Shearman And Sterling

News Jun 01, 2020

Shearman & Sterling Adds Financial Advisory & Regulatory Partner in New York

Shearman & Sterling announced today that Mark Chorazak is joining the firm as partner in its global Financial Institutions Advisory and Financial Regulatory practice in New York. His arrival further bolsters the firm’s US bank regulatory, FinTech and financial institutions practices.

Mark is a preeminent financial regulations attorney who has represented financial institutions on a wide range of bank regulatory, transactional and compliance matters. He has regularly counseled banks, investors and other financial services firms on strategic matters and compliance issues under the Bank Holding Company Act, Dodd-Frank and other key U.S. banking laws. Throughout his career, he has also advised clients on Volcker Rule compliance, financial innovation issues, authority and control matters, anti-money laundering counseling, corporate governance and enforcement actions. Recognized by Chambers USA as a leading lawyer in financial services regulation, Mark has also been at the forefront of advising clients on the regulatory implications of the transition from LIBOR.

“We are delighted to welcome Mark to the firm’s premier global Financial Institutions Advisory and Financial Regulatory practice,” said David Beveridge, Senior Partner at Shearman & Sterling. “We are continuously called upon by our clients for advice on their evolving regulatory and compliance needs. Mark’s addition to the practice, alongside Reena Sahni and Tim Byrne in the U.S. and the recent joining of Simon Dodds in London, underscores our commitment to be the firm best positioned to deliver sophisticated and analytical legal services across the transatlantic financial centers.”

“Mark’s unique skillset across various compliance and regulatory matters makes him a strategic and complementary asset to the firm’s other practices including our FinTech, broker-dealer and derivatives groups,” said Barney Reynolds Global Head of the Financial Services Industry Group at Shearman & Sterling. “Building on the momentum of the team’s recent achievements including successfully advising domestic and foreign banks on branch applications and expansions, as well as a variety of bank holding company, bank powers and permissibility issues, Mark’s addition will further fortify the support we offer to our financial institution and FinTech clients.”

The firm’s U.S. Financial Institutions Advisory and Financial Regulatory practice has had a number of notable successes, building on its strength advising domestic and foreign banks on their U.S. operations. The team has advised on the opening of the first banking office of a Vietnamese bank in the United States; the expansion of representative and branch offices in the United States, and bank acquisitions, including the acquisition by Banco Bradesco of BAC Florida Bank. The team is also active in the FinTech area, among others, advising Bakkt, a subsidiary of Intercontinental Exchange, on its formation and expansion, including the chartering of its New York licensed limited purpose trust company.

Mark joins the firm from Cadwalader. Previously, he was at Simpson Thacher where he was the lead regulatory counsel on some of the largest bank mergers following the financial crisis. Mark received his J.D. from Duke University School of Law and his B.A., summa cum laude, from Syracuse University.

Shearman & Sterling has grown significantly in the last year, with the opening of its Dallas office in February and the addition of more than 20 new partners.