Financial Institutions overview

In an era marked by rapid technological advancements, evolving regulatory landscapes and varying geopolitical developments, financial institutions require a legal partner that offers both global reach and deep industry expertise. White & Case stands at the forefront of addressing these trends and challenges, providing comprehensive solutions tailored to the unique needs of financial institutions worldwide.

Why White & Case?

Comprehensive client coverage: Our Financial Institutions Industry Group works across the full spectrum of advising banks, fintechs, digital assets and payments providers, asset and wealth management firms, stock exchanges, clearing houses, brokers, corporate finance, consumer finance, specialty finance and insurance companies, with tailored solutions for each client’s unique needs.
Industry-focused approach: Drawing on our extensive industry experience, White & Case represents clients in high-profile transactions, complex regulatory matters, and bet-the-company litigation and investigation mandates.
Global expertise with local insight: With 43 offices across 29 countries, we operate seamlessly across all major financial hubs, combining international experience with a nuanced understanding of local markets.

An integrated offering

At the heart of our practice is a commitment to understanding and prioritizing our clients’ needs. Our global Financial Institutions Industry Group is equipped to address our clients’ most complex business objectives, delivering innovative solutions across multiple disciplines, including:

Antitrust, FDI & CFIUS: Seamless, cross-border deal execution with deep expertise in evolving regulatory regimes.
Capital Markets & Debt Finance: Market-leading expertise in financing and restructuring, covering leveraged finance, private credit, bank capital issuances, high-yield offerings and structured finance.
Data, Privacy & Cybersecurity: Global leaders in GDPR, AI implementation, cloud computing and financial data compliance.
Financial Services Regulatory: A team of trusted advisors, composed of specialists, former senior regulators and compliance executives, delivering strategic advice on multi-jurisdictional frameworks.
Fintech & Digital Assets: A trail-blazing practice that has been at the forefront since the industry’s inception, advising on landmark legislation and transactions.
Litigation & Investigations: Defending financial institutions across the disputes spectrum, from high-stakes litigation to financial crime and enforcement.
M&A: Handling complex, high-value financial services deals in a regulated environment, contributing to more than US$26 billion in transactions in the past 18 months.
Sustainability & Responsible Business: Advising on sustainable finance, regulatory compliance, and shaping industry policies across mandatory and voluntary contexts.

Financial Institutions experience

Antitrust, FDI & CFIUS

Trial counsel to lead Forex trader for JPMorgan Chase and Royal Bank of Scotland, Richard Usher, in landmark Antitrust Division Section 1 price-fixing Sherman Act trial.

AMP Capital, an Australian financial services company, in CFIUS and Team Telecom reviews in connection with its acquisition of Everstream, a US super-regional network service provider providing fiber-based Ethernet, internet and data center solutions.

Capital Markets

Morgan Stanley & Co. LLC, Banco BTG Pactual S.A. – Cayman Branch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Itaú BBA USA Securities, Inc., Santander US Capital Markets LLC and UBS Securities LLC, as initial purchasers, on 3R’s issuance of US$500 million 9.750% senior secured notes due 2031. This transaction earned the Debut Corporate Bonds Deal of the Year award at Global Banking & Markets Latin America Awards 2024.

Goldman Sachs International, Merrill Lynch International and İş Yatırım Menkul Değerler A.Ş. on the US$288 million IPO and listing on Borsa İstanbul of Mavi Giyim Sanayi ve Ticaret A.S. It was the largest IPO in Türkiye since 2010.

Debt Finance

Deutsche Bank, Mizuho and Crédit Agricole, as joint lead arrangers, for US$1.54 billion of senior secured credit facilities made available to Foundation Holdings, a wholly owned subsidiary of SoftBank, to finance the acquisition of Fortress Investment Group.

Citigroup Global Markets Asia Limited and Credit Suisse AG, as original mandated lead arrangers and bookrunners, on the US$1.2 billion facilities to Weibo Corporation, as borrower. The financing involved 23 banks as arrangers and original lenders.

Data, Privacy & Cybersecurity

Guggenheim Securities, the investment banking and capital markets business of Guggenheim Partners, on privacy and data security elements of its US$1.9 billion initial issuance and sale of asset-backed certificates of Domino’s under a whole business securitization.

UK Finance, the trade body of the UK banking and finance industry, in Supreme Court proceedings concerning the extent to which financial institutions are liable to reimburse customers who have fallen victim to third-party payment fraud.

Financial Services Regulatory

A leading bank in connection with coordinating a global marketing and business review across approximately 80 jurisdictions, assessing cross-border business compliance restrictions and considerations with respect to full range of capital market, banking, investment trading and funds-related services.

Deutsche Bank AG before the European General Court in Luxembourg in a regulatory dispute against the European Central Bank (ECB) in an action for annulment regarding the ECB’s 2022 SREP decision imposing certain requirements on Deutsche Bank.

Fintech & Digital Assets

PayPal Holdings, Inc., one of the largest payments companies in the world, on its acquisition of Paidy, Inc. for an enterprise value of US$2.7 billion.

The Ministry of Finance of the Republic of El Salvador with respect to its incorporation of bitcoin as legal tender, as well as the establishment of a seven-year strategic partnership with Google Cloud to support the country in its journey to become a technological hub in South America.

Litigation & Investigations

Winning a total victory for Morgan Stanley after a New York federal jury issued a verdict of no liability in a rare trial of private insider trading claims asserted by a Russian billionaire and his Netherlands-based investment vehicle, Veleron Holdings, regarding a transaction made in the lead-up to the financial crisis. This was Morgan Stanley’s first jury trial in more than a decade and created new law relating to private party insider trading claims. The Second Circuit later affirmed.*

Successfully defended UBS, Citi and Lazard in a class action (and related SEC inquiry) alleging violation of federal securities laws in the underwriting of the US$165 million IPO for SinoTech, a Chinese issuer delisted from Nasdaq following allegations that SinoTech was a shell operation. Athale v. Sinotech.*

M&A

LGT, the world's largest independently owned wealth manager, on its acquisition of abrdn Capital, the FCA-regulated discretionary fund management business of abrdn, with £6 billion of AuM across the UK, Jersey and Guernsey.

Groupe BPCE, France’s second-largest banking group, on its acquisition of Société Générale Equipment Finance, a multi-office deal helping to create the EU’s leading equipment financing business.

Sustainability & Responsible Business

Regional Voluntary Carbon Markets Company, one of the leading voices globally on voluntary carbon markets, on regulatory matters relating to the launch of a voluntary carbon credit trading exchange in Saudi Arabia.

Citigroup Global Markets Limited, as arranger, on the update and modification of the Enel Group’s Euro-Commercial Paper (ECP) Programme into a Sustainable Development Goal (SDG) 7 (Affordable and Clean Energy) Target ECP Programme, for a maximum total value of €6 billion.

*Experience prior to joining White & Case