Banking and Finance News
Quinn Emanuel Urquhart & Sullivan and Swiss firm Niederer Kraft & Frey have advised BSI, the first Swiss bank to reach a deal with the US Department of Justice (DoJ) over allegations of helping clients evade tax.
Freshfields Bruckhaus Deringer has continued to bolster its Asian practice by hiring from magic circle rival Linklaters, this time taking a Beijing banking and finance partner for its Hong Kong office.
Hogan Lovells has launched an office in Australia with the hire of partners Nicky Lester and Tim Lester from Linklaters’ best friend firm Allens.
Ashurst and Slaughter and May have advised on the $30bn (£20.8bn) sale of RBS’ private banking and wealth management business Coutts International to Union Bancaire Privée.
OneSavings Bank (OSB) has appointed a new head of legal as it names 12 firms to its first formal legal panel of external advisers.
Barclays’ general counsel for Asia Pacific Simon Croxford is replacing Erica Handling as general counsel for Europe and Middle East (EME) investment.
Allen & Overy (A&O), Linklaters and Herbert Smith Freehills (HSF) were drafted in to advise on the £1.7bn sale of TSB, Britain’s seventh-biggest bank, to Spanish bank Banco Sabadell, which was accepted this morning (20 March 2015).
Allen & Overy’s (A&O) US corporate finance head Jim Wickenden has quit the firm, to be replaced by London-based partner Kevin Muzilla.
The Bank of England (BoE) has hired Competitions and Markets Authority (CMA) director of enforcement Sonya Branch to replace Graham Nicholson, who will retire at the end of April.
Banking and Finance Briefings
Have you or your client had an accelerated payment notice from HMRC? download subscription
If so, it is important to act quickly to ensure you keep your options open
Funds in Switzerland: getting the deal through download subscription
The Collective Investment Schemes Act underwent a major revision in 2013. The transitional provisions relating to this ended last month.
Bonuses in the spotlight: caps and clawbacks download subscription
It seems the bonus cap has led to employers in the financial services industry paying higher basic salaries and there are likely to be further developments relating to clawback in the near future.
Banking and Finance Analysis
The pressure on in-house lawyers in the financial services sector is growing as banks face up to new challenges such as greater regulatory scrutiny.
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Banking and Finance Opinion
The revelation by Tesco that it had overstated its trading profits by £250m wiped £2bn off its market value in one day.