About

First Bank of Nigeria’s UK subsidiary FBN UK Limited has been undergoing a particularly active period lately, and a strategy of expansion into new jurisdictions has been skilfully enabled by their lean but highly able legal department. A source explains that, over ‘a short period of time’, the team has ‘developed documentation and legal structures for FBN Bank UK to enable the bank to enter into a range of jurisdictions and sectors across Africa to swiftly build a diverse and sizeable portfolio’.

The team maintains a very high degree of cooperation with the rest of the bank, and works ‘side by side with [the] bankers to actively help bring complex transactions to a successful close’, an indication of a very efficient working relationship. Alongside this, the legal team has also managed to implement a legal panel, develop the bank’s precedent finance documentation and provide robust legal supervision of a number of deals. Indeed, as a source comments, that they have managed this with ‘such a small (but very effective) team’ is even more extraordinary. Simon Nasta heads the legal function at FBN Bank UK and brings with him a wealth of experience gained from in-house roles.