"Ranked Leading Individual for Derivatives and Structured Products (Legal 500, 2010-2018); Legal 500 Hall of Fame 2018; Band 1 Lawyer for Structured Finance and Derivatives (Chambers UK and Global 2014-15); and nominee for Derivatives Lawyer of the Year 2014 (Global Capital)"

概述

Edmund "Ed" Parker is a partner and global practice head of Derivatives & Structured Products at Mayer Brown and previously served on the Firm's partnership board. Ed’s work covers all aspects of derivatives at the highest levels. He has been nominated as Global Derivatives Lawyer of the Year, a reflection of his technical excellence in this field.

He is a trusted thought leader for both clients and the profession, writing extensively on derivatives matters. Under his stewardship, the team was declared Global Law Firm of the Year – Overall at the 2019 GlobalCapital Derivatives Awards. The practice was previously declared European Law Firm of the Year – Transactions in 2018 and 2017; and Americas Law Firm of the Year – Overall in 2019 and 2018. The practice was also commended in the “Complexity and Scale” category of the FT Innovative Lawyers Report: Europe in 2018.

Ed advises on complex OTC and structured credit, equity, fx and commodity derivatives, as well as insurance and pensions-linked derivative structures. He advises on distressed derivatives, together with our litigators and insolvency colleagues; as well as advising on central clearing issues and derivatives regulation, together with our regulatory team. (see Experience).  He has notable experience in global initial margin regulation projects related to EMIR and other regimes, and large projects driven by regulation.

Consistently ranked as a key individual and receiving strong market praise from the legal directories (see Accolades), the most recent sources say that he is "very responsive and diligent, has good attention to detail, and is great to deal with." He is well known for his derivatives expertise and is frequently instructed on high-profile matters.” (Chambers UK 2019) and a “high profile partner” (Chambers Global 2019). He “enjoys a reputation as one of the City's leading lawyers. Clients appreciate his "unrivalled breadth and depth of knowledge across all asset classes," and regard him as one of the lawyers who knows the most about derivatives - he wrote the book on them."” (Chambers UK 2015). Ed is also described as "very user-friendly and very easy to deal with," with the same source adding that "he really knows his stuff" (Chambers UK 2014) and is "a leader in his field" (Legal 500 2013). Legal 500 2013, quoted market sources describing the Derivatives and Structured Products practice as "A fantastic alternative to the Magic Circle"; and that his practice "has its finger on the pulse with ISDA and transatlantic regulatory work"; and provides "military-style turnaround, good value and a deep bench". Clients "use his encyclopaedic knowledge of derivatives and general banking law to sound new ideas and concepts” (Chambers UK 2017).

Ed has written extensively on derivatives matters (see Perspectives & Events). He is the industry’s most widely published lawyer on the subject, with his views regularly sought by the press and on television. His written works include an acclaimed five books derivatives books. Two of these are as sole author: Credit Derivatives: Documenting and Understanding Credit Derivative Products, published in 2007; and Credit Derivatives: Understanding and Working with the 2014 ISDA Credit Derivatives Definitions, published in 2017. He was sole editor of Equity Derivatives: Documenting and Understanding Equity Derivative Products, which published in 2009. He was co-editor Commodity Derivatives: Documenting and Understanding Commodity Derivative Products, which published in 2010; and of Practical Derivatives: A Transactional Approach, which published in 2017; and contributed multiple chapters to each of the edited books. Ed is fluent in Spanish and is also a co-head of the firm’s India practice.

语言能力

  • 英语
  • 西班牙语

执业经验

EMIR & Global Margin: IM & VM Experience

  • Representing one of the leading custodians and derivatives collateral managers, advising on compliance with the European and US regulations on margining of uncleared derivatives, providing expert guidance and project management to our client on all of the issues it encounters throughout Phase Three, and also Phases Four and Five of the Initial Margin process. This work includes the preparation of master templates; drafting the playbook; and advising on the associated outreach and account control agreement negotiation processes. The work also included drafting opinions relied on by the market.
  • Representing one of the leading custodians and collateral managers, with respect to its Brexit planning strategy relating to the bank’s triparty collateral segregation business, to ensure that the client can provide its services following departure of the UK from the European Union.
  • Advising the global Zurich group in respect of its compliance with the new obligations under the European Market Infrastructure Regulation (EMIR), clearing documentation, risk mitigation obligations, and any inter-group exemptions and new margin requirements.
  • Assisted BT Pension Scheme, one of the largest UK pension schemes, with the implementation of the new margin rules under EMIR. This included advising the client on the possible approaches to compliance and negotiating all relevant documentation on their behalf with a with a number of market counterparties.
  • Advising a Phase I Canadian dealer on its compliance with the US and European regulations on margining of uncleared derivatives. The Phase 1 dealer was required by US, Canadian and EU rules to have compliant documentation for posting/receiving initial margin with all other ‘Phase 1’ dealers and variation margin with all other financial entities by the 1 Sept 2016 and 1 March 2017 regulatory deadlines respectively.

Credit Derivatives/Synthetic Securitisation

  • Representing Mexican subsidiary of a Spanish bank on the synthetic securitisation of a portfolio of Mexican SME Loans through a guarantee structure. This sophisticated structure used credit derivatives technology to provide regulatory capital relief to the bank. The counterparty was a multilateral institution. This is a highly-complex matter, requiring deep technical knowledge of derivatives to facilitate the synthetic securitisation of the loan portfolio. This was the first deal of its kind successfully executed in Mexico.
  • Acting for leading US investment bank in relation to all credit events affecting corporate reference entities in its structured products portfolio over a 10 year period. The client benefitted from our London/New York based resource to provide joined up advice in this area. Leading a team of six lawyers in New York and six lawyers in London are advising the bank on the highly complex settlement process for credit events across a portfolio which includes synthetic CDOs, repackaged notes, unfunded credit derivatives and CDO squared transactions. We were recognised by Futures and Options (FOW) in 2010 as the market leader in distressed derivatives, winning their 'Most innovative work by a law firm in the field of exchanged-traded or centrally cleared derivatives' award' for this instruction.
  • Represented Raiffeisenbank a.s. on a synthetic securitisation and CDO referencing its loan portfolio. The portfolio size was EUR 1 billion with a related issue of EUR 77 million credit linked notes by ROOF RBCZ 2015 S.à r.l.

Equity Derivatives

  • Advising a Swiss bank, as investment manger of an Irish listed UCITs fund, on the legal and regulatory aspects with respect to the establishment of a multi-bank derivatives platform to trade a wide range of structured products including equity index-linked swaps and FX spot and forward products.‎
  • Advising German bank in relation to a total return swap (TRS) with Swiss institution with a notional amount of EUR 300 million, referencing a custom basket of exchange traded funds.

Commodity Derivatives

  • Advising four of the leading financial institutions on their establishment of Commodity Derivatives Metals Leasing Documentation Platforms. The advice included drafting commodity derivatives documentation platform to facilitate metals leasing. These structures were particularly innovative, as they involved our clients retaining title to the underlying metals, to allow superior regulatory capital treatment.
  • Advised global industrial company, the Klesch Group, on the €450m refinancing of the Heide Refinery in Germany by Barclays, using an innovative structured finance arrangement heavily based on commodity derivatives.

Structured Finance

  • Advising a German bank on a US$500 million issuance of secured notes, forming part of a complex repo structure, together with a repeat €250 million issuance.
  • Advised leading Turkish Bank Yapi Ve Kredi Bankasi A.S.on the establishment of a structured notes programme and the structured issuance of US$500 million notes. Backed by diversified payment right notes issued by Yapi Ve Kredi Bankasi A.S. which were also drafted by Mayer Brown involving a complex total return swap and basis swap arrangement. This transaction followed a similarUSD 1.1 billion transaction in 2014 (and tapped in 2015) where we acted for Turkiye Garanti Bank.
  • Representing Turkiye Vakiflar Bankasi A.S. in connection with a EUR 500 million first ever covered bond issuance by a Turkish bank. The team in London assisted the bank with the related hedging arrangements which involved complex front and back swap arrangements aimed at eliminating any Turkish lira convertibility risk for the covered bondholders. We also had to ensure compliance of the transaction documentation with the criteria established both by the Turkish Capital Markets Board and Moody's. The transaction was awarded International Bond Deal of the Year and Financial Institutions Financing Deal of the Year for 2017.
  • Arranger's counsel to German bank in structured derivatives arrangement involving a combination of repo, note issuance and total return swap transactions with French bank and its structured issuance vehicle. The transaction involved complex netting issues under English, French and German law, and large portfolio of repo assets, and a note issuance of EUR 550 million.

Insurance-Linked Arrangements

  • Representing leading insurance company in derivatives risk transfer transaction relating to a large portfolio of equity release mortgages. This innovative transaction, structured as an OTC derivatives, with a term of over 35 years, provided capital relief to one of the largest providers of equity release mortgages in the UK.
  • Advising the Initial Purchasers in relation to Lion I Re Limited, a EUR 190 million Catastrophe Bond, by Generali Group. This was the first fully Rule 144A compliant securitization of European windstorm risk on an indemnity basis.
  • Advising the Initial Purchasers in relation to Horse Capital I DAC an EUR 255 million structured financing arrangement structured as a Rule 144A cat bond, by Generali Group protecting against a deterioration of its MTPL (motor third party liability) loss ratio across seven jurisdictions.
  • Advising multiple leading insurance companies in over 10 transactions on insurance wraps of regulatory capital requirements in securitisation structures. These transactions provided insurance to alleviate the regulatory capital requirements which arranging financial institutions are required to hold against liquidity facilities and swaps in CMBS. The insurance wraps use derivatives technology, and require strong expertise in diligencing and advising the insurer on the underlying risks, and regulatory capital arrangements in these arrangements.

Hedging Arrangements

  • In relation to the Myingyan Power Project in Myanmar, advising the lenders to Sembcorp, the successful bidder with respect to the Myingyan 225MW gas-fired power project, Myanmar’s first internationally competitively tendered power project, on the hedging aspects of the transaction. Mayer Brown’s advice was commented on in the Financial Times, Asia-Pacific Innovative Lawyers 2017 Report, in relation to “Legal Expertise: Managing Complexity & Scale (International).”
  • Advising Canary Wharf Group plc on the hedging aspects of a £700M refinancing of loan facilities secured over its retail portfolio at Canary Wharf in London’s Docklands. The new loan, was one of the largest made available in the UK real estate debt market in 2016, was provided by a syndicate of eight lenders.
  • Advising Canary Wharf Group plc on the hedging aspects of a £348 million development loan made available by a syndicate of lenders for the construction of the Newfoundland tower at Canary Wharf.
  • Advising Gaw Capital Partners and a consortium of Asian investors on the hedging aspects of the acquisition of Exchange Tower in London’s Docklands for £191 million.

Jurisdictional Surveys

  • Coordinating a cross-border survey of 34 jurisdictions, on behalf of a leading Custodian relating to the bank's securities lending activities (both in respect of its agency business as well as its principal trading). This was a big project for the bank which aimed to ensure that they are fully compliant with all applicable laws across all relevant jurisdictions. We now continue to advise the bank in this are on an on-going basis.

India

  • As part of India Practice Group, advising Houghton International Inc. on its approximately $1.4 billion acquisition by Quaker Chemical Corporation from Gulf Oil Corporation Ltd., the India-based lubricants division of the international conglomerate Hinduja Group.

Litigation & Restructuring

  • Part of the team acting for investment bank and asset management arm in a multi-party dispute with a value of more than $300 million arising from a series of complex structured products (bespoke single-tranche collateralised debt obligations) entered into by a municipally-owned company, resulting in a 14 week trial in the Commercial Court in London.
  • Advised monoline insurer in a complex restructuring of credit default swap arrangements on underlying asset backed securities. The swap size was £450 million, as part of a £2 billion restructuring.

教育背景

The College of Law, London, Legal Practice Course

Queen Mary, University of London, LLM, International Business Law

Dundee University, LLB, (Hons)

执业资格

  • 英格兰和威尔斯

会员资格

  • Assistant to the Court of the Worshipful Company of Solicitors of the City of London
  • Liveryman, Worshipful Company of Solicitors of the City of London
  • Granted the Freedom of the Worshipful Company of Solicitors of the City of London
  • Granted the Freedom of the City of London
  • Member of PLC Finance (Practical Law Company) consultation board. Practical Law Company (PLC) is the leading provider of legal know-how, transactional analysis and market intelligence for lawyers. The consultation board comprises leading experts in Finance and related areas. They help to shape the service and are consulted on complex areas of law and emerging practice. Visit: http://finance.practicallaw.com/6-201-8986

Consistently ranked as a key or leading individual by the legal directories

  • Listed in the 'Hall of Fame' for Derivatives and Structured Products (Legal 500 2020).
  • Listed as a 'Leading Individual' for derivatives, Edmund Parker has an "encyclopaedic knowledge of derivatives and ISDA,"  according to interviewees, who also praise his ability to "distil and explain really complicated structures to a layperson without difficulty." He is a leading derivatives expert, equally capable of advising on deal structuring and assisting on regulatory issues. (Chambers UK 2020).
  • Clients report that Edmund Parker is "very responsive and diligent, has good attention to detail, and is great to deal with." He is well known for his derivatives expertise and is frequently instructed on high-profile matters. (Chambers UK 2019).
  • Global head of derivatives and structured products Ed Parker is "extremely knowledgeable about ISDA documentation". (Legal 500 2018).
  • Edmund Parker is "highly professional and incredibly knowledgeable in derivatives and regulatory services," according to one client, who adds that "he is pragmatic and approachable and very straightforward to deal with." He has considerable expertise handling complex OTCs and pensions-linked derivatives structures. (Chambers UK 2018).
  • "Ed Parker has built a real alternative to the A&Os/Linklaters of the world. I feel real confidence instructing Ed and his team. Ed always has an answer to the most difficult questions and his team are on top of all aspects of a transaction - they work really hard for you and charge reasonable fees which is appreciated.”
    “Vast encyclopaedic knowledge of derivatives and an ability to be on top of all aspects of a transaction. No weaknesses as far as I'm concerned given if Ed is too busy, the team he's built can still provide the same level of service.” (IFLR1000 2017).
  • Ed Parker is "professional and incredibly knowledgeable in derivatives and regulatory services, as well as pragmatic, approachable and very straightforward". (Legal 500 2017).
  • Edmund Parker heads the firm's global derivatives and structured products group. Clients "use his encyclopaedic knowledge of derivatives and general banking law to sound new ideas and concepts. He always has a view, feels comfortable giving clear and straightforward advice and many times comes up with a better way of looking at, and executing, an idea." (Chambers UK 2017);
  • Chambers UK 2016 ranks 30 Mayer Brown practices and 47 lawyers.
  • "very knowledgeable" (Legal 500 2015);
  • Edmund Parker, head of the London office's derivatives and structured products team, enjoys a reputation as one of the City's leading lawyers. Clients appreciate his "unrivalled breadth and depth of knowledge across all asset classes," and regard him as "one of the lawyers who knows the most about derivatives - he wrote the book on them." (Chambers UK 2015);
  • Nominated as "Derivatives Lawyer of the Year" at the 2014 Annual Global Derivatives Awards hosted by Global Capital;
  • Ranked as a Leading Individual for Derivatives and Structured Products by Legal 500: 2010-2015;
  • He has "extensive product knowledge and cross-border experience" (Legal 500 2014);
  • Ranked as a Band 1 lawyer for Structured Finance and Derivatives by Chambers 2014;
  • Ranked as a Selected Leading Lawyer for Derivatives, IFLR 1000, 2014, 2015;
  • Sources describe him as "very user-friendly and very easy to deal with," adding that "he really knows his stuff." (Chambers UK 2014);
  • Sources enthuse over Ed Parker's "encyclopaedic knowledge of all things ISDA. Whatever the transaction thrown at him, he knows the technical points inside out." (Chambers UK 2013);
  • "a leader in his field" (Legal 500 2013);
  • He "is an authority on complex OTC derivatives, property and commodity derivatives” (Chambers UK 2012);
  • His "encyclopaedic knowledge means he knows the technical points inside out" (Legal 500 2012);
  • He is "willing to go the extra mile and gives clear, commercially focused advice" (Legal 500 2011);
  • He "offers excellent levels of service, he has done a great job pushing the practice to the forefront among London firms" (Legal 500 2010);
  • He embodies its "fair, objective and rigorous approach" and “is well liked throughout the industry” (Legal 500 2009);
  • He "would easily fit into any top-tier derivatives practice" and "has great expertise" (Chambers UK 2009).