Richard Kahn joined the Sullivan & Cromwell as special counsel in Paris in 1998 and has been resident in New York since 2000. In recent years, he has focused on structured finance, liability management, structured notes, capital securities and securitization reform. He has advised on over 40 completed debt hybrid transactions for AIG, CapitalOne, JPMorgan Chase, PPL, Prudential Financial, Wells Fargo and other issuers; 10 completed common equity units transactions for AIG, Citigroup, MetLife, Morgan Stanley, and United Technologies and others; and 10 completed preferred equity units offerings for BNY Mellon, Goldman Sachs, Wells Fargo and others. He also advised Prudential Financial and Voya Financial on contingent liquidity facilities and Artisan Partners Asset Management on the Up-C restructuring for its IPO.
He advised ING Groep N.V. on its debut dollar-denominated Perpetual Additional Tier 1 Contingent Convertible Capital Securities in 2015, as well as on its risk transfer transaction with the Dutch State covering 80% of its €30 billion (approximately $40 billion) par value Alt-A RMBS portfolio in 2009 and on the restructuring of this transaction in connection with the 2012 sale of ING Direct to Capital One and initial public offering of Voya Financial. He has also advised BNY Mellon on the resecuritization of a portion of its RMBS portfolio. In liability management, he has advised on tender and exchange offers and consent solicitations involving Aflac, AIG, Assurant, First Midwest, Goldman Sachs, Lincoln National, Popular, Prudential Financial, Regions Financial, SunTrust and Wells Fargo. He has also advised on remarketing transactions, including many involving innovative structures, for AIG, BNY Mellon, Goldman Sachs, PPL, SunTrust, Wells Fargo and other issuers. He works regularly with several leading international financial institutions on cross-border structured finance transactions and advises industry associations and other clients on risk retention and other aspects of securitization reform.
Based in Frankfurt and Paris from 1993 to 2000, Mr. Kahn worked on a variety of privatizations and other securities transactions.