United States > Finance > Financial services: regulatory > Law firm and leading lawyer rankings
Index of tables
Financial services: regulatory
- Covington & Burling LLP
Simpson Thacher & Bartlett LLP
Skadden, Arps, Slate, Meagher & Flom LLP
- Rodgin Cohen - Sullivan & Cromwell LLP
- Robert Cook - Cleary Gottlieb Steen & Hamilton LLP
John Douglas -
Davis Polk & Wardwell LLP
- John Dugan - Covington & Burling LLP
- Henry Fields - Morrison & Foerster LLP
Randall Guynn -
Davis Polk & Wardwell LLP
- Paul Lee - Debevoise & Plimpton LLP
- Steven Lofchie - Cadwalader, Wickersham & Taft LLP
Lee Meyerson -
Simpson Thacher & Bartlett LLP
Annette Nazareth -
Davis Polk & Wardwell LLP
William Sweet -
Skadden, Arps, Slate, Meagher & Flom LLP
- Robert Tortoriello - Cleary Gottlieb Steen & Hamilton LLP
Led by the ‘experienced and knowledgeable’ Robert Tortoriello, the team at Cleary Gottlieb Steen & Hamilton LLP provides ‘top-notch business understanding’ to banks, trade bodies and broker-dealers across the panoply of issues affecting their operations. Clients benefit from the expertise of lawyers who are ‘able to see the big picture’ and who ‘not only consider the immediate concern but also look to ensure the path of their advice will withstand time and variation’. Frequently working with the firm’s global network of offices, the team is ‘particularly strong on the regulation of foreign banking organizations’ and is able to provide cohesive strategic advice to global entities which is mindful of EU regulations as well as the extra-territorial effect of Dodd-Frank. Alongside Michael Krimminger and the ‘knowledgeable and pragmatic’ Derek Bush, Tortoriello has been advising domestic and foreign financial institutions, including Natixis and Barclays, on the implications of the Federal Reserve Board’s enhanced prudential standards and the implementation of enhanced Basel capital requirements. Formerly of the FDIC, Krimminger ‘knows what the regulator is looking for and can translate this into practical advice’. As part of his broad expertise, which also includes acting for numerous domestic and international banks on resolution planning issues, Krimminger has been at the forefront of the firm’s work for itBit Trust Company enabling it to become the first US-chartered and regulated virtual currency exchange. The team has also been involved in strategic resolution planning issues and has had a key role for two ad-hoc groups of the largest US banks in developing a set of interpretive positions representing industry consensus on Volcker rule issues impacting securitizations and other structured finance vehicles. The firm is also highly regarded for advising on regulations impacting the broker-dealer space, where Giovanni Prezioso, Robert Cook and David Aman are the key contacts. In April 2016, Katherine Mooney Carroll left private practice and began a role as counselor to US Secretary of Defense Ash Carter.
At the forefront of developments in the financial services industry, Davis Polk & Wardwell LLP is viewed as a thought leader across the spectrum of regulatory changes ushered in by Dodd-Frank. As well as highly strategic advice to leading domestic, foreign and regional banks including Citigroup, Goldman Sachs, CIT Group and BNP Paribas, the firm’s excellent subject knowledge also manifests itself in the form of numerous widely read summaries, analyses and progress reports about the Act, including the recently created Davis Polk Regulatory Gateway, which collects, in one location, its informational and subscription-based products and resources. The firm continues to be one of the leaders for resolution planning and is representing 25 of the most systemically important US bank holding companies on their living will requirements. The group also represents seven of the eight US global systemically important banking groups (G-SIBs) and several foreign G-SIBs on the Federal Reserve’s proposed new TLAC/LTD requirement, and is actively involved in drafting the industry’s comment letter (TCH/SIFMA) on that proposed new rule. Able to coalesce M&A, regulatory and restructuring capability, the firm has also been active advising domestic and foreign banks on strategic and structural M&A issues as they seek to come to terms with transformative regulatory rules including the Volcker rule and Basel III. Randall Guynn and Luigi De Ghenghi have been providing the regulatory input for General Electric as it continues to make numerous major asset sales in an effort to justify the Federal Reserve Board’s rescission of its designation as a systematically important non-bank financial company (SIFI). Margaret Tahyar and John Douglas are also recommended for bank regulatory matters, while ‘wonderful broker-dealer lawyer’ Annette Nazareth heads the firm’s trading and market practice, which also includes the ‘excellent’ Lanny Schwartz.
The ‘outstanding’ team at Sullivan & Cromwell LLP provides the ‘highest level of business acumen and industry knowledge related to financial service regulatory matters’, and has ‘excellent relationships with the regulators’. The ‘indefatigable’ Rodgin Cohen has ‘unmatched bank regulatory experience’ and continues to be involved in many of the most significant mandates in the industry including acting for General Electric on the sale of most GE Capital assets. Cohen also advised CIT Group on its $3.4bn acquisition of OneWest and IMB Holdco; notably, this was the first transaction since Dodd-Frank in which two bank holding companies combined to form a new SIFI. ‘Knowledgeable’ financial services M&A expert Mitchell Eitel ‘understands the issues from a client’s perspective’, and as well as being involved in the aforementioned deal, he also recently advised Bankia of Spain on the $883m sale of its US bank affiliate to BCI of Chile. The group also handles a raft of standalone advisory work across the spectrum of issues affecting financial services entities including Volcker rule and resolution planning matters. Co-head of the alternative investment management group, Whitney Chatterjee has been particularly active advising clients in the asset management space on Volcker rule issues, both from a standalone advisory perspective as well as from a strategic transactional viewpoint. Other recommended partners include Elizabeth Davy, who is a market leader in anti-money laundering (AML) and OFAC sanctions compliance matters; Camille Orme, who specializes in the interplay of US and non-US regulatory changes; the ‘excellent’ Michael Wiseman, whose broad-ranging practice encompasses M&A, compliance and enforcement; and Donald Toumey, who provides ‘outstanding business and commercial advice’ across a range of matters including bank M&A.
The ‘responsive and knowledgeable’ team at Debevoise & Plimpton LLP provides ‘high-calibre advice’ to domestic and foreign banks, non-bank consumer services entities and insurance companies on compliance issues as well as regulatory-driven financial services M&A. Gregory Lyons and ‘lawyers’ lawyer’ Satish Kini have ‘excellent knowledge’ of the regulatory changes affecting the industry and continue to advise a plethora of domestic and international financial services entities, including Royal Bank of Canada, Silicon Valley Bank and Société Générale, on Volcker rule compliance issues. They have also been representing a number of trade associations including the Securities Industry and Financial Markets Association (SIFMA) and the Private Equity Growth Capital Council (PEGCC) in their dealings with the Federal Reserve and other regulators to obtain regulatory relief and guidance on various Volcker rule issues. Benefiting from integrated banking, private equity and corporate groups, the team is also regularly involved in strategic financial services M&A, as entities dispose of non-core assets and elements of the business which may attract heightened regulatory scrutiny. Alongside Eric Dinallo, Lyons advised Canada Pension Plan Investment Board (CPPIB) on its acquisition of the leveraged buyout financing business of GECC, a US SIFI. Notably, the deal was structured in such a way that CPPIB did not itself become designated as a non-bank SIFI and therefore subject to the onerous regulatory burdens attached to such a designation. Other recommended practitioners include Nicholas Potter, who is well regarded for insurance M&A; of counsel Paul Lee, who has an outstanding reputation across a range of regulatory issues, including Dodd-Frank and the Basel initiatives; and ‘the thoughtful’ David Luigs, who heads the firm’s consumer finance practice out of Washington DC.
The ‘accessible and client-friendly’ Washington DC-based team at Covington & Burling LLP is ‘well connected with the regulators’ and is therefore well positioned to provide ‘superior judgment in dealing with complex regulatory issues’. ‘Well-respected’ team head John Dugan has the ability to provide ‘a real insider’s view’ as a result of his former role as comptroller of the currency during the financial crisis and is ‘super smart on capital stuff’. He recently advised the Futures Industry Association on the Basel Committee treatment of segregated margin for client-cleared trades under the leverage ratio. The ‘smart and savvy’ Keith Noreika ‘knows the culture of the banking and business climates outside the US’ and is making a name for himself in the market as a result of his advice to domestic and international banks. Noreika is representing Tricadia Capital Partners before the federal bank regulatory agencies in establishing a fund of non-controlling investments in US banking organizations. He is also regularly involved in mandates alongside the ‘excellent’ Stuart Stock, and both continue to represent General Electric Capital Corporation before the Federal Reserve Board in seeking deregistration as a savings and loan holding company in connection with the restructuring of its US financial services businesses. Other recommended partners include the ‘business savvy’ Jean Veta, who excels at enforcement matters; the ‘smart and experienced’ Mark Plotkin, for matters sitting at the intersection of banking compliance and data security law; Bruce Bennett, who has ‘excellent insights into politics that might surround an issue’ particularly if it relates to derivatives and futures regulations; and Ed Yingling, as a lobbyist for financial services entities.
Leveraging its impressive private equity and banking ties in particular, Simpson Thacher & Bartlett LLP is recommended for handling financial services M&A and capital raisings. The firm’s longstanding track record for high-calibre work in the sector is predicated on a very fluid and integrated offering which is sympathetic to the key regulatory changes impacting the industry. Earning particular plaudits for his work at the height of the financial crisis in 2008, ‘experienced and skilled’ team head Lee Meyerson remains at the forefront of the market as a result of his ability to provide ‘sensitive and nuanced’ advice to financial services entities that is attuned to the rapidly changing financial services regulatory framework. Meyerson’s recent highlights include advising Blackstone and Corsair on the $4bn acquisition of a majority stake in First Eagle Investment Management, and acting alongside Elizabeth Cooper for KeyCorp during its $4.1bn acquisition of First Niagara (subject to regulatory and stockholder approvals). On the capital markets front, Meyerson and Lesley Peng advised JPMorgan and Morgan Stanley as initial purchasers on TCF National Bank’s $150m subordinated bank notes offering. Maripat Alpuche is also regularly engaged in M&A and capital markets work for financial services clients, and has developed a niche practice representing retail and financial institution clients on credit card business sale and program transactions.
Concentrated in its New York and Washington DC offices and aided by a significant international network of offices, Skadden, Arps, Slate, Meagher & Flom LLP is well placed to provide purely domestic regulatory advice, as well as advice framed in a global context. ‘Seasoned practitioner’ William Sweet has vast experience acting for domestic and international financial services entities, and has been advising clients on strategic transactional and compliance responses to Dodd-Frank. The firm also has a significant level of consumer finance expertise, which is led out of Washington DC by Joseph Barloon and Anand Raman. Barloon acted for International Bancshares Corporation across a range of consumer finance matters including advising it on fair lending issues. The ‘very good’ Brian Christiansen and William Rubenstein are also recommended.
Predominantly centered out of its Washington DC headquarters, Arnold & Porter Kaye Scholer LLP has a ‘longstanding tradition in the area’ and handles a range of standalone advisory, legislative and enforcement matters, as well as regulatory-focused transactional work. One of a number of former agency alumni, ‘superstar’ Patrick Doyle has broad regulatory expertise and continues to represent State Farm Mutual Insurance Company on capital adequacy requirements. Both Doyle and New York-based Kevin Barnard have also been advising major diversified financial services firm TIAA-CREF on the expansion of its banking operations. ‘Fantastic’ team head David Freeman is advising Federated Investors on legislation and congressional strategy in response to an overall review of money funds by federal financial regulators. Freeman also continues to provide ongoing Dodd-Frank compliance advice to First Republic as well as advising on its $115m acquisition of Constellation Wealth Advisors. The ‘superb’ Michael Mierzewski has an excellent reputation for consumer finance regulatory issues and alongside enforcement expert Brian McCormally successfully concluded a fair lending investigation for a major depositary institution. Other recommended partners include Richard Alexander, Robert Azarow and Michael Mancusi.
Centered out of New York and aided by practitioners throughout its national and international spread of offices, Latham & Watkins LLP’s team provides a ‘strong service’ across a broad mix of bank, broker-dealer and derivatives regulatory issues. Alan Avery is ‘one of the top financial services regulatory lawyers in the industry’ and has been active on discrete advisory matters, for example, for numerous private equity firms on Volcker rule issues, as well as in relation to the regulatory issues surrounding transactions such as his recent work for National Bank of Canada on its investment in Fiera Capital. The ‘fantastic’ Dana Fleischman has an ‘excellent sense of market practice’ and leads the firm’s broker-dealer group alongside Stephen Wink. Wink recently advised Riverstone, and its broker-dealer subsidiary, on the establishment of third party marketing services in the US and the EU and a debt trading desk. Other recommended partners include the ‘excellent’ Courtenay Myers Lima, who has broad-ranging bank regulatory knowledge; Yvette Valdez, who heads the firm’s derivatives regulatory practice; and Vivian Maese, who is well versed in fin-tech regulatory issues.
Spread across its East and West coast offices, Morrison & Foerster LLP’s team provides ‘very clear guidance’ to domestic and foreign financial services entities seeking advisory, enforcement and transactional expertise. ‘A dominant force’ in the consumer finance space for a number of years, the firm provides ‘strategic and pragmatic advice’ to clients across the most pressing issues in the sector, including on the rapidly evolving laws relating to credit cards and mobile payments. The ‘excellent’ Richard Fischer has a longstanding reputation in the retail space and has advised a raft of major credit card issuers on regulatory changes over the years, as well as providing expertise on privacy issues. Obrea Poindexter also has an excellent reputation for consumer finance work; she heads the firm’s nascent mobile payments practice as well as jointly leading the overall financial services regulatory team. Donald Lampe’s expertise spans mortgage and fair lending, and representing banks and non-banks in matters involving the Consumer Finance Protection Bureau (CFPB). Formerly at the CFPB, of counsel Leonard Chanin is also a valuable resource to clients in their dealings with the agency. Outside the consumer finance space, Los Angeles-based partner Henry Fields is regularly engaged in financial services M&A activity. The ‘very knowledgeable’ Barbara Mendelson regularly advises foreign banks on the regulatory aspects associated with their US operations, and along with Marc-Alain Galeazzi, recently advised a Japanese G-SIB on the impact of various aspects of Dodd-Frank on its US footprint.
Based out of its New York office and also aided by a ‘strong global presence’, Shearman & Sterling LLP is ‘increasingly visible in the market’ and is a popular choice for clients engaged in bank regulatory matters with a distinct international complexion. Led by the ‘excellent’ Reena Agrawal Sahni, the firm has represented numerous international banks on global reviews of their operations and policies to ensure Volcker rule compliance. Sahni has also been active advising domestic and international banks on resolution planning issues and in helping them come to terms with the Federal Reserve’s enhanced prudential standards. The team has also played a key role in numerous M&A transactions in the sector and provides the regulatory overlay to several deals handled by Mizuho Bank, including advising on its acquisition of a non-controlling ownership interest in Matthews International Capital Management. An alumnus of the Federal Reserve Bank of New York, ‘very knowledgeable’ of counsel Bradley Sabel is ‘experienced and user friendly’, particularly on matters relating to Federal Reserve regulations. The firm also has significant capability handling regulatory assignments in the broker-dealer space, where the ‘practical and personable’ Russell Sacks and of counsel Charles Gittleman are ‘extremely well informed’ on SEC and FINRA issues.
Sidley Austin LLP provides a ‘business-oriented service’ to clients across the spectrum of mandates, from banking and consumer financial services regulation and the regulation of payment systems to capital and other structural issues faced by financial institutions. Connie Friesen and the ‘very practical’ William Eckland provide an ‘excellent service’ across a range of bank regulatory compliance issues including those relating to the Volcker rule and other core Dodd-Frank provisions. Friesen is noted for her expertise advising foreign banks on the impact of Dodd-Frank on their US operations; she has been advising Portuguese bank Banco Espirito Santo de Investmento (BESI) and a Chinese securities firm, Haitong Securities, on their submissions to the Federal Reserve Board to successfully effect Haitong’s acquisition of BESI without unduly onerous restrictions applying under the Bank Holding Act. In the consumer finance space, the firm is well known for its payments practice, which is led by the ‘superb’ David Teitelbaum. Teitelbaum has been acting for the National Automated Clearinghouse Association in its efforts to develop a same-day ACH product. James Huizinga is also recommended for consumer finance mandates and, alongside the ‘very smart’ Joel Feinberg, is advising MasterCard on regulatory and public policy matters affecting electronic payment networks and electronic payments. The team is rounded out by a ‘very strong’ broker-dealer regulatory practice which includes numerous ex-SEC and FINRA alumni, including the ‘superb’ James Brigagliano, whose previous role as deputy director of the SEC’s Division of Trading & Markets affords him great regulatory insight. Kevin Campion is also recommended and, as well as regular advisory work for investment banks including Morgan Stanley and JPMorgan on trading issues, is also often engaged by SIFMA to assist it in drafting comment letters to the SEC in response to proposed or new regulation.
Recognized for its ‘excellent securities regulatory expertise’, Cadwalader, Wickersham & Taft LLP has a superb perspective of the broker-dealer market as a result of its work on both the buy and sell side. Steven Lofchie heads the firm’s broker-dealer practice and has ‘comprehensive knowledge across products and regulatory regimes’. Along with the ‘very capable’ Jeffrey Robins, Lofchie is advising Société Générale, Scotia Bank and Wells Fargo on the establishment of prime brokerage businesses. Robins also continues to represent ISDA on industry strategies to produce and implement documentation necessitated by Dodd-Frank. Although the firm is less visible on the bank regulatory side it does, nevertheless, handle some complex and strategically important work for domestic and foreign banks as they continue to grapple with various key provisions of Dodd-Frank. The ‘experienced and knowledgeable’ Scott Cammarn is the firm’s principle bank regulatory expert and ‘applies excellent commercial judgment’ to numerous major domestic and international banks on key provisions of Dodd-Frank including the Volcker rule.
A mainstay of the Washington DC market, Hogan Lovells US LLP provides ‘top industry knowledge’, ‘business-oriented advice’ and a number of lawyers who are former high-ranking regulators. Although it lacks presence in many of the largest bank regulatory matters, it does handle a significant amount of work for regional and community level banks on standalone regulatory issues as well as regulatory-driven transactional work. The firm has been fairly active on the M&A side as many of these smaller institutions seek to attain economies of scale to better deal with the heightened regulatory hurdles placed before them. Richard Schaberg advised First Mutual Bancorp on its acquisition of Belpre Savings Bank, and assisted Radius Bancorp with its $65m sale to a consortium of private equity sponsors. The firm is also developing a significant reputation for handling fin-tech work, which regularly brings up complex regulatory issues. For example, Schaberg and the ‘very knowledgeable’ Greg Parisi advised Regions Financial and Regions Bank on its partnership with Fundation Group, a fintech, online small business lender. ‘Excellent all-rounder’ Stuart Stein is a key member of the team and is advising Webster Financial Corporation on various Bank Holding Company Act and National Bank Act compliance issues, including compliance with the Volcker rule.
Headed out of Washington DC by the ‘impressive’ Thomas Delaney, Mayer Brown’s seven-partner team provides ‘concise and timely advice’ to banks, broker-dealers and asset management companies across the spectrum of regulatory issues impacting their businesses. Able to tap into the resources of a large international network of offices, the firm is particularly attuned to assisting international banks on issues relating to the extraterritorial reach of Dodd-Frank, as well as on their business in the US. Splitting his time between London and Washington DC, David Sahr is regularly called upon to advise foreign banks on the regulatory impact of expanding their operations to the US and is also seen as a ‘solid choice’ for advice across the gamut of Dodd-Frank provisions. Jeffrey Taft’s broad regulatory expertise sees him advising on discrete regulatory issues, as well as providing regulatory input on financial services M&A; in this context, he acted (alongside the corporate group) for Wells Fargo during its acquisition of GE Capital’s Commercial Distribution Finance and Vendor Finance platforms, as well as a portion of its Corporate Finance business. The ‘responsive’ Scott Anenberg, provides ‘very practical advice’ to clients engaged in AML matters, as well as assisting with other regulatory concerns. Jerome Roche is well regarded for his broker-dealer regulatory expertise.
With a ‘strong bench’ of lawyers, both in the US and abroad, Paul Hastings LLP is well placed to represent domestic and international financial services clients as they seek to come to terms with a regulatory market that is increasingly converging along international lines. Gerard Comizio has ‘significant experience in the market’ and provides ‘solid advice’ to a range of financial services entities on discrete regulatory issues and M&A-related matters. Comizio recently advised JPMorgan Chase on the application of federal and state consumer financial compliance laws on its existing mortgage warehouse financing operation. Led out of Atlanta by the ‘exceptional’ Chris Daniel, the firm’s ‘very strong’ payments practice is a leader in the market and is ‘well versed in payments regulation at the state, federal, and international level’. Alongside the ‘very knowledgeable’ Todd Beauchamp, Daniel continues to represent Visa and Facebook across an array of payments issues and is also acting for leading bitcoin exchange Coinbase on a variety of regulatory issues associated with virtual currencies. San Francisco-based Thomas Brown is also well regarded as a result of his cutting-edge work for leading players in the market including PayPal. Behnam Dayanim is recommended for his expertise advising clients on matters sitting at the intersection of gaming, privacy and financial services regulatory.
Providing ‘very knowledgeable lawyers and a value-for-money service’, Ballard Spahr LLP handles the panoply of regulatory issues facing entities engaged in the consumer finance field. Based out of Philadelphia but also with significant resources in New York, Washington DC and Atlanta, among other offices, the 100-strong team has the critical mass to handle a vast range and volume of mandates; for example, those involving advice on the regulatory implications of a new product range, drafting of consumer agreements and comprehensive compliance advice across federal and state regulatory lines. ‘Diligent and business savvy’ practice co-head Jeremy Rosenblum regularly handles consumer finance compliance matters and is a particular expert on the interplay between federal and state laws. Alan Kaplinsky, who jointly leads the team, has become recognized as a leader in the development of arbitration clauses in consumer financial services contracts. Along with the ‘very analytical’ Mark Levin, Kaplinsky assisted the American Bankers Association, Consumer Bankers Association and Financial Services Roundtable with the formulation of a comprehensive comment letter to the CFPB about the agency’s Arbitration Study. The firm is recognized as a thought-leader in the field, and its CFPB Monitor blog has gained much market recognition both from regulated entities and the regulator itself. The arrival of former CFPB attorney James Kim in November 2015 from Arnold & Porter LLP affords the team even greater firepower before the agency. Washington DC-based partners Richard Andreano and John Socknat head the firm’s mortgage banking group and act for the Mortgage Bankers Association, as well as numerous originator and servicer clients, across the spectrum of advisory, transactional and litigation work impacting the mortgage sector.
‘The gold standard for consumer finance regulatory work’, Buckley Sandler LLP’s ‘strong and deep team’ provides ‘clear and concise advice’ to clients engaged in CFPB examinations, investigations and enforcement actions, in addition to handling discrete advisory work and regulatory mandates pursuant to transactional work. Led by John Kromer, the 23-partner Washington DC-based team is well equipped to assist a range of clients including banks, mortgage servicers and originators, credit card issuers, and non-bank financial services companies as they navigate the treacherous terrain of the financial services landscape, particularly in light of the CFPB’s aggressive stance against non-compliance. The ‘superb’ Andrew Sandler’s ‘long experience in the area’ ensures that he is regularly retained by clients to advise on their most critical mandates, both from an enforcement perspective, in addition to discrete compliance and advisory work. A founding partner alongside Sandler, Jeremiah Buckley has tremendous gravitas in the industry and is a key member of a team that also includes Jeffrey Naimon, whose expertise covers the panoply of federal and state banking and consumer finance statutes, and Walter Zalenski, who handles M&A activity in the sector as well as discrete compliance and enforcement expertise.
Led out of Washington DC by ‘learned statesman’ Thomas Vartanian, Dechert LLP’s ‘thorough and client-friendly’ four-partner team provides compliance, enforcement and M&A expertise to domestic and international banks, insurance companies and industry associations. Leveraging the firm’s excellent ties with the asset management community, the team is active advising private equity and hedge funds as they come to terms with the various restrictions placed upon them by the Volcker rule. As well as standalone compliance and advisory work, Vartanian also provides the regulatory overlay to transactions in the industry including in relation to Wells Fargo’s $9bn acquisition of commercial real estate loans from GE Capital Real Estate. The ‘insightful’ David Ansell recently advised Certares and an investor group on a joint venture with American Express to engage in the global corporate travel business.
Led out of New York by the ‘knowledgeable, pragmatic and responsive’ Joseph Vitale, Schulte Roth & Zabel International LLP is particularly strong at regulatory work which sits at the intersection of the private equity and banking industries. Praised for his ‘deep bank regulatory knowledge’ and ‘ability to explain complex matters in plain English’, Vitale has been retained by asset management companies and banks to restructure their businesses in order to comply with the Volcker rule. Vitale has also been acting for numerous private equity firms seeking to invest in financial institutions including advising Cerberus Capital Management on its acquisition of Capital Home Loans, and The Endicott Group as a lead investor in the private placement recapitalizations of Park Cities Financial Group and US Century Bank. Donald Mosher is ‘at the forefront of the burgeoning payments space’, and former government lawyer Betty Santangelo is a recognized expert in AML issues.
Venable LLP has ‘considerable strength in depth’ and houses a number of former regulators in its Washington DC headquarters, who have excellent insight into the regulatory framework impacting banks, thrifts and insurance companies. Counsel Ralph Sharpe has vast experience gleaned from private practice and also from his long tenure at the OCC, and as a result, is well attuned to the regulatory compliance issues affecting a broad spectrum of financial services clients. ‘Very well-respected’ chair of the financial services group Ronald Glancz has ‘excellent knowledge’ of the regulatory landscape from a compliance, enforcement/litigation and transactional viewpoint. Andrew Olmem is noted for his ‘wealth of Dodd-Frank knowledge’, much of which was gleaned through his previous role at the Senate Banking Committee, where he was involved in the deliberations over the formulation of Dodd-Frank.
The team at Allen & Overy LLP is headed out of Washington DC by Heath Tarbert on the bank regulatory side and Barbara Stettner for broker-dealer matters. The practice excels at providing a ‘global perspective’ to US clients as a result of the firm’s extensive global financial services regulatory experience in key jurisdictions including London, Frankfurt and Hong Kong, in addition to guiding non-US clients through the intricacies of the domestic financial regulatory system. Tarbert is active advising numerous major international and domestic institutions on Basel III-related issues, as well as on Volcker rule matters, including his recent work for a global banking organization with regard to the treatment of various investments outside the US. Along with the ‘top-notch’ Chris Salter, Stettner has been advising numerous broker-dealers on the development and improvement of compliance policies to ensure adherence with federal and state securities laws, as well as self-regulatory organization rules.
Leveraging long-established ties with many Texas-based financial institutions, Bracewell LLP has benefited from the increasing wave of M&A between community banks and is seen in the market as ‘a leader on the smaller-scale bank deals’. The ‘very personable and skilled’ Justin Long has led on many of these deals including his recent work for Vision Bank-Texas on its acquisition by Texas Bank and Trust Company. New York-based Julian Rainero leads the firm’s broker-dealer practice and has been advising High Frequency Trading firms on several regulatory enquiries. Also based in New York, the ‘highly intellectual’ Craig Warkol has ‘sound legal and business knowledge’ and is particularly accomplished at handling SEC enforcement and regulatory matters. Sanford Brown joined Alston & Bird LLP in January 2016.
Led out of New York by the ‘efficient and responsive’ Nick O’Neill, and aided by a vast international network of offices, Clifford Chance excels at providing comparative advice to international clients in the industry, which is cognisant of both the domestic and the international regulatory issues affecting their businesses. The team has a particular strength in the funds space and is advising numerous domestic fund managers, including Fortress and WP Carey, on the AIFMD implications of their activity in the EU. Other work includes advising the US teams at global banks including UBS and Mizuho on a survey of US regulatory licensing requirements relating to the restrictions of doing business in other parts of the world.
Linklaters LLP’s ‘very knowledgeable’ four-strong New York-based team ‘is excellent at coordinating the advice received from other jurisdictions’ and is thereby able to provide a ‘responsive and helpful’ service to US clients on their offshore activities, as well as to foreign institutions on the impact of US regulations. Team head Robin Maxwell is praised for her ‘great ability to explain complex bank regulatory topics in a client-friendly manner’ and continues to advise Bank of America Merrill Lynch on numerous regulatory issues related to its European fund and Asian structured products platforms. Other clients include UniCredit, BlackRock and Citigroup.
Although it is less active than many in the ranking for high-level pure bank regulatory work, Sutherland Asbill & Brennan LLP has expertise in mid-market bank mandates, in addition to insurance expertise, as well as other more esoteric areas including regulatory issues affecting business development companies. The ‘excellent’ Stephen Roth has vast experience in the insurance industry and is recognized as a ‘pre-eminent practitioner advising insurance companies that have securities-related legal issues arising out of their insurance products’. Roth is representing a coalition of 29 major US life insurance companies in their efforts to affect the direction and details of various relevant federal and state regulatory proposals and initiatives. Cynthia Shoss has been involved in several insurance sector mergers including acting as regulatory counsel to Pan-American Life Insurance Group on its $5.5bn combination with Mutual Trust Financial Group. Susan Krawczyk and Clifford Kirsch are recommended for broker-dealer matters, and Steven Boehm is a leading authority on business development company matters.
Based out of Chicago but aided by a significant national presence that includes offices in New York, San Francisco and Washington DC, Winston & Strawn LLP provides regulatory advice to banks, thrifts and investment funds, across a range of regulatory matters. Head of the firm’s bank regulatory practice Christine Edwards advises numerous individual clients on various issues, as well as acting for a Washington DC-based coalition, Financial Services Roundtable, on matters relating to SEC rules, executive compensation changes, the CFPB and international capital standards. Of counsel Jerry Loeser is also recommended for bank regulatory matters, and New York-based Glen Barrentine leads on the broker-dealer side. In March 2015, Jay Gould and Michael Wu joined from Pillsbury Winthrop Shaw Pittman LLP, adding weight to the firm’s investment management regulatory expertise, in particular.