Edmund "Ed" Parker

He is a trusted thought leader for both clients and the profession, writing extensively on derivatives matters. Under his stewardship, the Firm's derivatives team has been declared Global Law Firm of the Year – Overall at the GlobalCapital Derivatives Awards; and "European Law Firm of the Year" and/or "Americas Law Firm of the Year" in 8 of the last 10 years. The practice was also commended in the “Complexity and Scale” category of the FT Innovative Lawyers Report: Europe.

Directory 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) and a “high profile partner” (Chambers Global).

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). 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) and is "a leader in his field" (Legal 500). Legal 500, quoted market sources describing the Derivatives and Structured Products practice as having “its finger on the pulse with ISDA and transatlantic regulatory work"; and provides "military-style turnaround, good value and a deep bench". Further directory feedback about Ed says clients "use his encyclopaedic knowledge of derivatives and general banking law to sound new ideas and concepts” (Chambers UK); ant that has a "vast encyclopaedic knowledge of derivatives and an ability to be on top of all aspects of a transaction." (IFLR 1000). He is one of only 15 lawyers in the Legal 500 London's "Hall of Fame" for Derivatives & Structured Products.

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; and Credit Derivatives: Understanding and Working with the 2014 ISDA Credit Derivatives Definitions. He was sole editor of Equity Derivatives: Documenting and Understanding Equity Derivative Products. He was co-editor Commodity Derivatives: Documenting and Understanding Commodity Derivative Products; and of Practical Derivatives: A Transactional Approach; and contributed multiple chapters to each of the edited books as well as many others. Ed is fluent in Spanish. Ed was President of The City of London Law Society (2024-25) and Master of The City of London Solicitors’ Company livery company (2024-25).

• Represented  a public-private impact investor on a Programme- with an EFSD backed guarantee facility enabling local financial institutions to extend credit to underserved MSMEs across Sub-Saharan Africa, the EU Neighbourhood, Asia, Latin America and the Caribbean. 
• Advised a global bank and its Uruguay-based subsidary on a USD 250 million credit protection transaction with IFC, encompassing risk-sharing arrangements, eligibility criteria and EU capital regulatory considerations.
• Acted for a London-based financial services firm in over 40 synthetic securitisation and SRT transactions in which various banks transferred the credit risk of their credit-linked note portfolios to third-party investors, primarily insurance companies, through collateralised guarantee arrangements in derivative format.  The transactions utilize a protected cell structure as borrower under facility agreements, with insurers providing credit protection to the lending banks. The borrower applies loan proceeds to purchase credit-linked notes, with interest payments funding insurance premiums. Mayer Brown serves as structured finance, derivatives and insurance counsel, advising on structuring, documentation and regulatory aspects across the programme.
• Advised an asset manager on its purchase of credit-linked notes issued by an SPV in Klarna's inaugural SRT transaction in 2022 and later repeat transactions. The transaction involved a complex replenishment mechanism for Klarna's portfolio of "buy now, pay later" loans, representing an early application of SRT technology to this emerging consumer finance asset class.
• Represented an European leading alternative investment manager on a series of synthetic securitisation and SRT transactions in which an asset manager acquired credit-linked notes in significant risk transfer structures from various banks. Mayer Brown served as buyer's counsel, advising on structuring, documentation and regulatory aspects across multiple transactions.
  

Credit Derivatives

• 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.

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.

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.

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.

• Edmund Parker is knowledgeable on derivatives, notably advising on international deal structuring. He is also widely experienced in derivatives regulations, with particular capabilities in initial margin loan regulations. "He knows his stuff." "He has excellent knowledge coupled with a practical approach to business." "He is very committed and is very pleasant to deal with." Chambers UK
• Listed in the 'Hall of Fame' and as a 'Leading individual' derivatives specialist Edmund "Ed" Parker 'makes difficult concepts easy to understand and is leading in his field' Legal 500
• Listed in the 'Hall of Fame' for Derivatives and Structured Products Legal 500
• 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
• 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
• Global head of derivatives and structured products Ed Parker is "extremely knowledgeable about ISDA documentation". Legal 500
• 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
• "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
• Ed Parker is "professional and incredibly knowledgeable in derivatives and regulatory services, as well as pragmatic, approachable and very straightforward". Legal 500
• 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
• "very knowledgeable" Legal 500
• 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
• 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. He has "extensive product knowledge and cross-border experience" Legal 500
• Ranked as a Band 1 lawyer for Structured Finance and Derivatives by Chambers UK
• Ranked as a Selected Leading Lawyer for Derivatives, IFLR 1000
• 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." Sources describe him as "very user-friendly and very easy to deal with," adding that "he really knows his stuff." Chambers UK
• "A leader in his field." Legal 500
• He "is an authority on complex OTC derivatives, property and commodity derivatives” Chambers UK
• He "offers excellent levels of service, he has done a great job pushing the practice to the forefront among London firms". He is "willing to go the extra mile and gives clear, commercially focused advice." His "encyclopaedic knowledge means he knows the technical points inside out". He takes a "fair, objective and rigorous approach" and “is well liked throughout the industry” Legal 500
• He "would easily fit into any top-tier derivatives practice" and "has great expertise" Chambers UK