The derivatives and structured products practice at Hogan Lovells Cadwalader is active in credit risk transfers, CLOs, synthetic securitizations, and esoteric asset class transactions. The team is co-headed by James Frazier, who handles credit risk transfer matters, and Ivan Loncar, whose practice spans structured municipal finance, debt refinancing, and warehouse facilities. Brian Foster focuses on financing, derivatives, and structured products and is often involved in structured and private equity investments. Lary Stromfeld is noted for his work in complex market structures, novel ESG securitizations, and regulatory matters. Jed Miller advises on commercial real estate loan securitizations, credit risk transfer transactions, and significant risk transfer structures. Patrick Calves handles hedge fund interests, mortgage loan repurchase facilities, and secured back-leverage financings, reflecting the group’s broader expertise in complex financing arrangements. Daniel Meade, based in the DC office, brings experience in commercial real estate loan matters. Following its successful merger with the practice at Hogan Lovells US LLP, the team now encompasses the full spectrum of transactional, regulatory, and contentious work, with a core emphasis on derivatives transactions. The practice frequently acts for major multinational banks and is active across sectors including healthcare and manufacturing. Edward So joined the firm as practice head in May 2025. He is highly experienced in ATM transactions, hedging arrangements, and equity derivatives matters, and is also adept at advising on related regulatory and tax issues. Marvin Goldstein focuses on commodities and derivatives law, bringing expertise in revolving credit facilities, bespoke finance structures, and high-stakes litigation. Other key lawyers include Lauren Kimmel, who assists on a range of transactional and regulatory matters. All lawyers mentioned are based in New York unless otherwise noted.
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Accolades

Client satisfaction: Lawyer & team quality
Client satisfaction: Sector knowledge
Client satisfaction: NPS ®

Key clients

  • Third Coast Bancshares, Inc.
  • A number of regional banks and Global Systemically Important Banks (G-SIBs)
  • Two G-SIBs for Tender Option Bond Trusts (TOBs)
  • A U.S. G-SIB
  • Laconic Infrastructure Partners Inc.
  • BWX Technologies
  • Saudi Aramco
  • Lockheed Martin
  • JPMorgan Chase & Co
  • Morgan Stanley
  • Freepoint Commodities
  • Goldman Sachs

Work highlights

Routinely advises banks of various sizes on the effective structuring, negotiation and implementation of Significant Risk Transfers (SRTs), transactions which sit at the intersection of derivatives and structured finance, which offer banks capital relief under the Basel bank capital regulations.
Represents dealers and buy-side firms, and in 2025 began to represent two additional G-SIBs, in connection with the creation and maintenance of both taxable and tax-exempt municipal tender option bond trusts, including proprietary and third-party tender option bond trusts (TOBs).
Acted as legal counsel to Third Coast Bank in its first-ever securitization—a $200 million revolving commercial real estate loan made to one of America’s largest private investment firms focused on real estate development.

Lawyers

Hall of Fame

The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.

Leading partners

The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.

Practice head

James Frazier; Ivan Loncar; Edward So

Other key lawyers

Brian Foster; Lary Stromfeld; Jed Miller; Patrick Calves; Daniel Meade; Marvin Goldstein; Lauren Kimmel