The Legal 500 > United States > United States > Structured finance: derivatives and structured products

At Cadwalader, Wickersham & Taft LLP, Ray Shirazi is active in a broad range of commodities and derivatives work, ranging from structured notes through to more macro-level questions of LIBOR transition. Other areas of expertise include all manner of innovative debt structures, and complex CFTC and global regulatory matters. Other key figures include Brian Foster, who is active for broker and buy-side clients on swaps and derivatives work; Ivan Loncar, a trusted advisor to a number of investment banks in this space; and Lary Stromfeld, whose recent highlights include advising the Federal Reserve's Alternative Reference Rate Committee on various LIBOR issues. Richard Schetman and Charlotte-based Scott Cammarn jointly head the practice group.

Fried, Frank, Harris, Shriver & Jacobson LLP's 'extremely strong' derivatives practice is led by Robert McLaughlin, who handles a range of swaps and derivatives work for major asset managers, and also advises on accelerated share repurchases for well-known corporate clients. 'Walking encyclopedia' David Mitchell is another key figure in the team; he handles derivatives work for elite private equity and hedge fund managers. Swaps and hedges in connection with flagship real estate deals are another particular area of expertise. Also recommended are Washington DC-based William Breslin and Victoria Mazgalev, who was promoted to special counsel.

Mayer Brown's derivatives group is particularly experienced in FINRA and CFTC regulatory matters, but is equally well known by leading investment banks for its broader expertise in structured finance. Key figures in the practice group include Curtis Doty a reputable advisor to a number of central industry bodies, and Anna Pinedo, who has considerable expertise in structured notes, an area where Edward Best and Bradley Berman are also recommended. Matthew Kluchenek in Chicago and Marlon Paz in Washington DC joined the firm in 2019 from Baker McKenzie LLP and Seward & Kissel LLP, respectively. In addition to its strong domestic client base, the firm also has specialist expertise in acting for Canadian and French bank clients.

Swaps and derivatives work is a core strength for the team at Katten, which routinely advises well-known banks from the US and abroad on a huge range of transactional and regulatory issues. Stanford Renas and Don Macbean handle swaps and futures work in relation to major energy deals, while Guy Dempsey, Gary DeWaal and Kevin Foley in Chicago are key contacts for regulatory matters. The firm also has a track record of work for broker-dealers and hedge funds, with particular strength in the are of algorithmic trading. Lance Zinman heads the firm's global financial markets practice.

Latham & Watkins LLP fields a team of lawyers with expertise in areas including structured lending, equity-linked derivatives and various asset-backed products. Names to note include Witold Balaban, who co-chairs the firm's global financial institutions industry group, and specializes in equity-linked products; Courtenay Myers Lima, a trusted advisor to a number of major financial institutions; and Reza Mojtabaee-Zamani, another key name for equity derivatives and convertible notes. Yvette Valdez heads the firm's US derivatives regulatory practice.

Morgan, Lewis & Bockius LLP has core expertise in currency hedges and futures trades relating to the development of power products. The team is jointly led by Michael Philipp in Chicago, and Thomas D’Ambrosio, who advises clients including hedge funds, asset managers and multinational corporates on the negotiation of derivatives across a spread of asset classes. Brendan Kalb is also recommended both for transactional work and standalone regulatory advice. Joshua Sterling left the firm and is now director of the CFTC's Division of Swap Dealer and Intermediary Oversight.

Shearman & Sterling LLP's global finance business unit is headed by Donna Parisi, a go-to advisor to major investment banks on issues ranging from sovereign debt through to margin requirements and the creation of novel structured products. Geoffrey Goldman acts for clients including leading transatlantic exchanges and clearing house, and also has experience structuring OTC derivatives, particularly credit and equity derivatives. Buy-side clients include well known hedge and private equity funds, as well as major corporates.

White & Case LLP is a market leader in the structuring and execution of complex derivatives in the context of large cross-border project finance transactions. Ian Cuillerier and Edward So are key contacts in the team. Cuillerier is particularly well connected throughout the Western Hemisphere; he heads the firm's Canada desk, and also has extensive experience of cross-border projects involving Brazil. So has broad experience structuring derivatives in financing and investment transactions, and has recently advised on derivatives matters in relation to M&A in the energy sector.

Leveraging close relationships with key industry bodies as well as with major industry stakeholders, Allen & Overy LLP's derivatives team focuses on matters involving the interaction of European and US regulations. David Lucking heads the firm's US-based international capital markets group, and has broad expertise in derivatives across a variety of asset classes. Deborah North is another name to note for derivatives work; she is particularly active in OTC derivatives. The team has also worked with its London office on a product called IBORMatrix which uses AI technology to prepare documents for the global transition from LIBOR.

Clifford Chance is particularly well placed to advise on structured issuances and derivatives matters involving elements of US and EU regulation. Key figures in the US team include Gareth Old, a dual US- and UK-qualified partner with experience acting for banks and financial investors; and David Felsenthal, who advises on a range of transactional and regulatory issues, and is also a member of the firm's fintech practice. Another name to note is Lee Askenazi, whose practice focuses on ABS and structured products. Matthew Lyons and James Cotins joined in June 2019 from Alston & Bird LLP.

Hogan Lovells US LLP's Evan Koster has a particularly strong reputation among European investment banks, which he advises on the US regulatory aspects of their derivatives-related activities. Geographically, the practice group is also well-connected in Latin America, while, looking along sector lines, the team has strengths in regulated areas including energy, insurance and healthcare. Senior associate Greg Hafkin left for an in-house role at HSBC, though Adam Lapidus joined the firm from a senior counsel role at Wells Fargo.

Morrison & Foerster LLP advises clients including mid-market and regional banks, investment funds and corporate end-users on a variety of transactional and regulatory derivatives matters. The practice group is jointly headed by commodities expert David Kaufman, and Vladimir Maly, who divides his time between New York and London, and specializes in equity derivatives in relation to cross-border financing transactions and M&A.

Based in Orrick, Herrington & Sutcliffe LLP's New York office, Nikiforos Mathews advises investment banks and corporates on various swaps and derivatives matters, both in connection with transactions and on a standalone regulatory basis. Looking westward, Skanthan Vivekananda joined the firm's Los Angeles office in February 2019 from Arnold & Porter; he has particular expertise in structured issuances and derivative products, including synthetic CLOs. Al Sawyers is another key figure in the global finance business unit.

The team at Paul, Weiss, Rifkind, Wharton & Garrison LLP acts for the capital markets arms of well-known banks, and elite asset managers, both in the private equity and hedge fund spaces. Manuel Frey is the key contact for derivatives advice; he also works in support of other of the firm's teams, such as litigation, providing technical advice on complex financial structures.

Headed by Sylvie Durham, the team at Greenberg Traurig, LLP handles a wide range of matters, including share repurchases, derivatives and interest rate hedges. Another key figure in the team is Nanette Aguirre, an expert in Latin America-focused deals, who also has specialist expertise in work involving private funds.

Haynes and Boone, L.L.P.'s derivatives and structured products practice group was strengthened in early 2019 by the arrival of Giorgio Bovenzi from Dentons. Based in New York, Bovenzi advises on numerous prime brokerage and credit default swap matters, and has a strong client base of investment banks. Also in New York, counsel Brian Sung advises end-users across a number of sectors on commodities hedging strategies and interest rate risk. A key figure in the DC office is Phil Lookadoo, who has expertise in energy-related end-user issues. Neal Kaminsky in Houston leads the firm's wider finance group.

McDermott Will & Emery LLP's structured finance practice has niche expertise in matters relating to municipal and state debt. In addition to her more traditional structured finance and tax work, Andrea Kramer has also been involved in the structuring of more exotic instruments, such as weather derivatives. David Taub heads the firm's financial institutions advisory group.

As part of Ropes & Gray LLP's broader asset management practice, Deborah Monson in Chicago, covers the full range of swaps and derivatives advice for leading private equity, mutual fund and hedge fund managers, as well as start-up hedge funds. Isabel Dische handles transactions such as accelerated share repurchases.

Unsurprisingly for a firm with a market-leading fund formation practice, Simpson Thacher & Bartlett LLP's derivatives team is well-known for handling derivatives and structured issuances for private equity houses and portfolio companies. The practice group, however, also represents a number of investment banks and trading companies in derivatives transactions across a wide range of asset classes. Jonathan Lindabury heads the derivatives team; associate Caitlin Wood has also been recognized by clients.

Willkie Farr & Gallagher LLP's derivatives group is particularly active in the commodities space, with recent highlights in energy and soft commodities work. Structured finance and derivatives group chair Thomas French has experience of derivatives transaction across a range of asset classes, while Washington DC's Paul Pantano specializes in energy and commodities derivatives, and acts for energy companies, swap dealers and trade associations, among others.

Winston & Strawn LLP has a track record of derivatives work, in particular in relation to local government finance. Practice head Michael O’Brien has experience acting for financial institutions, mutual fund managers and other end-users. Michael Loesch in Washington DC is a contact for CFTC regulatory matters.