David is a partner in our Financial Regulation Group and a member of our Financial Institutions Group. His practice incorporates transactional and advisory work for a broad range of established financial institutions, financial technology firms and challenger banks.
He has detailed practical experience of the prudential and conduct regimes that apply to UK financial institutions in all financial sectors, and of the UK recovery and resolution regime. He regularly advises financial institutions and investors on the structuring of capital instruments, with a particular focus on complex funding models, group structures and capital structuring in an M&A context, including leveraged acquisition structures.
David is co-author, alongside Jan Putnis and Nick Bonsall, of the UK chapter of the Banking Regulation Review (published by Law Business Research).
Recent highlights include advising:
- HM Treasury on the implications of the crisis in confidence in Credit Suisse
- Prudential plc on the demerger of its US business (Jackson Financial Inc.) and its UK and European business (M&G) and, more recently, the substitution of the issuer under its bonds
- OSB GROUP PLC on the establishment of its £3,000,000,000 EMTN Programme
- The Chair and executive Directors of Cash Access UK Limited on the establishment of the company and its governance and operational arrangements
- Palamon, Corsair and Currencies Direct on a £140,000,000 strategic investment by Blackstone Tactical Opportunities
- Convex Insurance Group Limited on a $1,000,000,000 equity investment from financial sponsors and other investors and an innovative $500,000,000 structured equity facility
- MCI HoldCo (UK) Limited on the launch of Syndicate 1902 at Lloyd’s
- Aquis Exchange plc on its IPO and the acquisition of NEX Exchange Limited from CME Group
- Various insurers and banks in connection with reorganisations and transfers of business for Brexit-related purposes