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Derivatives, and particularly credit derivatives, are increasingly becoming key components in structured finance transactions. Clients expect their firms to be able to provide specialist derivatives capability as part of an integrated transaction-focused structured finance team. In line with its strategy to be highly responsive to client demand, White & Case has developed a derivatives capability alongside its structured credit product practice.

Heather is a well known and greatly respected lawyer, recommended as a leader in her field by a well known legal benchmarking publication and said by another to have “excellent market knowledge.”

Heather’s experience will complement White & Case’s existing capital markets and structured finance practice which in the last 18 months has acted on several landmark CDOs including the largest managed synthetic CDO to date — Cheyne Investment Grade CDO I Ltd; the largest European collateralised debt obligation — Duchess I CDO S.A.; and the €550 million Duchess II CDO S.A. — the largest funded CDO of leveraged loans so far this year. The team also advised on a wide range of credit linked notes, repackagings and other structured finance products as well as a number of securitisations including the Stora Enso whole business securitisation — the first in Finland and the first of forestry assets.

“Heather is one of the most talented and experienced derivatives lawyers in the market and we are fully confident that she will be a perfect fit with our team and existing clients,” said co-Head of Capital Markets, London Francis Fitzherbert-Brockholes.

Rachel Hatfield, who, with Francis co-Heads the London Capital Markets group, added “We have expanded our capital markets and structured finance group substantially in the last 18 months. Heather’s arrival takes the service we offer clients to the next level.”

“The capital markets and structured finance teams have had an exceptional year so far,” commented Head of the structured finance practice, Rich Reilly. “We welcome Heather to the teams and look forward to even greater success with her on board.”

Heather Pilley
Heather joins White & Case from Linklaters where she was a consultant (a position similar to counsel). She has advised financial institutions, corporates, and other entities on financing transactions, primarily derivatives and derivatives-related products. In addition, she was one of the drafters of the International Swaps and Derivatives Association (ISDA) 1987 master agreements, and acted as one of the English legal counsel to ISDA in respect of the 1992 Master Agreement. Heather has been published widely on topics including, amongst other things, netting, and is an experienced speaker at conferences.

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White & Case announces addition to its capital markets team of new derivatives partner Heather Pilley from Linklaters