regulatory head Emily Benson joined Keystone Law.

Routinely retained on complex domestic and multi-jurisdictional banking and financial services disputes, Wallace LLP 's 'excellent practice' is conflict free and able to litigate against the banks and financial institutions. The practice has particular expertise in disputes involving breach of duty, contractual interpretation, breach of transactional documentation, contentious restructurings and allegations of mis-selling, misconduct, misrepresentation, deceit and fraud. Alexander Weinberg is noted for complex, high-value disputes involving financial institutions and hedge funds, including those under the ISDA Master Agreement; the 'very hardworking and responsive' Weinberg is 'particularly good, has a clear incisive mind and knows his subject'.  Other recommended names are Oli Goldman , who is 'very bright, very client focused and has considerable litigation experience', and Craig Thompson.

Relatively conflict-free firm Withers LLP is 'well known for large-scale claims against banks and financial institutions', with financial mis-selling disputes of specific interest to the firm’s wider high-net-worth private client base. Recent matters for the 'powerful team' include defending the Provincia di Brescia (an Italian local authority) against proceedings, which involve a claim by Dexia Crediop for declaratory relief in relation to interest rate swap transactions. Team head Andrew Wass is 'calm, unflappable and able to distinguish the wood from the trees in massive litigation'; Peter Wood is 'a true leader and an excellent lawyer and deal-maker'; Christopher Coffin advises on derivatives disputes, loan recoveries, asset tracing and fraud and has a particular specialism in advising clients from Russia, Ukraine and the CIS; Harvey Knight is well known for his contentious financial service expertise. Eleni Polycarpou is also widely respected.

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