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Schulte Roth & Zabel LLP

Work +1 212 756 2000
Fax +1 212 593 5955
London, New York, Washington DC

Paul Watterson

Work +1 212.756.2563
Schulte Roth & Zabel LLP

Work Department

Structured Finance & Derivatives, Financial Institutions, Securities & Capital Markets, Trading Agreements


Paul N. Watterson, Jr. concentrates on structured product and derivative transactions, the formation and representation of credit funds, and capital markets regulation. Paul is counsel to many participants in the securitization, credit and derivatives markets. He represents underwriters, issuers and managers in structured financings, including collateralized loan obligations (CLOs). He is involved in many structured finance transactions that use credit derivatives, including regulatory capital transactions and repackagings. Schulte is widely acknowledged as having the nation’s premier investment management practice, and Paul advises many private investment funds on their transactions in derivatives and asset-backed securities, portfolio purchases and sales, and formation of risk retention vehicles. He has also been active in the creation of derivative products that reference hedge funds.

Paul is listed in The Best Lawyers in AmericaChambers Global, Chambers USAExpert Guide to the Best of the Best USAExpert Guide to the World’s Leading Banking, Finance and Transactional Law Lawyers, The Legal 500 US (Hall of Fame), New York Super Lawyers and PLC Which Lawyer? Multi-jurisdictional Guide: Capital Markets: Derivatives. After earning his A.B., cum laude, from Princeton University, Paul was an officer at the Chase Manhattan Bank in New York and London. He received his J.D., magna cum laude, from Harvard Law School where he was an editor of the Harvard Law Review. Paul served as a law clerk to the Honorable Leonard I. Garth, U.S. Court of Appeals for the Third Circuit, and then as Assistant to the Mayor of the City of New York.


New York City Bar Association.


Harvard Law School, JD, magna cum laude (Editor, Harvard Law Review); Princeton University, AB, cum laude.

United States: Finance

Structured finance: securitization

Within: Structured finance: securitization

Schulte Roth & Zabel LLP acts for a host of prolific asset managers in addition to a number of prominent arrangers in CLOs, secured financings and linked-note transactions. The structured finance and derivatives practice is jointly headed by Paul Watterson, Craig Stein and Boris Ziser, who, among the three of them, have upwards of 90 years of combined experience in complex structured finance transactions. Another contact is Daniel Oshinsky, who specializes in liquidity facility agreements and structured credit. In the CLO space, significant manager clients have included PGIM, Cerebus Capital Management, Fortress Investment Group and GoldenTree Asset Management.

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