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Mayer Brown announces Global Financial Markets Initiative as next step in efforts to help clients deal with economic crisis

9 October 2008
Mayer Brown LLP, a leading global law firm, announced today a Global Financial Markets Initiative to integrate and expand the firm’s activities to help clients deal with legal and business challenges resulting from the ongoing turbulence in worldwide financial markets.

“Mayer Brown has been a market innovator in helping clients respond to the challenges posed by the economic crisis that began more than a year ago with the meltdown in the subprime lending market,” said Chairman James D. Holzhauer. “As the scope and geographic reach of the financial crisis has grown, Mayer Brown has repeatedly stepped forward with creative solutions to clients’ ever-expanding legal needs. We now are bringing together our efforts in the US, Europe and Asia to create a unified, firm-wide focus on these issues. We also are involving additional practice specialties to serve the full spectrum of needs that are emerging,” he said.

In October 2007, Mayer Brown became one of the first law firms to address the subprime lending crisis through creation of a Subprime Lending Response Team. Members were drawn from the firm’s offices in the US, UK and Germany and practices including securitization, banking, real estate, securities and litigation. As the credit crisis grew in scope and geographic reach, the group expanded its focus to encompass a wide range of credit-related legal issues and was renamed the Credit Market Distress Team.

With the continued expansion of the crisis beyond the credit arena and beyond US borders, Mayer Brown established the Global Financial Market Initiative to mobilize the firm’s resources across the entire spectrum of legal needs arising from the turmoil in the financial markets. Mayer Brown practices that are contributing to this effort include: Corporate & Securities, Finance, Financial Services Regulatory & Enforcement; Government & Global Trade; Real Estate; Restructuring, Bankruptcy & Insolvency; Securities Enforcement & Investigations; Securities Litigation; Securitization; Supreme Court & Appellate; Tax; and White Collar Defense & Compliance.

Current activities of Mayer Brown’s Global Financial Markets Initiative include:
  • Teleconferences featuring Mayer Brown partners discussing specific aspects of the financial crisis or providing an update on recent events and their implications for clients seeking to cope with the rapid developments in the credit and finance markets.
  • A new Mayer Brown Web site, Financial Market Distress Resources, that collects in one convenient location a wealth of current information about the financial market crisis at
  • Three new books authored or edited by Mayer Brown partners, attesting to the firm’s thought leadership on matters related to the financial market crisis: Credit Derivatives: Documenting and Understanding Credit Derivative Products, by Edmund Parker (London); Credit Market and Subprime Distress: Responding to Legal Issues, edited by Daniel T. Brown (Washington, D.C.) and Jon D. Van Gorp (Chicago), and written in its entirety by Mayer Brown partners; and Performing and Non-Performing Loan Transactions Around the World: A Practical Guide, edited by Joerg Wulfken (Frankfurt) and Simon Grieser (Frankfurt) with chapters contributed by several Mayer Brown partners.
  • Regular alerts, advisories and updates to keep clients apprised of current developments in the fast-changing global economic picture.
  • A Webinar series covering issues affecting financial institutions and related organizations, including dealing with distressed assets, regulatory matters and workforce pressures.
  • Creation of a new unit in London to address the specific needs of financial institutions, comprising lawyers experienced in complex financial transactions, restructuring, employment, pensions, tax, real estate, regulatory matters and banking litigation.
  • A dedicated phone line in London to facilitate response to inquiries from financial institutions.
  • Creation of a new group in Hong Kong to assist Asian clients with matters related to the turmoil in financial markets, which includes lawyers experienced in restructuring and insolvency, distressed assets, structured finance, securitization, private investment funds, regulatory enforcement and litigation, mergers and acquisitions and employment.
“With events moving at breakneck speed and potential legal exposure increasing exponentially, we have enhanced Mayer Brown’s ability to provide clients with timely and knowledgeable counsel across practice and geographic boundaries,” Mr. Holzhauer said

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