Comment: This recommended practice for banking and bank regulatory law is in the middle of a staff shakeup. Practice head Herring returned to an of counsel role; Behrens joined as lateral from Mayer Brown. Prior to this, competitors had noted a reduced market visibility, also shown by the fewer instructions and the focus on institute and product-specific advice. But the practice is riding the wave of regulatory work related to Brexit, though it is not optimally positioned in Germany to benefit to the full extent. Behrens joined the firm from Mayer Brown in early summer 2017 while practice group head Herring moved to of counsel status in May. Schaffelhuber has now also left the practice.
Strengths: Institute- and product-specific advice; large number of international clients.
Development potential: The firm needs a hard-hitting regulatory team in Frankfurt, continental Europe’s banking hub. For this restructuring to work, A&O will need a long-term, forward-looking staff and remuneration policy.
Recommended: Dr. Alexander Behrens, Frank Herring.
Practice: Investment company transactions, outsourcing, setup of branches, M&A; integrated funds advice (hybrids and Tier 1 products). Advice also on the Solvency Regulation, risk assessment and Internet trading. (3 partners, 10 associates, 1 of counsel)
Clients: ? German credit institute on reviewing compliance structure in 50 countries; mobility services provider on structuring payment app for parking fees; 4 international financial institutes on group structure concerning European business after Brexit and authorization procedure for EU passporting from Frankfurt; private Swiss bank on merger of subsidiaries and conversion of institute into branch; auto bank regarding efficiency under bank regulatory law.
  • Teilen