Baker & McKenzie

Comment: Recommended practice for structured finance that has maintained its profile in the market, e.g. through its advice to long-time client DBRS on a structured covered Deutsche Bank bond covering €35bn in RMBS loans and its work for Société Générale on the ABS leasing and residual value transaction of ALD. The driving force of the business, however, was Dr. Martin Kaiser, who moved to Ashurst in September. His departure was a heavy blow, esp. as Munich salary partner Dr. Matthias Eggert had already left the practice in spring 2016 to join Dentons. The firm has now bolstered its team with a counsel active on the interface with bank regulatory law from Allen & Overy.
Development potential: The team is now spread thinner than ever and the practice must rebuild its headcount if it is to assert itself in the market.
Practice: Emphasis on true-sale securitizations of various asset classes. Strong focus on auto loans. Advice to banks and (Mittelstand) issuers. Advice on debt issues. (1 partner, 1 counsel, 2 associates)
Clients: ?? Société Générale on ABS leasing and residual value transaction of ALD and on ABS transaction for BDK; DBRS on structured covered Deutsche Bank bond covering €35bn in RMBS loans; VW Financial Services on ABS transaction; CRX Markets on supply chain finance programs for Nestlé.
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