News

Prominent Financial Services Regulatory Team Joins Arnold & Porter

July 9, 2008

Kevin Barnard, Former General Counsel of the New York State Banking Department, and Colleague Alan Avery to Expand Capabilities in New York

NEW YORK, July 9, 2008 -- Arnold & Porter LLP announced today that prominent financial services regulatory lawyer Kevin Barnard and his colleague Alan Avery have joined Arnold & Porter's financial services group in New York as partners. Mr. Barnard will serve as co-head of the firm's financial services practice, along with A. Patrick Doyle, who is also based in New York.

Commenting on the arrival of the group, Chair Thomas Milch said, "This is a wonderful development for our firm. Combining Kevin and Alan's in-depth regulatory experience, particularly with foreign banks, with the strength of our existing top-ranked financial services regulatory group, will provide our global banking clients with deep expertise on a broad range of issues in the US."

"This is a critical addition to our group during a time of increasing changes and challenges in the financial services industry both in the United States as well as world wide," said Mr. Doyle. "Kevin and Alan will strengthen our ability to serve our financial services clients in New York and to advise them on the regulatory changes which many believe will occur due to the events of the past 18 months. In addition, given their expertise and visibility in the international banking community we expect Kevin and Alan to play a critical role advising our foreign bank clients on the regulatory issues these institutions face including the Bank Secrecy Act and anti-money laundering issues and investigatory matters, as well as related corporate and litigation matters."

"Kevin is an enormously skilled and experienced lawyer and his extensive practice is a perfect fit with Arnold & Porter's broad financial services practice," said Jerry Hawke, who rejoined Arnold & Porter in 2004 after serving six years as Comptroller of the Currency, prior to which he served as Under Secretary of the Treasury for Domestic Finance (1995-1998) and General Counsel to the Federal Reserve Board (1975-1978). 

Mr. Barnard is widely known as one of the top financial services regulatory lawyers in the country. He held prominent management positions at his former firm, including serving as head of the Global Bank Advisory Practice. Prior to entering private practice, Mr. Barnard served as the Deputy Superintendent of Banks and General Counsel of the New York State Banking Department, and as an attorney in the Washington, DC and New York offices of the US Treasury Department in the Office of the Comptroller of the Currency. He has represented leading global banking organizations, including advising Deutsche Bank regarding its purchase of Bankers Trust Corporation; Banco do Brasil with respect to its expansion of bank operations in the US; and Securities Industry Financial Markets Association in connection with the establishment of a vehicle to back up critical securities clearing activities in the US debt markets.

Mr. Avery's practice focuses on advising domestic and foreign banking institutions regarding the impact of federal and state banking laws on their worldwide operations, including forms of organization; product and geographical expansion; internal compliance and controls; privacy regulations; compliance with the USA Patriot Act; the Bank Secrecy Act and related anti-money laundering regulations. He has advised clients on federal and state regulatory approval requirements for bank formations, mergers and acquisitions and internal reorganizations. Mr. Barnard and Mr. Avery have experience advising hedge funds and private equity companies in investing in financial institutions, and are also active in advising sovereign wealth funds on investments in the US.

"Arnold & Porter has one of the country's foremost regulatory practices in financial services, with a deep bench of incredibly talented lawyers," said Mr. Barnard.  "Alan and I believe that our practices will complement the firm's strong US regulatory base and that we can help to further strengthen and expand the firm's practice both domestically and internationally."

Arnold & Porter's financial services practice has been recognized as one of the nation's best. Chambers USA 2008 recently noted that "the firm is an enforcement and regulation powerhouse." The practice was ranked as a leader in Financial Services Regulation: Banking & Securities (Regulatory Compliance) and in the number one band in Financial Services Regulation: Banking (Enforcement and Investigations). The financial services team of over 30 lawyers advises US and international financial institution clients on complex regulatory, litigation and transactional matters. Several members of the practice group have served in senior positions at the key federal regulatory agencies. The practice group handles complex regulatory and transactional issues and litigates cases involving the financial services industry at the administrative level and in the state and federal courts, including the US Supreme Court. Clients include a broad cross-section of bank and financial holding companies, thrift institutions, foreign banks, insurance companies, securities firms, hedge funds, private equity companies, investment managers, electronic commerce businesses and foreign governments.

Arnold & Porter LLP, an international law firm of over 650 attorneys, has offices in Washington, DC, Northern Virginia, New York, Los Angeles, Denver, San Francisco, London and Brussels. The firm, founded in 1946, maintains more than 25 practice areas spanning a broad spectrum of the law, with a primary focus on litigation, transactional matters and regulatory issues.

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