Mr. Sholem is counsel in Davis Polk's Corporate Department, practicing in the London office. His practice focuses on the supervision and regulation of banks, investment firms, insurance companies and asset managers, including in connection with new authorizations, changes of control, corporate governance and regulatory investigations. His practice has also included advising non-financial groups on the impact of new regulation, with a particular focus on market infrastructure.
Mr. Sholem also has extensive experience advising clients on developments in European Union laws, rules and policies affecting financial institutions. He is also frequent commentator and speaker in the market on financial regulatory matters and contributes thought leadership to a wide range of media publications.
Michael’s transactional highlights include:
- Dai-ichi Life Holdings, Inc. on the $6 billion merger of Janus Capital Group, Inc. and Henderson Group plc and its strategic partnership with the combined group
- MasterCard Incorporated on its £700 million acquisition of 92.4% of VocaLink Holdings Limited
- Lightyear Capital LLC and Clarion Partners Holdings LLC on the sale of Clarion Partners to Legg Mason Inc.
- The government of the United Kingdom on measures taken to stabilize the banking system in 2008 and 2009, and in particular on the recapitalization of Lloyds Banking Group.
- Deutsche Bank on its settlements with the U.K.'s FCA and the U.S. DOJ, CFTC and New York DFS in relation to global regulatory investigations into the setting of interbank offered benchmark rates.
- A number of financial and non-financial groups on the impact of the European Market Infrastructure Regulation and the Alternative Investment Fund Managers Directive
- Banco Santander on an agreement with Warburg Pincus and General Atlantic to boost the global growth of its asset management unit, Santander Asset Management through the creation of a new joint venture
- Legal and General Assurance Society Limited (LGAS) on the transfer by Nationwide Life Limited to LGAS of approximately 350,000 long-term insurance policies pursuant to a scheme under Part VII of the Financial Services and Markets Act 2000