image description

Mark J. Menting

Partner

Mark J. Menting

Partner
New York +1-212-558-4000+1-212-558-4000 +1-212-558-3588+1-212-558-3588
[email protected]

For over 35 years Mark Menting has been at the forefront of providing a broad range of strategic advice to some of the most sophisticated financial services and fintech firms and assisting them in meeting their strategic objectives in the ever-evolving financial services industry.  

The depth and breadth of Mark’s expertise and experience, including industry specific expertise and experience, allow him to serve as a one stop resource for many of the matters and issues that financial services firms face.  His wide ranging practice covers mergers and acquisitions, securities, corporate and corporate governance, regulatory, enforcement, product development and strategic matters for both U.S. and non-U.S. firms and investors, including individuals and private equity firms.  He regularly advises and represents boards of directors in many of these types of matters as well.

He was recognized in 2013 by The American Lawyer with its coveted “Dealmaker of the Year” award for his work with ING Groep on a series of multi-billion dollar post-crisis divestitures involving its U.S. and Canadian internet banks, and by Law360 as a “Banking MVP” in 2017.  He has advised on over 200 mergers and acquisitions (with an aggregate value well in excess of $200 billion) and advised clients on some of their most significant transactions of this century, include representing:

  • Fiserv in:
    • its $22 billion ($39 billion enterprise value) transformative acquisition of merchant acquirer First Data in 2019
    • its $4.4 billion acquisition of CheckFree in 2007
    • four other acquisitions and divestitures
       
  • LendingClub in its transformative bank charter initiative, including its pending $185 million acquisition of Radius Bank, the first U.S. fintech announced acquisition of a bank
     
  • Online discount broker Scottrade and its owners the Riney family in the $4 billion sale of Scottrade and Scottrade Bank to TD Ameritrade and TD Bank in 2017
     
  • Online bank EverBank Financial in its $2.5 billion sale to TIAA in 2017 and its $2.51 billion acquisition of GE Capital’s business property lending division in 2012
     
  • ING Groep NV in the:
    • C$3.1 billion sale of its Canadian online Bank, ING Bank of Canada to the Bank of Nova Scotia (2012) – the largest bank deal in Canada since 1999
    • $9 billion sale of its U.S. online bank, ING Direct USA to Capital One Financial Corp. (2011) – until 2019, the largest U.S. bank deal since the global financial crisis
       
  • The TCW Group in connection with Nippon Life Insurance Company’s purchase of a 24.7% minority stake and The Carlyle Group’s purchase of a 32% stake in 2017
     
  • Bank of Ireland, Columbia Bank, Cullen/Frost Bankers, Emigrant Bank, FirstMerit, First Midwest, Israel Discount Bank, M&T Bank, National Australia Bank, Natixis, PacWest Bank, Provident Banshares, Regions Financial, Royal Bank of Scotland, Standard Chartered Bank and Sterling Bancorp in strategic M&A transactions
     
  • Riggs Bank in its anti-money laundering regulatory challenges, including a guilty plea for a failure to file a suspicious activity report, and its $644 million sale to PNC in 2005
     
  • Dexia in its $2.7 billion acquisition of Financial Security Assurance in 2000, the first acquisition by a bank of an insurer under the Gramm-Leach-Bliley Act
     
  • New York Community Bancorp in six acquisitions from 2000 to 2015 which resulted in its growth from $2 billion in assets to $50 billion in assets today
     
  • Allianz in its $3.3 billion acquisition of PIMCO in 1999, which at the time was the largest investment management acquisition, and its follow up acquisition of Nicholas-Applegate for $980 million in 2001 which together established Allianz’s premier U.S. asset management operations, and three other subsequent asset management transactions.

Client comments on Mark Menting and his work include the following:

“He’s a consummate professional. Like Ice Man in Top Gun, he makes no mistakes.” Chambers USA 

In his recognition as Dealmaker of the Year by The American Lawyer for various ING divestitures, ING general counsel Jan-Willem Vink said of Mark and his partner, William Torchiana, “Mark and William have been a key factor in [our] success. They both have an intimate understanding of our business, both in banking and insurance, which really elevates them beyond the point of simply being lawyers and providing legal support—they’re true partners in the commercial decision making process."  The American Lawyer     

“Mark Menting helped guide us through an extremely complex acquisition . . . . He provided invaluable advice on not only legal aspects of our situation but business advice as well. His experience, knowledge and responsiveness are always important, but when you are in a battle those qualities coupled with a calming and reassuring demeanor give you the extra edge to succeed in a difficult situation. Most importantly, Mark knows the most critical elements and is unwavering in his pursuit of them.”  Best Lawyers in America

Mr. Menting is a frequent speaker on various topics relevant to financial institutions and has also taught at the University of Pennsylvania Law School regarding “The Regulation of Financial Service Providers in the United States.”

He is a member of the Board of Trustees: Chair of the Human Resources & Compensation Committee and member of the Executive Committee for Helen Keller International and a member of the Lawyers Advisory Committee for the New York Bankers Association.

SELECTED REPRESENTATIONS

Additional transactions that Mr. Menting has advised on include: 

Banks and Thrifts
  • Allianz AG in its €23.4 billion acquisition of Dresdner Bank AG (2001)
  • Aquiline Capital Partners in its:
    • $56 million investment in Strategic Growth Banking (2012)
    • $27 million investment in BNC Bancorp (2010)
  • Barclays Bank in its $225 million acquisition of EquiFirst Corporation (2007)
  • Columbia Banking System, Inc. in its:
    • $644.1 million acquisition of Pacific Continental Corporation (2017)
    • $121.5 million merger with Intermountain Community Bancorp (2014)
  • Community Capital Bank in its sale to Carver Bancorp, Inc. (2006)
  • Cullen/Frost Bankers, Inc. in its:
    • $220 million merger with WNB Bancshares (2014)
    • $363 million acquisition of Summit Bancshares (2006)
    • $87 million acquisition of Alamo Bank (2005)
    • $31 million acquisition of Texas Community Bank (2005)
    • $107 million acquisition of Horizon Capital Bank (2005)
  • David Bolger:
    • in connection with the purchase of shares of Beach Community Bank from then parent company, Beach Community Bancshares, Inc. (2018)
    • as principal shareholder, in the sale of F&M Holding Company to Cascade Bancorp (2006)
  • Emigrant Bank in the sale of its New York Metropolitan area branch network and $3.2 billion in deposits (2012)
  • FirstMerit Corporation in its $3.4 billion merger with Huntington Bancshares Incorporated (2016)
  • First Midwest Bancorp, Inc. in its:
    • acquisition of Northern States Financial Corporation (2018)
    • $365 million acquisition of Standard Bancshares, Inc. (2016)
    • $58 million acquisition of Great Lakes Financial Resources, Inc. (2014)
  • Israel Discount Bank in its sale of Discount Bank Latin America to ScotiaBank (2014)
  • M&T Bank Corporation in its $555 million acquisition of Partners Trust Financial Group (2007)
  • National Australia Bank in its:
    • $800 million acquisition of Great Western Bancorp (2007)
    • $1.6 billion sale of Michigan National Corporation (2001)
  • Natixis in the $12.8 billion business combination of Natexis Banques Populaires, Banque Fédérale des Banques Populaires and Caisse Nationale des Caisses d’Epargne by which it was formed (2006)
  • PacWest Bancorp in its:
    • $466.7 million acquisition of El Dorado Savings Bank (2018)
    • $705 million merger with CU Bancorp (2017)
    • $849 million acquisition of Square 1 Financial, Inc. (2015)
    • $2.3 billion merger with CapitalSource (2014)
  • Provident Bankshares in its $401 million merger with M&T Bank Corporation (2009)
  • Regions Financial in its $6 billion merger with Union Planters (2004)
  • Riggs National Corporation in its $644 million sale to PNC Financial Services Group (2005)
  • Royal Bank of Scotland in the:
    • sale of its Chilean subsidiaries to The Bank of Nova Scotia (2010)
    • sale of substantially all of the assets and liabilities of its Argentine operations to Banco Comafi (2010)
    • sale of its Colombian banking operations to Scotiabank (2010)
  • Smithtown Bancorp in its $60 million merger with People’s United Financial (2010)
  • Standard Chartered in its $823 million acquisition of American Express Bank Ltd. (2008)
  • Sterling Financial in its $565 million acquisition by PNC Financial Services Group (2007)
  • Sterling Bancorp on its stock for stock $344 million merger with Provident New York Bancorp (2013)
  • Tygris Commercial Finance Group in its $535 million acquisition by EverBank Financial Corp. (2010)
Investment Management
  • Afsaneh M. Beschloss, CEO and Founder of The RockCreek Group, in connection with RockCreek management’s acquisition of the 65% of the firm owned by Wells Fargo, bringing management’s total ownership to 100% (2018)
  • The Board of Directors of Allied Capital in its $900 million acquisition by Ares Capital (2010)
  • Aquiline Capital Partners in its acquisition of Conning & Company (2009)
  • Artisan Partners in the sale of a minority stake to Hellman & Friedman  and a related leveraged recapitalization (2006)
  • AssetMark Investment Services in its $330 million sale to Genworth Financial (2006)
  • Brundage, Story & Rose in the:
    • sale of its private-client and institutional-equity groups to Bessemer Trust Company (2000)
    • sale of its fixed income division to Donaldson, Lufkin & Jenrette (2000)
  • Crédit Agricole S.A. in its $8.7 billion combination of its asset management businesses with Société Générale (2009)
  • Dexia in its subsidiary Dexia Credit Local de France’s acquisition of a 75% majority interest in the global structured finance unit of PricewaterhouseCoopers LLP (2002)
  • Fiera Capital Corporation in its:
    • acquisition of Clearwater Capital Partners (2018)
    • US$145 million acquisition of Apex Capital Management (2016)
    • acquisition of Charlemagne Capital Limited (2016)
  • First Union in its:
    • acquisition of Mentor Investment Group (1999)
    • acquisition of Lieber & Co. and Evergreen Asset Management (1993)
  • Gannett, Welsh & Kotler in its sale to The Bank of New York (2002)
  • Gartmore plc in:
    • its acquisition by National Westminster Bank (1996)
    • Nationsbank Corporation’s acquisition of a stake in Gartmore (1994)
  • Genworth Financial, Inc. in its:
    • $412.5 million sale of its Wealth Management business, including Genworth Financial Wealth Management, and alternative solutions provider, the Altegris companies, to a partnership of Aquiline Capital Partners and Genstar Capital (2013)
    • acquisition of alternative investment management platform provider Altegris (2010)
  • National Australia Bank Limited in the sale of its minority interest in Altrinsic Global Advisors (2019)
  • The Special Committee of the Board of Directors of Nationwide Mutual Insurance Company in its sale of its U.S. Gartmore operations (2007)
  • Riggs Bank in its acquisition of J. Bush & Company (1997)
  • The Rock Creek Group in Wells Fargo Asset Management’s acquisition of a majority ownership stake (2014) and a minority ownership stake (2012) in Rock Creek
  • The TCW Group in connection with Nippon Life Insurance Company’s purchase of a 24.7% minority stake in TCW from The Carlyle Group (2017)
  • Wachovia in its $200 million acquisition of Offitbank Holdings (1999)
  • Wanger Asset Management in its sale to Liberty Mutual (2000)
Fintech
  • Fiserv in its:
    • $22 billion transformative acquisition of merchant acquirer First Data (2019)
    • $465 million acquisition of CashEdge Inc. (2011)
    • $540 million sale of a 51% stake in Fiserv Insurance Solutions to StonePoint/Trident (2008)
    • $775 million sale of Fiserv Health (2008)
    • $4.4 billion acquisition of CheckFree Corporation (2007)
    • $325 million sale of Fiserv Trust to TD AMERITRADE (2007)
  • LendingClub in its transformative bank charter initiative, including its pending $185 million acquisition of Radius Bank, the first U.S. fintech announced acquisition of a bank
  • Online discount broker Scottrade and its owners the Riney family in the $4 billion sale of Scottrade and Scottrade Bank to TD Ameritrade and TD Bank in 2017
  • Online bank EverBank Financial in its $2.5 billion sale to TIAA in 2017 and its $2.51 billion acquisition of GE Capital’s business property lending division in 2012
  • ING Groep NV in the:
    • C$3.1 billion sale of its Canadian online Bank, ING Bank of Canada to the Bank of Nova Scotia (2012) – the largest bank deal in Canada since 1999
    • $9 billion sale of its U.S. online bank, ING Direct USA to Capital One Financial Corp. (2011) – until 2019, the largest U.S. bank deal since the global financial crisis
  • ​ING Groep NV, through its ING DIRECT USA division, in the $220 million acquisition of ShareBuilder Corp. (2007)
Insurance
  • Allianz in its investment in The Hartford (2008)
  • Genworth Financial, Inc. in its $1.8 billion sale of its majority interest in Genworth MI Canada to Brookfield Business Partners (Bermuda) in connection with Genworth Financial's $2.7 billion pending acquisition by China Oceanwide Holdings (2019)
  • ING Groep NV in its €300 million sale of Nederlandse Reassurantie Groep NV to Berkshire Hathaway (2008)
Broker Dealer and Specialty Finance
  • Aquiline Capital Partners LLC in its $200 million investment in CRT Capital Group LLC (2010)
  • Assurant in its $35 million sale of is Mortgage Solutions business to Xome Holdings (2018)
  • CRT Capital Group LLC, a portfolio company of Aquiline Capital Partners, in its acquisition of Sterne Agee's Institutional Equity business (2015)
  • HBOS plc in the $650.7 million sale of its 64.5% stake in Drive Financial Services to Banco Santander Central Hispano (2006)
  • ING Groep NV, through its ING DIRECT USA division, in the $220 million acquisition of ShareBuilder Corp. (2007)
  • M&T Bank Corporation in its acquisition of a minority stake in Bayview Lending Group LLC (2007)
  • National Australia Bank in its sale of Homeside Lending (2002)
  • Natixis in its acquisition of Arnhold and S. Bleichroeder (2002)
  • New York Community Bancorp, Inc. in its sale of its mortgage banking business, which was acquired as part of its 2009 FDIC-assisted acquisition of AmTrust Bank, to Freedom Mortgage Corporation (2017)
  • Stonegate Mortgage Corporation in its $211 million acquisition by Home Point Financial Corporation (2017)
  • Tygris Commercial Finance Group in its $535 million acquisition by EverBank Financial Corp. (2010)
  • Vector Partners in its sale to Banc of America Securities (2003)
Capital Raising
  • Artisan Partners Asset Management Inc. in its:
    • $21.5 million synthetic secondary offering of Class A common stock (2018)
    • $332 million SEC-registered IPO (2013);
    • $200 million senior notes offering (2012)
  • Aquiline Capital Partners in its:
    • $56 million investment in Strategic Growth Banking (2012)
    • $27 million investment in BNC Bancorp (2010)
    • $200 million investment in CRT Capital Group LLC (2010)
  • Bank of Ireland in an additional €1.9 billion investment by the Irish government and subsequent sale of such securities to private investors (2011)
  • City National Bancshares Corporation in its $20 million recapitalization of City National Bank (2015)
  • Cullen/Frost Bankers, Inc. in its:
    • $100 million SEC-registered offering of notes (2017)
    • $150 million SEC-registered non-cumulative preferred shares offering (2013)
  • David Bolger as lead investor in a capital raise by Cascade Bancorp (2009)
  • CDC in its €1.7 billion investment in Dexia (2008)
  • First Midwest in its:
    • $150 million offering of subordinated notes (2016)
    • $115 million SEC-registered notes offering (2011)
    • $180.0 million offering of common shares (2010)
  • GF Financial in its investment, through private placement, in West Coast Bancorp (2009)
  • Great-West Lifeco Finance in its $700 million Rule 144A/Reg S offering of notes (2017)
  • ING Groep NV in:
    • the $3 billion sale of its stake in Capital One Financial Corp. through an underwritten public offering (2012) – the largest U.S. block trade ever
    • its capital injection of approximately $13.4 billion from the Dutch government in the form of Convertible Core Tier 1 Perpetual Securities (2008)
  • M&T Bank Corporation in connection with the U.S. Department of the Treasury’s $381.5 million sale of two series of preferred M&T TARP stock (2012)
  • National Australia Bank in:
    • $750 million offering of fixed rates notes (2020)
    • $1.5 billion offering of subordinated notes (2019)
    • in the IPO and subsequent offerings of its U.S. bank subsidiary Great Western Bank (2014)
  • New York Community Bancorp in its
    • $515 million public offering of 20.6 million depositary shares, each representing a 1/40th interest in a share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (2017)
    • $630.5 million SEC-registered common stock offering (2015)
  • Tygris Commercial Finance Group in its $2 billion private placement of common equity (2008)