No image available

Barnabas Reynolds

Partner

Barnabas (Barney) is Global Co-Head of Financial Services Regulatory and Financial Institutions Sector Lead. He is one of the world's leading financial institution practitioners.

Barney specialises in banking, investment banking, derivatives, fund management, financial markets and financial infrastructure, payments, fintech, crypto and digital assets, insurance and reinsurance law and regulation, and enforcement actions. He has particular expertise in UK and EU regulation, but also advises on navigating legal and regulatory systems worldwide. He has special familiarity with Abu Dhabi Global Market (ADGM), having set it up, and Dubai International Financial Centre (DIFC).

Barney is a leading thinker on how law and regulation affects commercial activities. He provides strategic advice to financial services firms on how to plot the most efficient course through law and regulation in a domestic and cross-border context; on the use of legal reasoning to achieve legal and regulatory certainty; and in engaging productively with the regulators and government officials. He assists firms in planning for and managing emerging risks from legal and regulatory change. He advises C-suites and Boards on business issues through a legal and regulatory lens. He has helped numerous well-known clients with business transformation.

Barney advised the UK government and numerous businesses in the context of the legal and other implications of leaving the EU, and how to navigate them. He has conceived and established new legal systems in the Middle East and elsewhere. He is interviewed and published widely, regularly writing articles in national newspapers. He speaks at conferences on global developments and participates in fora of regulators with new ideas for the application and adjustment of regulation. He is frequently called to give evidence before Parliamentary Committees.

Experience

Representative matters

Highlights

Morgan Stanley, Citi, Bank of America, Wells Fargo and numerous hedge funds on the SVB and Credit Suisse situations.

The companies or creditors in all significant recent Greek bank recapitalisations, including Piraeus Bank on its EUR4.9 billion recapitalisation, Eurobank on its USD2bn recapitalisation and bondholders on the recapitalisation of the National Bank of Greece, having done many of the restructurings since BRRD, including advising the lower Tier 2 bondholders on the first ever creditor bail-in of a UK bank without taxpayer support in connection with The Co-operative Bank’s GBP1.5bn recapitalization plan. Awarded Most innovative law firm in finance law by the Financial Times Innovative Lawyers Awards, 2014 and Financial Regulation Team of the Year by (IFLR100 Europe Awards, 2014.

Intercontinental Exchange (ICE) in its establishment of ICE Clear Europe as the first new derivatives clearing house in London since 1880 and other transformative transactions such as the European regulatory aspects of its approximately USD11bn acquisition of NYSE Euronext, subsequent carve-out of LIFFE and spin-off of the Euronext continental cash equity markets.

Pro bono

Advising investors in London Capital & Finance plc on mis-selling claims (“Highly Recommended”, FT European Innovative Lawyers Awards, 2023)

Published Work

  • Co-editor of Sweet & Maxwell’s Journal of International Banking Law and Regulation
  • Howe M. K.C. and Reynolds B., (2023) “The European Research Group's Legal Advisory Committee Review and Assessment of the ‘“The Windsor Framework’” London: The European Research Group 
  • Reynolds B. and Samuel R., (2023) “Regulatory Accountability for Financial Services” London: POLITEIA
  • Barnabas Reynolds (with others), (2023) “Mutual Enforcement: The Key to Restoring Government in Stormont”, London: Centre for Brexit Policy

Speaking Engagements

  • Guest Speaker, Inside Central Bank Digital Currencies, Abu Dhabi Finance Week, November 2023  
  • Panel Moderator, Bank Capital and Solvency, FMLC Quadrilateral, November 2023 
  • Guest Speaker, Major Financial Regulatory Challenges Ahead - Global, Regional and National, Cumberland Lodge Financial Services Summit, November 2023 
  • Guest Speaker, Commencement of UK Financial Services and Markets Act 2023, ADGM Summit, September 2023 

Leadership Positions And Professional Affiliations

  • Member, “Star Chamber”, which advised MPs on Brexit legal documentation and issues
  • Member, TheCityUK Advisory Council
  • Committee Member, Financial Markets Law Committee 
  • Member, FCA / PRA Lawyers’ Consultative Group
Recognition
Barney Reynolds has great institutional knowledge and experience.” “Barney is excellent and very responsive.
Chambers UK, 2024
Barney’s depth of knowledge in financial services and his understanding of the complex foreign policy matters is key to his tactical advice.
Chambers UK, 2023

Awards

  • Band 1 for U.K.-wide Financial Services: Non-Contentious Regulatory, Chambers UK 2021- 2023
  • Ranked in Chambers UK for 19 years, 2005 - 2024
  • Hall of Fame, Legal 500 UK, 2022 - 2024
  • JD Supra Readers’ Choice Award, International Law and Finance & Banking, 2019

Qualifications

Admissions

England and Wales, 2007 (Practising Certificate)

England and Wales, 1993

Academic

LL.M., University of Cambridge, Queens’ College, 1990

M.A., University of Cambridge, Downing College, 1989

Languages

English, French, Spanish
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.