Hall Of Fame

Next Generation Partners

Firms To Watch: Banking, finance and capital markets

Having joined towards the end of 2022, WIDEN‘s banking and finance team is led by Aušra Brazauskienė, who oversees a range of licensing, financing, and regulatory mandates for financial institutions and fintechs. The practice was further bolstered by the addition of Rita Sabutė in 2023, formerly at the Bank of Lithuania.

Banking, finance and capital markets in Lithuania


Advising a combination of financial institutions, venture capitalists, and companies, Cobalt advises both lenders and borrowers on large cross-border investments, financings and transactions, with other areas of expertise covering restructuring and bond issues.  The practice is led jointly by M&A and financing expert Eva Suduiko and Akvilė Bosaitė, noted for her experience assisting startups and venture capitalists, among others. They are also joined by well-known M&A, banking, and competition lawyer Elijus Burgis along with managing associate Aurelija Balčiūnė, who brings additional depth in compliance, anti-money laundering and aircraft finance. Senior associate Vytautas Vosylius is also highly active, focusing on regulatory compliance and security transactions. The firm has broad sector experience encompassing companies operating in foods, tech, and aviation.

Practice head(s):

Akvilė Bosaitė; Eva Suduiko

Other key lawyers:

Elijus Burgis; Aurelija Balčiūnė; Vytautas Vosylius; Marina Kotkas


‘Cobalt Banking team has excellent expertise in corporate finance field. Their main strengths are good listening to the client needs, orientation to the result. We like direct approach of the question at hand.’

‘Partner Eva Suduiko is extremely experienced in her practice field.’

‘The team takes a commercial approach with solid experience and quick response times.’

Key clients

Luminor Bank AS

INVL Asset Management

DNB Markets, Carnegie Investment Bank AB, DNB Bank ASA, Nordic Trustee & Agency AB (publ)



Kevin EU, UAB

The IT Channel Company

Teltonika IoT Group

AS Repharm

European Bank for Reconstruction and Development


mBank S.A.

European Investment Fund


Red holdings

Coffee Address


LHV Asset Management and LHV pension funds

Arion Bank

Work highlights

  • Advised Luminor Bank AS on issues of covered bonds in Ireland, where the underlying collateral is located inter alia in Lithuania, Latvia, and Estonia.
  • Advised INVL Asset Management in the securitization project for the modernisation of buildings sponsored by Šiaulių bankas (as originator).
  • Advising European Bank for Reconstruction and Development on the structuring of the transaction with Invalda INVL, Nord Security and ME Investicija on the sale of 18 per cent stake in Šiaulių Bankas.


Ellex‘s ‘responsive and commercially-minded’ banking and finance team advises global banks and investors on large transactions and project financings. Sustainable loan structures as well as the issuing of private bonds are further areas of expertise, as is ensuring compliance with sanctions. Co-head Ieva Dosinaite  is experienced on cross-border financings, capital markets, and fintech. Co-head Giedrius Stasevicius  offers standout expertise in complex lending structures and bond issues, while Eglė Neverbickienė assists on secured financing and transactions. Eglė Radvilaitė is mentioned for her financial regulation experience, which includes the areas of financial institution licensing and fintech, as is Domantas Gudonis on fintech regulation, IT, and licensing.

Practice head(s):

Ieva Dosinaitė; Giedrius Stasevičius

Other key lawyers:

Eglė Neverbickienė; Eglė Radvilaitė; Domantas Gudonis


‘Very responsive and commercially-minded team.’

‘The team is extensive and has excellent knowledge of lending and project finance transactions. They provide really helpful and practical advice in a timely manner.’

‘Ieva Dosinaite is an experienced lawyer who looks after the client’s interests and finds workable and efficient solutions.

Key clients

Baltic Rezo

European Bank for Reconstruction and Development (EBRD)

Gren Holding B.V.

Maxima Grupė

Orkela, UAB (subsidiary (SPV) of Lords LB Asset Management)

Luminor Bank AS, acting through Lithuanian branch




Payrnet, UAB

UniCredit Bank and Raiffeisen Bank, Banca Comercială Romana, ING Bank and OTP Bank Romania SA

EIG Global Partners

Kauno Kogeneracinė Jėgainė UAB

Partners Group (UK) Limited

Mzuri Group Ltd

Credit Suisse (France)

Bank of America

Technopolis Oyj

Corein UAB

Omberg Group UAB

Investmira, UAB (subsidiary (SPV) of Lords LB Asset Management)

Wells Fargo Bank

Citigroup Global Markets Inc.

Vilniaus miesto projektai UAB (subsidiary (SPV) of Lords LB Asset Management)

Matuda, UAB (subsidiary (SPV) of Lords LB Asset Management)

Orion Bank, UAB

Curve UK Limited

Closed-end investment undertaking for informed investors UAB “Capitalica Baltic Real Estate Fund I”

Work highlights

  • Advised EBRD on providing a secured loan of up to Eur 38,23 million to Vilnius public transport renewal.
  • Assisted Gren Group in obtaining EUR 300 million additional financing package to support Gren Group’s next phase of growth.
  • Advised Baltic Rezo, a company from the Quaero European Infrastructure Fund II (QEIF II), in borrowing €30m from SEB Bank for the development of sustainable telecommunications infrastructure in the Baltic States.


The ‘top quality’ practice at Sorainen remains a prominent player in sustainable energy sector transactions and financings, with other core areas of expertise in bond and eurobond mandates. Moreover, the team also provides advice on innovative financial services such as crowdfunding, as well as support on ESG compliance. Key to this is co-head Tomas Kontautas who has a strong record in regulatory cases across the banking, fintech, and ESG landscapes. Co-head Augustas Klezys is highly experienced on transactions and derivatives;, while Other key names include Agnė Sovaitė  on M&A financing and Vitalija Impolevičienė on ESG, finance and insurance regulation. Lina Aleknaitė-van der Molen joined the team from Cobalt in the latter half of 2023.

Practice head(s):

Tomas Kontautas; Augustas Klezys

Other key lawyers:

Agnė Sovaitė; Vitalija Impolevičienė; Lina Aleknaitė-van der Molen


‘Practice is briliant, team is business orientated, suggests flexible business- orientated solutions.’

‘Flexibility, availability and the capacity to engage in vastly different projects at an international level.’

‘Sorainen Banking and Insurance team provides top quality legal services. They listen to client needs and propose concrete plan how to tackle the problem with possible outcomes. We like their direct approach.’

‘The speed of cooperation and quality of responses we get. The polite yet very warm communication.’

‘Experience, competence, speed of reaction, friendly approach, being open. I really appreciate cooperation with Augustas Klezys, best recommendations.’

‘High level of knowledge. Understanding of client’s issues.’

‘Pragmatic and efficient.’

‘Augustas Kleizys is calm and sharp in trying to find individual-designed legal solutions for clients.’

Key clients

Orion Leasing


INVL group

Deutsche Bank

The MUFG Bank of Japan

Citi and Societe Generale

Luminor Bank

Nordic Investment bank and Citadele Banka

Citadele Banka

Legal Balance

Baltic Mill

Work highlights

  • Acted as a lead counsel to INVL group in signing the deal with Šiaulių Bankas (both listed entities) on merging their retail businesses.
  • Represented banks-dealers in Lithuania’s issuance of a new 10-year Eurobond. Lithuania borrowed EUR 1.25 billion in international capital markets.
  • Assisted Orion Leasing, a leasing company for businesses, in signing a guarantee agreement with the European Investment Fund under the new InvestEU Programme for EUR 52.8 million in new financing in the form of leasing contracts and microloans.


WALLESS works with borrowers and lender on large financings spanning from renewables to transportation. Bond work and M&A financing also represent key areas of expertise, symbolised by the firm’s recent advice to Siauliu Bankas on merging parts of their retail business with INVL. Practice head Joana Baublytė-Kulvietė has experience advising on cross-border restructuring, transactions, and regulatory compliance, as does Gediminas Reciunas , a highly respected practitioner who has further expertise on aviation financing, among other areas. Additional key names include capital market and insurance expert Laurynas Narvydas and Enrika Tamasauskaite , noted for their work on secured lending and aviation finance.

Practice head(s):

Joana Baublyte-Kulviete

Other key lawyers:

Gediminas Reciunas; Laurynas Narvydas; Enrika Tamašauskaitė


Diligent and resourceful. They are eager to understand the goals of the client and have the knowledge to contribute to achieving those.

Key clients

European Bank for Reconstruction and Development


OP Corporate Bank

BNP Paribas Emissions- und Handelsgesellschaft


Modus Asset Management

Lithuanian Central Credit Union

Siauliu Bankas

Blender group

Vilniaus Baldai

Work highlights

  • Advised Siauliu Bankas in signing an agreement with INVL, the leading investment management and life insurance group in the Baltic region, to merge segments of their retail businesses.
  • Assisted Modus Asset Management, a licensed investment fund management company, in launching Clean Energy Infrastructure Fund, qualifying as a Dark Green Fund, and attracting EUR85 million in investor commitments, led by European Investment Fund and Baltic pension funds, and EUR 17 million in a revolving credit from a local commercial bank.
  • Advised Siauliu Bankas in concluding a 10-year subordinated bond issuance, raising EUR 50 million in the international financial markets.

Eversheds Saladžius (a member of Eversheds Sutherland)

Eversheds Saladžius (a member of Eversheds Sutherland) regularly works on behalf of multinational financial institutions and commercial banks on a series of regulatory compliance, structured and loan financing matters. Benefitting from the firm’s , clients praise the team for being ‘responsive, commercial and clear‘, in addition to their ‘vast knowledge’. Managing partner Jonas Saladžius is well-placed to assist on deal structuring and regulatory aspects of the banking, finance, and fintech sectors. With deep experience, Tomas Rymeikis  focuses on financing transactions as well as related competition aspects. Justina Drėgvaitė is noted for her work on licensing, while Ana Čepinskienė  regularly handles cross-border transactions, the raising of secured loans, and corporate reorganisations.

Practice head(s):

Jonas Saladžius; Tomas Rymeikis

Other key lawyers:

Justina Drėgvaitė; Ana Čepinskienė


‘The team is professional and every team member holds expertise in certain area, therefore team has very beneficial practice of sharing cases and consulting each other, as well as passing each other tasks in case they require attention of different area. the teamwork makes this service truly unique.’

‘Our point of contact is Rimtis Puisys, who is extremely professional in delegating tasks to his team, but also is a great professional himself. He is strongly supporting us in all external legal-related meetings and is highly professional and decent in his support.’

‘They are responsive, commercial and clear with information.’

‘All individuals are extremely responsive and offer vast knowledge, they are excellent.’

Key clients

Miss Group


Iban Online

Magnum AS


Work highlights

  • Advised and represented Miss Group in relation to raising an additional secured loan from one of the international financial institutions.
  • Advising Komfovent regarding its new factory construction project, applying for the status of “large investment project” and receiving state aid.

GLIMSTEDT Bernotas & Partners

GLIMSTEDT Bernotas & Partners advise on a range of structuring, licensing, and financings for  private investment funds, venture capitalists, and banks as they look to enter and expand into the Lithuanian market. Practice co-head Linas Sesickas  has great experience assisting on banking and insolvency, while co-head Egidijus Bernotas , also known as an energy and litigation specialist, advises on M&A, private equity, and PPP financing.  Ausra Maliauskaite-Embrekte and Michailas Molis  are noted for their involvement in private equity and venture capital mandates, whereas Tautvydas Užkuras has expertise in financial regulation, licencing and AML matters.

Practice head(s):

Linas Sesickas; Egidijus Bernotas

Other key lawyers:

Aušra Maliauskaitė-Embrektė; Michailas Molis; Tautvydas Užkuras


‘Strengths – know-how and hands on experience key capabilities – support on transaction, anticipated requirements, support with additional tasks, good follow-up and timely delivery. Innovation – hiring multi-cultural teams to bring diversity and broader perspective.’

‘No complaints, very responsive.’

‘Key people I worked with were Aušra Maliauskaitė-Embrektė (partner) and Tautvydas Užkuras (associate) – happy with their service.’

Key clients

Partnerystės projektai keturi (EIKA group)

Tvariųjų išteklių plėtros skatinimas

Samogitia miestelis (EIKA group)

Alma literra, AL holdingas

Klaipėdos universiteto ateities paramos fondas

European Merchant Bank

Work highlights

  • Advised UAB Samogitia miestelis on borrowing €28m from Luminor bank to finance  the development of the major military infrastructure (base-town) project in Šiauliai, Lithuania, and implemented by Ministry of Defence of the Republic of Lithuanian under PPP model.
  • Advised UAB Partnerystės projektai keturi on the issue of bonds (to be listed on Nasdaq) to finance the development of the major military infrastructure (base-town) project in Šiauliai, Lithuania.
  • Advised Tvariųjų išteklių plėtros skatinimas KŪB on financing the Kaunas district street lighting system modernization project implemented by UAB Venteos, UAB Frineta and Kaunas district municipality under PPP model and forfaiting structure.


Noewe' banking and finance practice group is led by Agnė Jonaitytė, who has deep experience advising on cross-border transactions and compliance as well as sustainable finance and corporate governance. Managing partner Robert Juodka also supports, advising a balance of domestic and foreign clients on infrastructure, green energy, and real estate financing, acquisitions, and regulatory matters. Senior associate Greta Bagdanavičiūtė is also very active, providing assistance on regulatory, licensing and public procurement, among other areas.

Practice head(s):

Agnė Jonaitytė

Other key lawyers:

Robert Juodka; Greta Bagdanavičiūtė


‘Diligent and resourceful. They are eager to understand the goals of the client and have the knowledge to contribute to achieving those.’

Key clients

EESTI Energia Group

Ziya Nehir Lojistik Ticaret AS


Raiffeisen-Leasing Litauen

Dobeles Dzirnavnieks

Closed type investment fund for informed investors UAB “DIFF Finance”

Work highlights

  • Assisted Eesti Energia in complex negotiations with an international investment fund Acquila Capital Holding and its Lithuanian subsidiaries on development of wind power parks and long-term acquisition of green electricity produced in such parks under an Individual Power Purchase Agreement for Corporates and Utilities.
  • Assisted transport and logistics company Ziya Nehir Lojistik Ticaret AS with incorporation of its new business in Lithuania as well as represented the client when dealing with the Lithuanian financing institutions in connection to financing of activities of the new business.
  • Advised Rafako S.A. on a review of compliance and anti-money laundering procedures in the process of construction of the CHP Plant (combined waste and biofuel incineration plant) in Vilnius commissioned by Ignitis subsidiary VKJ (Vilniaus kogeneracinė jegaine).

LEADELL Balciunas ir Grajauskas

LEADELL Balciunas ir Grajauskas has notable specialisms assisting insolvent credit unions through bankruptcy proceedings and portfolio transactions as well as representing several leading banks on a range of loan disputes. Further, the practice has also seen a number of further highlights involving electronic money institutions as well as assisting on the acquisition of a company developing an onshore wind farm. With former experience in-house at major financial institutions, Marius Grajauskas is highly experienced on loan transactions and debt recovery, among his broader specialisms in arbitration. Gintaras Balciunas is another well-respected financial litigator having served as a former Minister of Justice, while Lina Balciune is noted for her anti-money laundering expertise. Jurgita Najulyte is also mentioned for her AML compliance for banks and fintechs.

Practice head(s):

Marius Grajauskas; Gintaras Balčiūnas; Jurgita Najulytė; Lina Balčiūnė

Key clients

“Nacionalinė kredito unija”

“Laikinosios sostinės kreditas”

“Vilniaus kreditas”

“Centro taupomoji kasa”

“Pajūrio kredito unija”

“Vilniaus taupomoji kasa”


“Naftininkų investicijos”

Danske Bank A/S Lithuanian Branch

“Verified Payments”, UAB

“Renerga”, UAB

“Indeco: Investment and Development”, UAB

Work highlights

  • Representing the interests of several insolvent credit unions which act under the provision of the Financial Supervision Authority of the Republic of Lithuania, in the process of the loan portfolios transactions, while in addition defending the Client’s best interests in courts.
  • Advising and representing Danske Bank A/S Lithuanian Branch in a dispute concerning legal claims related to the regulation of the procedure, terms, and conditions for the opening of a bank account.
  • Advised electronic money institution “Verified Patments”, UAB on internal procedures as well as the submission of documents to the BoL before and after the inspection.

ECOVIS ProventusLaw

ECOVIS ProventusLaw is especially well-suited to assist on regulatory compliance and licensing requirements for alternative finance providers, including fintechs and crowdfunding platforms, in addition to providing auditing, compliance, and anti-money laundering services. Practice head Inga Karulaitytė-Kvainauskienė  has experience handling regulatory issues, together with assisting clients in obtaining banking licenses and complying with sanctions and AML legislation. Daiva Lideikienė is particularly prominent on internal auditing and risk management, while Loreta Andziulyte is also an active member of the team.

Practice head(s):

Inga Karulaitytė-Kvainauskienė

Other key lawyers:

Daiva Lideikienė; Loreta Andziulytė; Kęstutis Kvainauskas


‘The team is very responsive, fully understands the client’s problem and, with all responsibility, tries to solve it as quickly as possible. The company is also constantly working to improve the technical side of its systems to optimize and improve the quality of services provided.’

‘Our company values quality, efficiency, sincerity and dedication. These are the qualities that the Ecovis team possesses.’

‘Professionals in banking compliance field.’

Key clients

UAB “Bitė Lietuva”

Clearshift UAB

Opay solutions UAB


Maneuver LT, UAB

UAB Arcapay


Lietuvos draudimo brokerių įmonių asociacija

NEO Finance, AB

Work highlights

  • Advised Clearshift, UAB on compliance, risk management, capital adequacy, outsourcing and other legal matters.
  • Assisted Digital Virgo Group on the capital restructuring of its holding company.
  • Advised the Lithuanian Association of Lithuanian Insurance Broker Companies on the latest anti-money laundering and counter-terrorist financing (AML/CTF) requirements.


FORT offers a broad range of services throughout the banking and finance space ranging from assistance on transactions and financings, and bond issuance to regulatory compliance for crowdfunding platforms and fintechs. The experienced Andrius Mamontovas covers a broad set of financings, regulatory and disputes cases. He is supported by Mindaugas Zolynas and associates Gytis Kuncevičius, Agnė Mecelienė, and Vytautas Pasvenskas.


Practice head(s):

Andrius Mamontovas

Other key lawyers:

Mindaugas Zolynas; Gytis Kuncevičius; Agnė Mecelienė; Vytautas Pasvenskas.

Key clients

Bondora Groups AS

Eika Asset Management UAB

FinPro, UAB

Mano numai, UAB

Pace App, UAB

Perfect Sunday, UAB

VIA SMS group, AS


Response regularly advises on bond issuances, licensing, anti-money laundering compliance, and regulatory matters for a range of financial institutions, asset management companies and crowdfunding groups. Praised for its ‘highly qualified professionals’, the firm is led by licensing and alternative finance specialists Vytautas Šenavičius and Tadas Lukošius, as well as regulatory and fintech expert Jakaterina Govina who draws on her prior in-house experience. Senior associates Kristupas Bagdonavičius and Karina Zenkevičiūtė are also highly active, as is Andrius Karmonas on AML compliance.



Practice head(s):

Vytautas Šenavičius; Tadas Lukošius; Jakaterina Govina

Other key lawyers:

Kristupas Bagdonavičius; Karina Zenkevičiūtė; Andrius Karmonas


‘The law firm employs highly qualified professionals who provide the company with the highest quality services, are competent professionals in their field, capable of solving the most complex issues and achieving only the best results that meet the client’s expectations.’


Key clients



UAB Easy debt service

UAB Nter Asset Management

UAB Uniqum capital


UAB Milvas

UAB Drusvalas

UAB Viena sąskaita


UAB “H Pay & Go” (Hokodo)



UAB Nordstreet

UAB HeavyFinance

UAB Andrum Fund

UAB Crowdpear

UAB Bendras finansavimas (SAVY)


Trečia diena, UAB (Röntgen)

Jungtinė Centrinė Kredito Unija (KREDA)

Credit union Saulėgrąža

Elektrėnų credit union

Credit union LITAS

UAB Kreditguru

Work highlights

  • Advising two clients on obtaining specialised and full bank licenses.
  • Assisted Hokodo Ltd. and its international investors on successful acquisition of UAB “H Pay & Go”.
  • Advised Jungtinė Centrinė Kredito Unija (KREDA) on issuance of EUR 3m bonds and upgrading its membership agreement.

Law Firm TESET

Law Firm TESET specialises in establishment, regulatory and compliance matters for asset management companies and investment funds, as well as providing advice to fintechs, crowdfunders, and other electronic money platforms. Managing partner Tomas Talutis, an experienced insurance, banking, and alternative finance specialist, heads the team, while Agnė Sodaitė is another integral member.

Practice head(s):

Tomas Talutis

Other key lawyers:

Agnė Sodaitė

Key clients

Stanhope Financial UAB

Lords LB Asset Management UAB

Eika Asset Management UAB

Union Asset Management UAB

8 Stars UAB

Baltic Financial Advisors Association


Finbro UAB

Pyrros Lithuania UAB

Novus Asset Management UAB

Orion Asset Management UAB

Atelier Investment Management UAB

Work highlights

  • Advised crowdfunding platform www.letsinvest.eu on re-licensing of activity.
  • Advising Stanhope Financial UAB on regulatory requirements and compliance matters.
  • Advising Lords LB Asset Management on regulatory requirements and compliance matters.