Groundbreaking Work Related to the Global Financial Crisis

At the vanguard of critical issues and developments affecting financial institutions, S&C has remained the chosen firm of leading global financial institutions seeking non-traditional investments, sales and restructuring arrangements in connection with the global credit and financial crisis. Recent representations include:

• AIG in connection with the $85 billion emergency financing plan with the Federal Reserve and certain potential divestiture transactions
• Allianz in connection with its investment in Hartford Financial Group
• American Express in its conversion to a bank holding company
• Bank of Ireland in its €3.5 billion capital investment by the Irish
  government
• The Bank of New York Mellon in capital raising transactions
• Barclays in its acquisition of Lehman Brothers' North American investment banking and capital markets operations and supporting infrastructure
• Barclays in a series of capital raising transactions, including sovereign wealth fund investments
• The Board of Directors of The Bear Stearns Companies in its sale to JPMorgan Chase
• CDC in connection with its €1.7 billion investment in Dexia
• China Investment Corporation in its $5.6 billion investment in Morgan Stanley
• Citigroup in capital raising transactions, including sovereign wealth fund investments
• The Federal National Mortgage Association (Fannie Mae) in connection with the establishment of a conservatorship by the Federal Housing Finance Agency
• Goldman Sachs in its sale of $5 billion in Preferred Shares and warrants to Berkshire Hathaway, its public offering of senior debt guaranteed by the FDIC and its public offering of $5 billion of Common Stock
• Goldman Sachs in its conversion to a bank holding company and related merger of its industrial loan bank and trust company
• Goldman Sachs, JPMorgan Chase and The Bank of New York Mellon as initial participants in the Troubled Assets Relief Program (TARP), as well as numerous institutions in the "second wave"
• ING Groep in the capital injection of approximately $13.4 billion from the Dutch government in the form of Convertible Core Tier 1 Perpetual Securities
• J.C. Flowers & Co. in its acquisition, as part of an investor group, of IndyMac Federal Bank
• JPMorgan Chase in its acquisition of all deposits, assets and certain liabilities of Washington Mutual's banking operations from the FDIC, as well as the related stock offering
• Lehman Brothers in connection with its capital raising and consideration of strategic alternatives prior to its bankruptcy
• Merrill Lynch in a series of capital raising transactions, including sovereign wealth fund investments
• Mitsubishi UFJ Financial Group in its equity investment in Morgan Stanley for a 21% interest in the company and in its "going private" acquisition of UnionBanCal Corporation
• National City in its merger with PNC Financial Services Group
• Independent directors and capital committee of Sovereign Bancorp's board of directors in Sovereign's acquisition by Banco Santander
• Regions Financial in public offerings of common stock and mandatory convertible preferred stock and an exchange offer of common stock for trust preferred securities, to meet its commitment to raise common equity in response to the Federal Reserve's Supervisory Capital Assessment Program
• UBS on U.S., English, French, German and EU law in its rights issue to raise approximately CHF 15 billion
• Wachovia in its merger with Wells Fargo
• Warburg Pincus in its pending acquisition of a 15 percent interest in Webster Financial Corporation