Timothy Cleary specialises in structured finance and bank capital management. He has a particular focus on synthetic securitisation and other credit risk mitigation and risk transfer transactions, acting for banks and investors across Europe, North America and Asia.
Timothy also has broad experience in all aspects of OTC derivatives, in particular in connection with asset-backed securitisation, whole business securitisation, project and asset finance and real estate finance, as well as the repackaging of derivative exposures and securities financing transactions. He regularly advises industry bodies such as the Association for Financial Markets in Europe (AFME) and Prime Collateralised Securities (PCS) in relation to the evolving regulatory landscape for securitisation in the EU.
- Advising Lloyds Bank on its synthetic securitisation of portfolios of social housing loans, corporate loans, SME loans and agricultural mortgages
- Advising Deutsche Bank on the issue of credit-linked notes referencing portfolios of corporate and mid-cap and trade finance exposures
- Advising Standard Chartered Bank on its synthetic securitisation of portfolios of corporate loans and trade finance exposures
- Advising hedging bank syndicate in connection with the bank and bond financed whole business securitisation by the holding company of Arqiva
- Advising hedging banks on the financing for the NordStream gas pipeline and the Eurasia tunnel in Istanbul
- SCI's 3rd Annual Risk Transfer & Synthetics Seminar: Emerging Trends
Panelist, March 12, 2019, Clifford Chance New York
Risk factors in Securitisation Prospectuses under the EU Prospectus Regulation (PD3)
22 July 2019
ISDA Credit Support Annex: Court of Appeal re-affirms no obligation to pay 'negative interest'
14 May 2019
The EU Securitisation Regulation – do I need to worry?
23 January 2019
The EU Securitisation Regulation – entering a brave new world
9 January 2019
ISDA Credit Support Annex: High Court confirms no obligation to account for 'negative interest'
3 August 2018
Career and qualifications
- University of Melbourne (LLB and BA) 2003
- Admitted as a solicitor in Victoria, Australia 2004
- Joined Clifford Chance 2005
- Harris Manchester College, Oxford (MSt in Legal Research) 2010
- Admitted as a solicitor in England & Wales 2015
- Partner since 2017