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    Home /  Lawyers /  Patrick D. Clancy

    Patrick D. Clancy

    European Counsel

    London +44-20-7959-8900
    clancyp@sullcrom.com
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    London

    +44-20-7959-8900

    |

    clancyp@sullcrom.com

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    Patrick Clancy is a leading finance and derivatives lawyer advising on complex, high value and strategically significant global transactions. He works at the intersection of capital markets, structured finance and derivatives, helping financial institutions, funds and corporates navigate technically demanding structures and regulatory change.

    Patrick’s experience covers the full spectrum of capital markets and, derivatives products, including bonds, securitisations and CLOs, credit default swaps, equity linked derivatives, margin loans and total return swap facilities. He is highly regarded for his expertise in ISDA documentation, repos, stock lending, custody and trading frameworks and trade finance instruments.

    Patrick advises a number of the world’s leading financial institutions, hedge funds, sovereign wealth funds, investment funds, private equity sponsors, corporates and infrastructure providers. His experience includes regulatory matters arising from the cessation of LIBOR, complex CDS strategies, equity and equity derivative positions connected with public takeover situations, financings, restructurings and rescue refinancings, as well as digital asset trading platforms, structured investments in the insurance sector and private CLOs for sovereign investors.

    He has played a prominent role in significant market developments, including advising on the derivatives and documentation aspects of the LIBOR transition. He is also the author of the ISDA netting and collateral opinions for the Abu Dhabi Global Market.

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    Spotlight

    Patrick Clancy to Join Sullivan & Cromwell’s London Office, Enhancing Derivatives and Structured Finance Capabilities

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    • Experience
    • Credentials
    • Related Practices
    Experience

    Experience

    • Advising the administrator of LIBOR on the Benchmark regulations and steering a path with the FCA and the Fed through the difficulties that cessation presented
    • CDS strategies in relation to certain reference entities in distress, leading to opportunities for the client to play a central role in restructuring
    • Pivotal work for a client involving a very large equity derivative and subsequent equity position arising from the resolution of a call option strategy in the context of a proposed corporate takeover

    • Advice to a large hedge fund providing funding to a high street bank through a credit linked note issuance in order to improve significantly that bank’s Tier 1 capital ratio at year end
    • Collar financing relating to a major European automotive company during the global financial crisis
    • Advising various clients in relation to the Lehman administration
    • Advising one of the creditors in the margin loan fall-out from the collapse of Steinhoff
    • Structured investments in the insurance space
    • Platform documentation for digital asset trading
    • Private CLOs for SWFs
    • Advising on the structuring and documentation for the mezzanine financing in the takeover of a major English Premier League football club
    • Advising on the rescue refinancing of an insurance business on the brink of insolvency
    • Advising a clearing house on its margin and default fund reinvestment arrangements
    • Advising an investor on its investments in loans, notes and CDS and in the subsequent default of Norske Skog
    • Advising ICE Clear on its rulebook for clearing CDS
    • Advising various investors on significant equity derivatives trades, including in the telecoms space
    • Advising the banks on the derivatives work out for Eskom
    • Documenting a sell-down funding structure for a lender in relation to loans to a Sovereign, involving participations and repackaging
    • Advising an overseas financial institution and its run off vehicle on its loss-support arrangements in connection with the disposal of its business
    • Authored ISDA netting, collateral and clearing opinions for the ADGM jurisdiction

    *Includes matters undertaken prior to joining S&C.

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    Credentials

    Credentials

    Education

    • London Business School, M.Sc., 2002
    • University of Oxford, M.A., 1986

    Bar Admissions

    • England and Wales
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    Related Practices

    Related Practices

    • General Practice
    • Bank Regulatory
    • Broker-Dealer
    • Commodities, Futures & Derivatives
    • Crisis Management
    • Digital Assets
    • Economic Sanctions & Financial Crime
    • Europe
    • Financial Services
    • Financial Services Capital Markets
    • Financial Services Investigations & Litigation
    • Financial Services Mergers & Acquisitions
    • Fintech
    • Insurance
    • Investment Management
    • Middle East
    • Payments
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