Elizabeth Raymond is an M&A senior counsel and co-head of the Financial Institutions M&A and Fintech groups. She focuses on M&A for financial institutions, including commercial and investment banks, finance companies, insurance companies, asset managers and broker-dealers, and private equity and hedge funds that invest in financial service businesses. She works closely with the firm’s Banking & Finance, Financial Services Regulatory & Enforcement and Technology Transactions practices to provide the financial product and transaction experience that is central to financial institutions. She has a thorough understanding of the underlying financial products and services of financial institutions, including the structures, risks and regulatory issues that relate to these financial products and services, and the intersection of financial products and technology. Her recent transactions include domestic and international purchases and sales of, and investments in, businesses relating to commercial finance, auto finance, mortgage origination and servicing, online auto and consumer lending, unsecured consumer lending, credit cards, and insurance brokerage and services.
Elizabeth has also been heavily involved in Mayer Brown’s management, and currently serves as a Corporate Practice Leader. She served on the firm’s governing Policy & Planning Committee (2004-2009). She has also been a member of Partner Promotion Committee (1998-2004) and the Committee on Associates and Counsel (1993-2004), serving as co-chair from 2001 to 2004.
Areas of Focus
- Represented TD Securities in the acquisition of Kimberlite Group, LLC, a strategic real estate advisory and private capital raising firm.
- Represented a large global bank in negotiating a loan origination services agreement with a fast-growing online lending company focused on financing for small business.
- Represented Ally Financial and Ally Bank in a partnership with Better.com, a digital mortgage and home financing provider, to create a new end-to-end digital experience for consumers looking for a mortgage loan from Ally. Additionally, we represented Ally Ventures in a $10 million preferred equity investment and a warrant to acquire an additional $4 million of preferred equity in Better.com’s Series C funding, significantly increasing Ally’s overall ownership in the company. In this two-fold relationship, the online-only bank will combine capabilities with Better.com to further Ally's position as a leading digital financial services company.
- Represented HSBC Bank USA in negotiating a loan origination services agreement with Avant, LLC, a leading online marketplace lending company, including customization and implementation of a white-labeled version of Avant’s Amount lending platform for HSBC.
- Represented Wells Fargo & Company in its $1.75 billion sale of certain commercial and retail auto loans in Puerto Rico from the loan portfolios of its Reliable Financial Services and Reliable Financial Holding Company subsidiaries to Banco Popular de Puerto Rico. Banco Popular also acquired certain other assets relating to Reliable's auto financing business.
- Represented Wells Fargo in the sale of its commercial insurance brokerage business, Wells Fargo Insurance Services USA and Safehold Special Risk, to USI Insurance Services LLC.
- Represented American Express in the sale of its prepaid reloadable and gift card products business in the United States to InComm, Inc., and in Amex’s appointment of InComm as its program manager, issuer processor and exclusive distributor for its reloadable and gift card products.
- Represented BMO Harris Bank in the sale of its trust outsourcing services business to a subsidiary of Fidelity National Services, Inc. and its entering into a long-term trust outsourced services agreement with Fidelity Information Services, LLC.
- Representing Wells Fargo & Company in its $32 billion acquisition of the commercial distribution finance and vendor finance business of GE Capital Corporation.
- Represented Broadhaven Capital Partners, LLC, as financial advisor to CBOE Holdings, Inc., in CBOE's $3.2 billion acquisition of Bats Global Markets, Inc., the Kansas-based global stock exchange operator.
- Represented Ally Financial Inc. in the acquisition of the assets of BlueYield, Inc. and BlueHarbor, LLC, providers of online automobile loan aggregation services.
- Represented Santander Consumer USA in the sale of assets from its personal lending portfolio to an undisclosed buyer. The portfolio was comprised of installment loans with an unpaid principal balance of approximately $900 million.
- Represented a foreign investment fund manager in its investment in a US investment management company focused on residential mortgage loans and securities and an affiliated residential mortgage loan servicer and wholesale loan originator.
- Represented BMO Financial Group in the sale of its US-based retirement services business, BMO Retirement Services, to OneAmerica Financial Partners, Inc.
- Represented Ally Bank in the $556 million sale of a portfolio of residential mortgage loans to DLJ Mortgage Capital, Inc., a subsidiary of Credit Suisse Group AG.
- Represented Ally Bank in the sale of its portfolio of performing and non-performing student loans to Southern Arc Trust, a newly formed subsidiary of Credigy Investments LLC.
- Represented Wells Fargo Insurance Services in the sale of 42 regional insurance brokerage and consulting locations to a subsidiary of USI, Inc., the fourteenth largest insurance broker in the world.
- Represented HSBC Finance Corporation in the $3.2 billion sale of its personal unsecured loan and personal homeowner loan portfolios and a related loan servicing facility to SpringCastle Acquisition LLC, a Delaware-based company owned by Springleaf Finance, Inc. and Newcastle Investment Corp.
- Represented Wells Fargo & Company in its acquisition of WestLB AG’s subscription finance portfolio, which contains approximately $6 billion in commitments (approximately $3 billion outstanding).
- Represented Ally Financial Inc. as the initial stalking horse bidder in its $1.6 billion bid for a portfolio of mortgage loans and various other assets from Residential Capital, LLC in connection with ResCap’s filing for Chapter 11 reorganization.
- Represented Angelo Gordon & Co. in its sale of Dealer Services Corporation, a leading US-based automotive inventory (floorplan) financing company, to Manheim Inc., which specializes in auction services for registered automobile dealers.
- Represented Ocwen Financial Corporation and its wholly-owned subsidiary, Ocwen Loan Servicing, LLC, in its $1.3 billion acquisition of the US mortgage servicing business, HomeEq Servicing, from Barclays Bank PLC.
- Represented Ally Financial Inc. (fka GMAC Financial Services) in the sale of the European mortgage assets and businesses of its subsidiary, Residential Capital, LLC, to affiliates of certain funds managed by affiliates of Fortress Investment Group LLC.
- Represented TIAA-CREF in its acquisition of Kaspick & Company, which specializes in the management and administration of planned gifts.
Financial Services Forum
Aligning Innovation with Evolving Corporate Strategy
13th Annual Technology and Innovation Conference: Doing Business in a Connected World
Princeton University, BA, summa cum laude
University of Cambridge, Clare College, MA
New York University School of Law, JD
- New York
- Trustee, The Goodman Theater
- Member, Saint Chrysostom's Church