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Simmons & Simmons

CITYPOINT, ONE ROPEMAKER STREET, LONDON, EC2Y 9SS, ENGLAND
Tel:
Work +44 20 7628 2020
Fax:
Fax +44 20 7628 2070
DX:
12 LONDON CHANCERY
Email:
Web:
www.simmons-simmons.com

Piers Summerfield

Tel:
Work 020 7825 3181
Email:
Simmons & Simmons

Position

Piers is a partner in the capital markets group, which forms part of the financial markets department. He has significant experience in international capital markets work, both equity and debt, with a particular focus in recent years on equity-linked transactions. His experience has included advising issuers and underwriters on a wide range of debt and equity capital markets work including straight bonds, convertible and exchangeable bonds, Euro Medium Term Note Programmes and Euro Commercial Paper Programmes, GDRs and liability management transactions. His experience has covered a broad range of jurisdictions, including most parts of Europe, the Middle East, South Africa, Russia, Ukraine, Kazakhstan, Japan, Australia and Canada.

Career

Worked at a leading international law firm, London, Paris and S√£o Paulo, for over 12 years; secondment to a major international bank in London; capital markets partner Simmons & Simmons, London 2012.


London: Finance

Debt capital markets

Within: Debt capital markets

Simmons & Simmons is known as a key adviser on high-end debt capital markets transactions for large corporates such as British Land, Rentokil, Pearson and fintech company LendInvest. It also acts for many of the world's leading investment banks. The 'knowledgeable, calm' Piers Summerfield is 'a very commercial and pragmatic lawyer'; he acted alongside the 'commercial, business-oriented' Jonathan Mellor for Stifel on a $250m convertible bond offering by UK-based oil and gas company Hurricane Energy. Summerfield also acted for LendInvest in the establishment of its £500m EMTN programme. The other key partners in the practice are Simon Ovenden, who has 30 years' experience in corporate and sovereign bond issuances, and Charles Hawes, who frequently advises arrangers and institutional investors. Ovenden's highlights included assisting Wal-Mart Stores with two cash tender offers, one valued at $5bn and the other $2.5bn. US securities partner Christopher Walton, who joined from Clifford Chance LLP, focuses on equity and debt capital markets transactions across the EMEA region.

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London: TMT (technology, media and telecoms)

Fintech

Within: Fintech

The 'extremely professional, thorough and prompt' team at Simmons & Simmons has 'great strength in depth' and leaves clients 'delighted with the quality of its service'; it leverages the firm's strengths in asset management, investment funds, financial services and technology to provide excellent fintech advice across the board, though peer-to-peer lending is an area of particular strength. 'Outstanding' group head Angus McLean advised the British Business Bank on regulatory matters, mostly involving assessing the suitability of finance platforms to which small and medium-sized enterprises would be referred. Other areas of fintech experience include AI, payments, regtech, insurtech, blockchain, cryptocurrencies and robo-advice. On the transactional side, Piers Summerfield assisted LendInvest with establishing its £500m EMTN programme, Isabella Roberts advised Fidante Partners Europe as bookrunner on Augmentum Fintech's £125m IPO, and Patrick Graves acted for Metro Group on its £12m investment in Yoyo Wallet. In dispute resolution, Patrick Boylan represented Capco as plaintiff in commercial litigation; the £100m case accused numerous defendants of economic torts, copyright infringement and corporate wrongdoing. Other recommended partners include financial services regulatory experts Penny Miller and Mahrie Webb, and asset-backed finance and securitisation specialist Michael Lorraine. Technology expert George Morris made partner in 2018.

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Legal Developments by:
Simmons & Simmons

  • Failure to counter financial crime: Norwich Union Life

    In December 2007, the Financial Services Authority (FSA) imposed a fine of £1.26m on Norwich Union Life (part of the Aviva Group), one of the largest life insurance businesses in the UK with around seven million customers. The fine related to failures to take reasonable care to establish and maintain effective systems and controls for countering the risks of financial crime. The fine is the latest confirmation of the emphasis being placed on protecting clients and customers from the threat of financial crime.
    - Simmons & Simmons

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