Share these talks and lectures with your colleaguesInvite colleagues
Avoiding the floating rate cliff-edge: How asset management general counsels can tackle the LIBOR cessation challenge
LIBOR’s (London Inter-bank Offered Rate) impending cessation poses several significant challenges for the asset management industry and the buy-side generally. This paper aims to assist asset management general counsels and law departments in developing and implementing LIBOR cessation action plans so that they can effectively meet the needs of their firms and colleagues in operations, risk, front office, marketing, compliance and beyond in tackling LIBOR’s expected sunset. Readers can expect to obtain familiarity with the key legal hurdles to overcome by law departments, including fallback analysis and assessment of basis risk inherent in contracts across asset classes (eg cash products, derivatives, repo etc). Specific focus is given to the practical consequences for asset managers of LIBOR transition, with an eye to arming general counsels with the information they need to ‘make the case’ for early and thorough preparation.
The full article is available to institutions that have subscribed to the journal
Jaime A. Madell is a Managing Director and head of derivatives legal at Guggenheim Partners Investment Management, LLC. In this capacity, he oversees the negotiation, structuring and implementation of derivatives (and similar) transactions and related regulatory and advocacy matters. Prior to joining Guggenheim, Jaime was an attorney at the law firm of Paul, Weiss, Rifkind, Wharton & Garrison, LLP, where he represented numerous buy-side and sell-side institutions in their derivatives (and related) matters and won a teaching award for excellence in mentoring junior associates. He received his BA in Music from Columbia University in 2006, his MM in Music from Northwestern University School of Music in 2007 and his JD from New York University in 2011. He is also a Lecturer in Law at the University of Chicago Law School.