Banking and finance

Shearman’s EMEA head to leave firm

Ward McKimm, Shearman & Sterling’s European and Middle East regional managing partner, is leaving the firm less than two months before its Allen & Overy tie-up goes live. A statement from Shearman and McKimm read: “Shearman & Sterling and Ward McKimm jointly confirm that, after a nearly-30 year career as a leading high-yield and leveraged […]

Kirkland set to hire A&O finance partner

A member of Allen & Overy’s City finance team is set to leave the firm for Kirkland & Ellis, having joined the magic circle firm over a year ago. Capital markets specialist Marwa Elborai is making the move to Kirkland. She joined A&O in January 2023 having moved across from Shearman & Sterling after 16 […]

Nationwide Building

Slaughters and Clifford Chance lead on Nationwide’s Virgin Money deal

Slaughter and May and Clifford Chance have lined up for Nationwide’s proposed acquisition of Virgin Money UK. Slaughters partner David Watkins acted for the buyer, Nationwide. Meanwhile Clifford Chance acted for Virgin Money. The team is being led by partners Katherine Moir and David Pudge, with support from employment partners Sonia Gilbert and Chinwe Odimba-Chapman, […]

Zilch

Revolut lawyer joins Zilch as new GC

Payment platform Zilch has recruited its new general counsel from Revolut. Amy Sandys will assume her first general counsel role at Zilch, after working as head of legal, corporate, at the banking app company. The new general counsel will take over from Natalie Salunke, who left the business in January 2024. Salunke joined Zilch in […]

Linklaters set to lose leveraged finance co-head to Gibson Dunn

The latest in an ongoing series of partner losses for the magic circle firm, Linklaters’ co-head of leveraged finance is poised to move to Gibson Dunn & Crutcher. David Irvine is set to join the US firm’s London team just three years after returning to Linklaters.  Irvine had spent the first 14 years of his […]

Banking & Finance Briefings

Angola: Granting credit in the real sector of the economy

The new Notice establishes (i) the terms and conditions applicable to the this type of credit, (ii) the minimum requirements in terms of number and total value and (iii) the treatment in the calculation of the reserve requirements.

FCA gives a nod to greater diversity on boards

The Financial Conduct Authority (FCA) has recently published an updated policy statement to amend the Listing Rules and Disclosure Guidance and Transparency Rules in respect of diversity on company boards and executive committees, as well as making final amendments to the FCA handbook.

Bitcoin dispute gives insight into English court’s approach

A company operated by a man claiming to be Satoshi Nakamoto, the pseudonymous author of the white paper ‘Bitcoin: A Peer-to-Peer Electronic Cash System’, has had service of its claim form set aside in proceedings concerning bitcoin said to be worth approximately £3 billion.

The FCA delivers its most aggressive strategy yet

In April 2022 the FCA launched a three-year strategy (Strategy 2022 to 2025) (Strategy), in the hope of delivering better outcomes, and its 2022/23 Business Plan. In this Insight, Sushil Kuner, a Principal Associate in the Financial Services Regulatory team, summarises the key themes of the Strategy, highlighting how the FCA’s approach appears to be its most aggressive yet.

IOSCO reaffirms its 2013 ETF Principles and consults on good practices

The IOSCO consultation report, published on 6 April 2022, represents the output of a five-year long collaboration between regulators of major global ETF domiciles focussed on two broad themes, namely the effective functioning of the primary market and appropriate disclosure to investors, and is set against the backdrop of significant ETF growth, in-depth market studies and stress events.

Using green loans to retrofit your buildings

As businesses come under increasing pressure to acknowledge and improve their environmental impact, there’s a growing need to make commercial properties greener.

Ireland: Fitness and Probity regime – Changes to PCF roles

On 5 April 2022, the Central Bank of Ireland made further changes to its list of Pre-Approval Controlled Functions (PCFs) under its Fitness and Probity framework. These changes, introduced by amending regulations, are in addition to PCF role changes notified by the Central Bank in September 2022.