Our Senior Consultants
Custody and Fiduciary Expert
Expert in legal aspects and operations of global custody banking and asset servicing with broad background in fiduciary issues and fund administration for institutional investors.
This senior-level banker and attorney served as in-house counsel for more than 20 years to two of the largest banks in the United States where he provided advice on such issues as trust, custody, capital markets, investment management, foreign exchange, ERISA fiduciary matters and mutual fund and bank collective fund custody and administration. Previously, he was in-house counsel to a major multi-national industrial company where he specialized in labor relations and employee benefits, including ERISA plan design and administration. In more recent years, he has been in private practice as an attorney serving banks and fund sponsors focusing on all aspects of asset servicing and various fiduciary and global custody issues. As a recognized expert in custody and trust services, he has been retained in litigation by law firms and the SEC.
His areas of expertise include:
- Directed-trustee and custodial agreements, both domestic and global;
- Best practices for pension funds, mutual funds, endowments/foundations, hedge funds;
- Trade settlement operations;
- Pricing;
- Tax withholding and reclaims;
- Settlement, custody and documentation of non-traditional investments, including limited partnerships, LLCs;
- Derivatives processing, reporting and documentation;
- Collateral and account control agreements;
- Selection, oversight and management of sub-custodians;
- Risk and compliance department functions;
- Mutual fund back-office accounting and administration;
- Many aspects of off-shore funds, including UCITS and Fonds Common du Placement;
- ERISA, including fiduciary matters, prohibited transactions and plan asset issues.