The Global Derivatives Interest Group is delivering the Firm’s vision of having a top tier, cross-jurisdictional and highly profitable global derivatives offering, recognized by clients and competitors alike.

Led by London Capital Markets partner Ingrid York, the interest group is forging an ever-increasing reputation for innovation and excellence.

“It’s an exciting, dynamic and innovative practice,” she says. “We’re truly global, with people in offices across the world serving an equally diverse client base on a wide range of leading-edge matters.”

The Global Derivatives Interest Group is made up of a core leadership team of six partners and two counsel from a broad spectrum of regions, supported by around 30 lawyers and Business Services professionals.

The group has extensive experience in providing guidance relating to the full range of derivatives transactions and related regulatory concerns. Its experience advising on derivatives and innovative structured products is extensive.

The group handles the negotiation, documentation, structuring, development and restructuring of a broad spectrum of complex derivative products, including: derivatives in both the OTC and exchange-traded markets; the negotiation of ISDA Master Agreements, Credit Support Annexes and local law trading agreements; repurchase agreements, securities lending agreements and total return swaps; interest rate, currency, equity and credit derivatives; sustainability-linked derivatives; synthetic investment opportunities in derivative transactions and credit enhancers; commodity derivatives including on energy, metals and natural gas products and carbon credits; and all varieties of structured notes and repackagings.

Head of the group in the US, New York Capital Markets partner Ian Cuillerier, says: “If I had to sum up this team in a few words it would be broad-based, cross jurisdictional and integrated.

“From its very inception, we’ve been working on transactions having a number of different ‘underlying’ references (commodities, fixed income, rates, etc.) and, while we reach across multiple jurisdictions and offices, we’re very integrated, sharing best practice and working together, both in our area and with the wider Firm.”

Notable derivatives clients include BNP Paribas, Societe Generale, Morgan Stanley, Citibank, Credit Agricole Corporate and Investment Bank, European Investment Fund, the United Nations, Credit Suisse, Deutsche Bank, PIMCO, Central Bank of the United Arab Emirates, ADM Capital, Arroyo Energy Investment Partners, AVANGRID, Inc., Bangkok Bank Public Company Limited, Calpine Energy, Charoen Pokphand Group, China CITIC Bank, , Gaw Capital Partners, ING Capital LLC, Intesa Sanpaolo S.p.A., Investec, Ivanhoe Mines Ltd., LS Power, Mondelēz International, Inc., MUFG Bank, Ltd., PAG, Sumitomo Mitsui Banking Corporation, The Bank of Nova Scotia, The Hertz Corporation, Vista Ridge LLC and VPC Impact Acquisition Holdings.

Ingrid says: “Our global expertise and ability to provide a seamless cross-border and cross-practice client experience is what sets us apart. That means we can provide superior coverage to a diverse range of top clients on both international and local derivatives issues.

“We provide a full-service team with extensive regulatory and transactional expertise, provided by specialist lawyers across interrelated practices.”

Another recent highlight showcased the group’s ability to pioneer into new territory. Ingrid says: “We recently advised Bank of America in relation to the establishment of their environmental social governance (ESG) derivatives business, supporting them in the build out of a brand-new area for derivatives.

“They chose us because of the depth of our expertise in the United States, the UK, France and the EU, something that sets us apart from our competitors.

“It was a fantastic recent example of a seamless cross-office, cross-discipline project in a ground-breaking area, and Bank of America has just come back to us again to update the same advice for ESG repurchase transactions and also ESG derivatives into Japan.”

Indeed, the depth of the Firm’s derivatives knowledge across multiple regions is one of the biggest strengths of the group. Hong Kong-based Counsel Nate Crowley says: “We’re a really nimble, cross-jurisdictional team that brings together expertise in the US, Europe and Asia Pacific.

“We’ve been helping clients all over the world with LIBOR transition for products, currencies and jurisdictions, while our ESG work has developed at different speeds in different markets.

“Having such a depth of knowledge across different markets really feeds into the exciting transactions we’re doing. It’s something our clients really value.”

It’s not only our clients who have recognized the excellence of our Derivatives offering. Our reputation is also reflected in consistently strong rankings for both individuals and teams in the leading legal directories, Chambers and Legal 500.

Ingrid says: “The calibre of our clients and the awards we win for our work and our people illustrate the amazing work we do.

“We’re a boutique group and I’m extremely proud that we consistently punch well above our weight.”

Recent awards and recognition include:

• Trailblazing Sustainable Leader at the FT Innovative Lawyer Awards 2021, Ingrid York
• Women, Influence and Power in Law Awards Class of 2021, Law.com, Ingrid York
• Women in Business Law Guide 2020, Legal Media Group, Ingrid York
• Member of the Panel of Recognized International Market Experts in Finance (P.R.I.M.E. Finance), Ian Cuillerier
• Innovation of the Year and an honourable mention in the Impact Deal of the Year category at the SCI Capital Relief Trades Awards 2019

The team is also working hard to build the Firm’s reputation as a thought leader on derivatives.

One example is Ingrid York’s membership of the Taskforce on Scaling Voluntary Carbon Markets, a private sector initiative established by the former head of the Bank of England, Mark Carney. She is also a member of the City of London Voluntary Carbon Markets Forum.

Ian was recently appointed chair of the Futures and Derivatives Committee of the New York City Bar Association for a three-year term. He is also on the organizing committee of the annual conference American Bar Association’s Futures & Derivatives Committee as well as being an active contributor to ISDA, Frontclear BV, and the Central American Bank for Economic Integration (CABEI).

In addition, Counsel Nathaniel Crowley and Associate Charles Linel were both invited to take part in the ISDA Future Leader’s Programme and members of the core team are active participants in various industry groups including ISDA, the American Bar Association, the Futures Industry Association, and the Association for Financial Markets in Europe (AFME).

The team is also striving to raise its profile internally, with Ingrid and Ian recently completing a roadshow of multiple practices to explain how the Global Derivative Interest Group can assist colleagues and clients.
Ingrid says: “We pride ourselves on being integrated with the Firm’s practices.

“We often provide derivatives advice internally to a wide range of practice groups including Debt Finance, Capital Markets, Disputes, Restructuring and Insolvency, Regulatory, Corporate M&A, and EIPAF on various types of financing matters.

“We regularly work very closely with all our finance and litigation practices on a huge volume of work. I’d say we’ve worked with nearly every one of the Firm’s offices over the past 12 months.

“So much of our work comes from the network and as such our relationship with other parts of the Firm is vital.

“My message to all our practice groups is: ‘We’re here to help you and your clients, so please get in touch if you want to find out more’.”

Readers can contact the team using the contact details on Connect.