Barnabas Reynolds

Barney’s relevant experience* includes:

• Abu Dhabi Global Market on its establishment as an international financial center in the U.A.E, leading a team of over 50 lawyers drafting new laws and regulations for ADGM based on the common law method and U.K. regulation
• Abu Dhabi investors on the acquisition (and subsequent disposal) of certain debt and equity interests in Barclays Bank plc
• Alliance & Leicester on the disposal of its credit card business to MBNA
• Bank of America on a range of strategic global corporate and regulatory matters

• Bank of America, Deutsche Bank, Credit Suisse, Oppenheimer, ABSA, Stifel and other banks on Brexit-related adjustments
• A large UK bank and smaller firms on recovery and resolution planning
• Lower Tier 2 bondholders on the first ever creditor bail-in of a UK bank without taxpayer support in acquiring 70% of shares in The Co-operative Bank in connection with the bank’s recapitalization
• A consortium of subordinated bondholders on the Bank of Portugal’s decision to place Banco Espirito Santo (BES) into “resolution”
• Canaccord Genuity Group on various matters including advising members of management on their attempted takeover bid to acquire all of the issued and outstanding shares in Canaccord and on a restructuring in connection with the introduction of an employee share scheme
• Central Bank of Cyprus on the reduction of non-performing loans and other problem assets in the Cypriot banking system
• Citi on a number of M&A matters including its acquisition of ING’s Custody and Securities Services Business across Central and Eastern Europe
• ClearToken on regulatory issues relevant to its central counterparty, central securities depository, an FCA regulated payment services entity and its admission to the Bank of England’s “digital sandbox”
• Coinbase, a cryptocurrency exchange platform operator, on regulatory matters and structuring of transactions and products
• The banks or creditors in many significant Eurozone financial crisis bailouts and restructurings, including Piraeus Bank and Eurobank on their recapitalizations, and bondholders on the recapitalizations of National Bank of Greece, HSH Nordbank and HETA Bank
• A cryptocurrency lender in relation to launching activities
• Deutsche Bank AG on various M&A and regulatory matters
• Fairfax Holdings Limited on a number of corporate transactions
• Financial institutions, their boards and individual directors and executives on compliance programs, legal and regulatory risk, and regulatory investigations and enforcement, including issues related to insider dealing, market abuse, market manipulation, disclosure, confidentiality of information, anti-money laundering, cyber security and ESG/sustainability
• Goldman Sachs, Morgan Stanley, Citi, Bank of America and others on numerous finance, derivatives, securitization, funds structuring and other transactional matters
• Intercontinental Exchange, Inc. (ICE, Inc.) in its establishment of ICE Clear Europe as the first new derivatives clearing house in London since 1880 and other transformative transactions such as the European regulatory aspects of its acquisition of NYSE Euronext, subsequent carve-out of LIFFE and spin-off of the Euronext continental cash equity business, the acquisition and sale of a strategic stake in Euroclear, the establishment of a cleared CDS market, various exchange, clearing and other businesses in the Netherlands, ADGM and Singapore
• ICE on its JV with ADNOC to establish ICE Futures Abu Dhabi, a new exchange in Abu Dhabi Global Market (ADGM) hosting the world’s first Murban crude oil futures contracts and ADNOC on setting up two new trading units in ADGM
• Morgan Stanley, Citi, Bank of America, Wells Fargo and numerous hedge funds on the SVB and Credit Suisse situations
• Various banks and funds on their positions in Unicredit’s CASHES instruments
• Mubadala Capital on its acquisition, together with Fortress management, of Fortress Investment Group
• Establishment and sale of NewEdge
• Olayan on its 3.25% stake in Credit Suisse
• Société Générale on various corporate, regulatory and strategic transactions
• Sompo on its acquisition of insurer and reinsurer Endurance Specialty Holdings
• Temasek on claims over its investment in FTX
• The governments of Saudi Arabia, Vietnam, Sri Lanka and Ras al Khaimah on setting up new English law zones, and on legal and regulatory competitiveness, and the Central Bank of the UAE on financial regulatory reform
• Various financial infrastructure providers on regulatory issues, including Eurex, Euronext, SGX and CDCC
• Various banks, hedge funds, central banks, development banks and corporates on sales and trading, prime brokerage arrangements, derivatives clearing, reporting and conduct of business requirements
• Various institutions on the development of new funds (e.g., Bank of America, Eurazeo), financial services and products (e.g., ICE, Morgan Stanley, Deutsche Bank, ADNOC, Coinbase)
• Various institutions on business process, IT and offshore outsourcings, including Citi to Amazon Web Services (cloud services), Citibank to J.P. Morgan (in relation to the U.K. Post Office’s “Universal Bank”), Deutsche Bank to State Street (back office services), CSFB to Bank of New York (back office services), Citibank to ABN AMRO (back office services), WestLB to Hewlett Packard (IT), Lloyd’s to Ins-Sure (a joint venture with Xchanging, in relation to LPSO and LCO), Winterthur to Citibank (fund administration)
• Various financial institutions and energy companies on market-wide problems such as LIBOR, FX, the MF Global bankruptcy, extraterritoriality (regulatory perimeter and ESG), and UK/EU sanctions on Russia and other countries
• Zürcher Kantonalbank on UK and EU regulatory issues

Barney is a widely published author and a frequent media commentator on financial services matters. He regularly speaks at conferences on global legal and regulatory developments, and is often called upon to give evidence before Parliamentary Committees.

*Includes matters undertaken prior to joining S&C.