Capital Markets 2017: Analysis

We highlight 819 capital markets practitioners in this chapter who stand out for their exceptional work handling debt and equity, structured finance and Islamic finance matters. 


Thought Leaders
1. René Bösch Homburger, Zurich
2. Philippe Weber Niederer Kraft & Frey, Zurich
3. António Soares Linklaters, Lisbon
4. Cormac Kissane Arthur Cox, Dublin
5. Carlos Osório de Castro Morais Leităo Galvăo Teles Soares da Silva e Associados Sociedade de Advogados, Lisbon
 The Thought Leaders are those individuals who received the highest number of nominations from peers, corporate counsel and other market sources this year. Our research has identified them as being truly outstanding practitioners and the very best in their field.

Leading Firms

Who's Who Legal does not list law firms, only individual lawyers. The leading firms are those in each region whose listed practitioners received the most total nominations in our research.

Multinational firm CLIFFORD CHANCE performs well this year with 30 practitioners nominated for their exceptional work in the field.
In London, regional managing partner David Bickerton continues to impress peers and clients alike, and is considered a leading capital markets practitioner.
Simon Sinclair is internationally recognised for his fantastic work handling regulatory matters, Eurobonds and convertible and exchangeable bonds.
Structured finance specialist Kevin Ingram focuses his practice on a wide array of related transactions, and is considered a first-rate capital markets lawyer.
José Manuel Cuenca is a well-known figure in the Spanish market, and wins praise for his highly respected banking and finance practice.
In Russia, Arthur Iliev is a brilliant lawyer known for his strong expertise in relation to public securities offerings and capital markets transactions.
Brussels-based Lounia Czupper is highly sought after by clients, who include both borrowers and lenders, seeking counsel on a wide array of capital markets matters.

We feature 30 individuals from ALLEN & OVERY in the region who stand out for their leading expertise in the space.
In London, Jonathan Melton is well versed in handling a range of debt capital market transactions and is recognised particularly for his work in emerging markets throughout the region.
Geoff Fuller is “very strong on the debt side” according to respondents, particularly regarding public sector debt matters.
Angela Clist is described by sources as “a refined and extremely knowledgeable practitioner”. One respondent effuses: “She is the best structured finance lawyer that I have come across.”
Christian Lambie also gains recognition for his work in the field. He focuses his practice on both restructuring and transactional capital markets work.
Lisa Curran in Italy focuses her banking and capital markets practice on derivatives work as well as regulatory and compliance matters for both domestic and international clients.
In Luxembourg, managing partner Henri Wagner is “a leading lawyer in the market”. He is frequently engaged by clients on mandates relating to debt and equity securities, repackagings and derivatives.

Full-service firm LINKLATERS boasts the foremost debt and equity team in the region, achieving an impressive 27 listings this year across the board.
In Lisbon, thought leader António Soares is “the best in the country” according to sources. He focuses his corporate finance practice on takeover bids, privatisations, restructurings and public offerings.
Fredrik Lindqvist is a well-known name in the Swedish market and is commended by peers who consider him a leading transactional specialist.
In London, Elaine Keats leads the equity and debt markets group and is recognised for her work on high-profile capital market transactions on an international level.
Lachlan Burn is a longstanding figure in the capital markets space. He is noted for his excellent work handling debt securities, derivatives and convertible bonds.
Global head of capital markets at the firm, Michael Voisin wins praise for his exceptional expertise handling structured finance matters including repackagings, investment fund products and regulatory capital raising.
Ben Dulieu wins praise for his first-rate capital markets practice and stands out for his strong regulatory knowledge.
Peter Waltz in Germany is also highlighted in this chapter and draws international recognition for his top-tier work in the space.

FRESHFIELDS BRUCKHAUS DERINGER achieves 18 listings this year.
Sarah Murphy co-heads the practice group in London. Having spent over 30 years working in the field, she is a firm favourite among clients for her invaluable experience.
Mark Strauch is a top-tier transactional lawyer who is experienced in handling a range of capital markets work. He has expertise across multiple industries from real estate and healthcare to financial institutions.
Friedrich Jergitsch in Austria is also recognised in this chapter, and is renowned for his exceptional work on debt capital markets matters.

Other Leading Individuals

We highlight individuals at other firms who also scored very highly in our research.


In Ireland, ARTHUR COX’s Cormac Kissane heads the firm’s finance team. He boasts “a stellar reputation” in the market, and impresses with his “great breadth of expertise”. 


At MORAIS LEITÃO GALVÃO TELES SOARES DA SILVA E ASSOCIADOS SOCIEDADE DE ADVOGADOS, João Soares da Silva coordinates the capital markets group, and gains recognition for his outstanding work handling related matters both in Portugal and internationally.
Carlos Osório de Castro is a structured finance specialist and is one of the leading names in the regional market. He wins praise from peers for his “sound technical expertise”.


Full-service Swiss firm HOMBURGER is home to the “excellent” René Bösch, the leading capital markets lawyer in the region. One source effuses: “He is the debt capital markets guru in Switzerland.”
Benedikt Maurenbrecher enjoys a great reputation among peers and clients alike as “a top capital markets lawyer”. He leads the firm’s financial services group and is highlighted for his great regulatory and transactional knowledge.

At leading Swiss law firm NIEDERER KRAFT & FREY, Philippe Weber is “a leading figure in the equity space.” He is “hugely experienced” when it comes to debt capital markets work, and is considered by sources to be “a truly excellent lawyer”.

United Arab Emirates

At HOGAN LOVELLS, global head of Islamic finance Rahail Ali stands out as one of the most prominent names in the field. He is internationally renowned as a leading practitioner in the area and is known for his exceptional work on behalf of governments, banks and regulators authorities.

Debashis Dey at WHITE & CASE in Dubai is highlighted for his work both in Islamic finance as well as debt and equity matters. He is described by respondents as “a high-profile figure” in the space and possesses over 20 years of experience advising clients on sukuk transactions, securitisations and regulatory issues.  


At LATHAM & WATKINS, Sanjev Warna-kula-suriya draws widespread praise from international sources for his outstanding work in the field. He is noted for his expertise in both debt and equity and structured finance matters. 

 North America

Thought Leaders
1. Alan Denenberg Davis Polk & Wardwell, Menlo Park
2. Stephen Halperin Goodmans, Toronto
3. William Braithwaite Stikeman Elliott, Toronto
4. Richard Truesdell Jr Davis Polk & Wardwell, New York
5. Richard Schetman Cadwalader Wickersham & Taft, New York

Leading Firms

LATHAM & WATKINS is home to the leading debt and equity team in North America, and achieves an impressive 10 nominations throughout the region.
In Los Angeles, Julian Kleindorfer is a first-class practitioner, well known in the market for his excellent work in the REIT space.
Texas-based Ryan Maierson boasts a world-class corporate finance practice. He is recognised for his expert handling of a wide array of capital markets matters, particularly on behalf of energy clients.
Sean Wheeler is one of the best when it comes to handling capital markets transactions and securities offerings in relation to the oil and gas industry.
Michael Chambers regularly handles public and private bond offerings, credit facilities and IPOs on behalf of clients, who commend his great expertise in the field.

At CADWALADER WICKERSHAM & TAFT nine practitioners achieve listings, eight of whom stand out for their structured finance expertise.
Thought leader Richard Schetman is “absolutely superb” when it comes to dealing with structured finance matters, and boasts over 20 years of experience counselling clients in the field.
Neil Weidner wins international praise for his capital markets practice which encompasses securitisations, derivative products and structured financings.
Michael Gambro also stands out for his excellent work in the space.

Full-service Canadian outfit BLAKE CASSELS & GRAYDON leads the domestic market with eight listings throughout Ontario and Alberta. 
Michael Gans leads the firm’s practice group in Toronto and is well versed in handling capital markets matters particularly in relation to M&A transactions.
Jeff Glass is widely respected among peers and stands out as a regulatory specialist when it comes to both corporate and capital markets matters.
Chris Hewat is also highlighted for his leading work in the field.

We feature eight leading names at DAVIS POLK & WARDWELL who impress with their excellent work in the field.
Alan Denenberg enjoys “an exceptionally good reputation in the market” according to sources, who consider him “a real pleasure to work with”. 
Richard Truesdell co-leads the firm’s global practice group and is regarded as “an important figure” when it comes to capital markets work. According to one peer, “He is exceedingly well known in the market.”
In California, Bruce Dallas is a firm favourite among clients who include Comcast, Masco and NBC Universal.

DAVIES WARD PHILLIPS & VINEBERG also stands out in the Canadian market and achieves seven listings this year.
Patricia Olasker is “a corporate finance specialist” according to respondents, who praise her excellent work on M&A transactions and related financial instruments.
Vincent Mercier is considered by peers to be “an incredibly talented practitioner” whose comprehensive knowledge of both domestic and international capital markets law makes him an asset to clients.
William Ainley gains recognition in this chapter for his invaluable experience handling a wide array of capital markets transactions.

Other Leading Individuals


At GOODMANS Stephen Halperin co-chairs the corporate securities group. He is one of the leading capital markets practitioners in the region known for his exceptional expertise in transactional and securities law.

At STIKEMAN ELLIOTT, chair of the firm William Braithwaite is one of the foremost practitioners in North America when it comes to capital markets work. He is frequently engaged in dealing with a wide array of related high-profile matters for clients, who include domestic corporations, boards of directors and shareholders.


SCHULTE ROTH & ZABEL’s Craig Stein co-leads the firm’s structured finance and derivatives team. He gains recognition for his top-tier work dealing with derivatives products, collateralised loans and asset-backed transactions.

Rest of the World 

Thought Leaders
1. Chi Tern Hoon Rajah & Tann Singapore, Singapore
2. Waldo Jones Jr Sullivan & Cromwell, Sydney
3. Rajiv Gupta Latham & Watkins, Singapore
4. Jerry Koh Allen & Gledhill, Singapore
5. Yash Ashar Cyril Amarchand Mangaldas, Mumbai

Leading Firms

KING & WOOD MALLESONS illustrates its dominant presence across the Asia-Pacific region this year with an impressive 16 listings in Australia and Hong Kong.
Ian Paterson is “among the top lawyers in Australia” according to respondents, who consider him “the go-to lawyer for banking capital markets matters”. He is known for his work on debt and hybrid matters, an area in which he is “head and shoulders above the rest”. 
David Friedlander is a top name in the equity capital markets space in Australia, and frequently represents clients in securities offerings and takeovers.
Sydney-based Yuen-Yee Cho is a banking and finance specialist who wins praise for her world-class corporate practice.
Evie Bruce is a finance specialist highlighted for her excellent work in the field.

Full-service Singaporean outfit ALLEN & GLEDHILL also performs well in this chapter with nine listings.
Deputy managing partner Jerry Koh is a major figure in the REIT space and draws high praise from international sources for his first-rate corporate finance practice. He is highlighted for his work in both the debt and equity and structured finance space.
Margaret Chin leads the firm’s debt capital markets team, and is considered one of the leading lights in the practice area in Singapore.
Magdalene Leong is very active in the debt space, and is well versed in handling both domestic and international debt offerings, bond issuances and note programmes.

We highlight eight impressive individuals at HERBERT SMITH FREEHILLS who stand out for their strong work in the field.
Philippa Stone is highly respected by peers who regard her as a prominent name in the Australian market. Her practice encompasses capital markets, M&A transactions and corporate restructurings.
Patrick Lowden is a fantastic lawyer, well known in the domestic market for his first-class debt capital markets work.
Tim McEwen is also recognised for his impressive work in the capital markets space. 

Other Leading Individuals


In Sydney, SULLIVAN & CROMWELL’s Waldo Jones is a well-established name among capital markets practitioners. He is a firm favourite among clients, who include corporate entities, governments and broker-dealers.


At CYRIL AMARCHAND MANGALDAS, Yash Ashar is a widely recognised name in the Indian market, and gains recognition for his exceptional expertise in debt and equity capital markets.


At RAJAH & TANN, the “driven and dynamic” Chi Tern Hoon stands out as one of the foremost practitioners in the international capital markets sphere. One client praises his “strong technical legal knowledge balanced with his excellent understanding of a company’s practical commercial considerations”.

Rajiv Gupta at LATHAM & WATKINS is “among the best in the market”, according to respondents. His world-class practice spans securities transactions, IPOs, debt offerings and private placements.

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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.

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