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Cleary Gottlieb Steen & Hamilton

ONE LIBERTY PLAZA, NEW YORK, NY 10006, USA
Tel:
Work +1 212 225 2000
Fax:
Fax +1 212 225 3999
Email:
Web:
www.cgsh.com
Abu Dhabi, Beijing, Brussels, Buenos Aires, Cologne, Frankfurt and 10 more

Michael Krimminger

Tel:
Work 1 202 974 1720
Email:
Cleary Gottlieb Steen & Hamilton

Position

Michael H. Krimminger is a partner based in the Washington, D.C. office. Mr. Krimminger’s practice focuses on domestic and international financial regulatory matters, including virtual currency, blockchain, and other FinTech developments. After playing a leading role in international efforts to enhance global resiliency, he advises on capital, derivatives, corporate governance, and resolution and recovery requirements.

Career

Mr. Krimminger joined Cleary Gottlieb in 2012 after serving for more than two decades in numerous leadership positions with the Federal Deposit Insurance Corporation (FDIC), including most recently as its General Counsel. As General Counsel, Mr. Krimminger served as the principal legal and policy advisor to the Chairman and Board of Directors regarding the legislative development and later implementation of regulatory and policy components of the Dodd-Frank Act, including its SIFI resolution, living wills, capital markets and capital, and structured finance requirements. Mr. Krimminger also played a major role in the FDIC and U.S. efforts to enhance resolution planning and cross-border cooperation among G-20 countries. He was also responsible for all legal policy, litigation, corporate issues, and operations for the 730 attorney and non-attorney members of the Legal Division. Prior to serving as General Counsel, Mr. Krimminger served as Special Advisor for Policy to the Chairman and Deputy to the Chairman for Policy. He played a central role in the FDIC’s response to the financial crisis and the development of Dodd-Frank Act provisions addressing capital markets, capital requirements, creation of the Financial Stability Oversight Council, living wills, enhanced prudential supervision, risk retention, resolution authority, and other provisions of the Act. He also directed the strategic development, analysis and implementation of initiatives on corporate legal policy, capital policy, systemic stabilization, SIFIs, domestic and international resolutions, mortgage policy and housing finance, and derivatives, securitization, and other structured finance transactions. Mr. Krimminger’s international experience includes serving as the co-chair of the Basel Committee’s Cross Border Resolutions Group and representing the FDIC on the Financial Stability Board’s Resolution Steering Group and other bodies. He has played a central role in bilateral and multilateral discussions with regulators around the world on legal reform, resolution planning, capital and liquidity requirements, and strategies for implementation of financial market reforms for derivatives and other financial market contracts.

Member

Mr. Krimminger is a member of the Bars in California, Virginia and Washington, D.C.

Education

Mr. Krimminger received a J.D., with Distinction, from Duke University School of Law in 1982, where he served on the Editorial Board of the Duke Law Journal. He received an undergraduate degree, Phi Beta Kappa, from the University of North Carolina in 1979.


United States: Finance

Financial services regulation

Within: Financial services regulation

Steeped in 'real word experience', Cleary Gottlieb Steen & Hamilton excels in providing strategic, high-level counsel to systemically important financial institutions (SIFIs). Utilizing the expertise of lawyers across numerous international offices, a key part of the firm's success in the area is its ability to provide coordinated advice that is mindful of regulatory concerns not just from a US perspective but from a global one. Leveraging expertise gleaned from his time at the Federal Deposit Insurance Corporation (FDIC), Michael Krimminger spearheads the firm's market-leading resolution planning work for domestic and international financial institutions, including Capital One and Credit Suisse - work which includes the development of global strategies for resolution as well as advice on optimal debt and equity strategies in response to changing US and global requirements. Krimminger has also been a pivotal presence on many of the firm's fintech-related mandates, including helping Paxos Trust Company become the first US-chartered and regulated virtual currency exchange. The 'excellent' Derek Bush continues to represent domestic and foreign banks on Volcker Rule matters, including providing advice on permissible activity under the rule, as well as on the restructuring and spinning out of trading and fund operations to minimize its impact. In addition to her banking M&A and anti-money laundering (AML) expertise, Katherine Mooney Carroll is also well regarded in the market for her Volcker Rule knowledge.  'Very experienced' senior counsel Jack Murphy is noted for his bank regulatory expertise, while on the trading front, New York-based Edward Rosen  and Colin Lloyd  continue to advise many large US banks on how to restructure their swap-dealer businesses to comply with Dodd-Frank and also regularly act for Securities Industry and Financial Markets Association (SIFMA) on derivatives matters. Attorneys are based in Washington DC, unless otherwise indicated.

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