Law360 2021 Practice Group of the Year: Banking

January 20, 2022

For the fourth time, Sullivan & Cromwell has been recognized as one of Law360’s Banking Practice Groups of the Year. S&C advises many of the world’s largest financial services institutions on their most crucial matters, including transactions, regulatory matterslitigation, investigations and enforcement actions.

Our recent banking achievements highlighted by Law360 include:

  • Advising the U.S. Treasury on its Emergency Capital Investment Program to strengthen minority-owned financial institutions
  • Advising the Spanish bank Banco Bilbao Vizcaya Argentaria in its $11.5 billion acquisition by PNC
  • Advising MUFG in its $8 billion sale of its U.S. retail banking business—the second largest announced bank M&A deal of the year to date
  • Advising LendingClub in acquisition of Radius Bank—the first-ever announced acquisition of a bank by a U.S. fintech company
  • Successfully representing Wells Fargo in investigations and litigation stemming from CARES Act Paycheck Protection Program loan applications
Additionally, S&C led all law firm advisers on announced bank M&A deals, measured by value, in 2021. We advised on deals totaling more than $52 billion, representing two-thirds of the $77 billion of bank M&A deals announced last year.

Recent Thought Leadership
  • Memo: OCC Seeks Public Feedback on Principles for Climate-Related Financial Risk Management for Large Banks
  • Memo: OCC Issues Interpretive Letter Regarding the Authority of Banks to Engage in Cryptocurrency Activities
  • Memo: Office of the Comptroller of the Currency Issues Bulletin Regarding Investments in Venture Capital Funds
  • Memo: Federal Banking Agencies Issue Final Rule Regarding Cyber Incident Notification Requirements
  • Article: S&C Lawyers Author Article on Biden Administration Approach to Climate-Related Financial Risk