Allen & Overy LLP

Capital Markets: Structured Finance, Securitisation & Derivatives Department

London (Firms)
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What the team is known for Offers top-drawer counsel on the most sophisticated transactions and houses a deep bench of structured finance, securitisation and derivatives specialists. Also has partner expertise in all types of structures and asset classes, including advice on CLOs delivered by some of the world's foremost experts. Adept at handling regulatory and legislative changes, particularly in relation to EMIR and clearing. Its impressive client list includes a number of market-leading international financial institutions.

Strengths"They are responsive and pragmatic," says a source, who also says: "They are leaders in their field."

Clients highlight the firm's "firepower and depth of knowledge in derivatives and structured finance."

Interviewees report: "On complex, high-value matters or tight deadlines they always deliver."

Work highlights Advised NatWest in relation to a £1.1 billion synthetic securitisation of a portfolio of UK ESG renewable assets.

Notable practitioners

Head of the global international capital markets team
David Benton
is widely known to be a authority on credit derivatives. He is a leading figure in the market and is called upon to advise on changes to ISDA documentation.
"He is astandout derivatives practitioner." "He is the person that people turn to in the credit derivatives space."

Emma Dwyer
is highly regarded for her ability to advise buy-side and sell-side clients on derivatives regulations. She acts for an impressive list of clients including global investment banks and financial institutions, as well as trade associations.
"She has a huge depth of knowledge on clearing systems and initial margin offerings." "She is pragmatic and knows everything about the regulatory side."

Franz Ranero
is an outstanding adviser on CLO transactions. He is a leading choice for global banks seeking guidance on CLO issuances and deal-related regulatory advice.
"He is a very smart and very commercial lawyer and has his finger on the pulse of the market." "He is incredibly responsive and very helpful."

Lucy Oddy
maintains an extensive portfolio of bank clients who regularly seek her advice on securitisation transactions. She focuses her securitisation practice on real estate assets, with expertise including RMBS and CMBS.
"She is highly regarded in the CMBS market." "She explains legal information in a language I can understand and she can tell us if things are market."

Parya Badie
has a wide-ranging capital markets practice and garners particular recognition for her ability to assist clients with derivatives transactions. Her client list includes global investment banks.
"She has a very good transactional practice and her clients like and trust her."

Banks, clearing houses and trade associations regularly turn to
Richard Tredgett
for advice on derivatives transactions, including on commodity-linked derivatives. He is highlighted for his knowledge of derivatives regulations and he has particular expertise in EMIR.
"He is a fantastic practitioner who is very cerebral and pragmatic." "He's fantastic and a great draftsman." "He is extremely personable, very calm and very customer-focused."

Salim Nathoo
is particularly skilled at helping banks and mortgage originators set up RMBS and covered bonds programmes. His sector expertise makes him a strong choice for clients looking for advice on complex or inaugural issuances.
"Salim is the expert in the field for residential mortgage-backed securitisation." "He understands all aspects of this business and is a thought leader." "He's very approachable, extremely knowledgeable and goes out of his way to add business value."

Sally Onions
has longstanding experience in the securitisation market and is recognised for her expert handling of RMBS and covered bond transactions. She is a popular choice for banks and investment managers seeking transactional advice.
"She is commercial, clients like her and she is pragmatic." "Her advice is great, swift and succinct."

Suril Patel
has a burgeoning reputation in the space and is esteemed for his knowledge of CLO transactions.

Timothy Conduit
regularly advises on mandates relating to infrastructure energy and projects. His broad market experience covers a wide spectrum of matters, from whole business securitisation to the securitisation of ESG assets.
"Tim Conduit is always good to work with." "He is easy to work with and knows his stuff."