Financial Crisis Advice

• The Federal Reserve Bank of New York with respect to its series of investments in American International Group, Inc.
• Her Majesty’s Treasury in connection with its plan to provide support to the U.K. banking system, including obtaining relief from the Bank Holding Company Act for the U.K.-government controlled company that is the controlling shareholder of The Royal Bank of Scotland Group plc and Lloyds Banking Group plc
• Citigroup Inc. on its proposed rescue of Wachovia Corporation in the first contemplated FDIC-assisted “open bank” transaction in nearly 20 years

M&A Assignments

• Banco Santander’s original investment in, and ultimate acquisition of, Sovereign Bancorp
• SLM Corporation (Sallie Mae) on its proposed sale to an investors group led by J.C. Flowers
• The acquisition by Citizens Financial Group, a subsidiary of The Royal Bank of Scotland Group, of Charter One Financial
• Citigroup’s acquisition of Grupo Financiero Banamex-Accival
• Banco Santander’s merger with Banco Central Hispanoamerica
• Banco Bilbao Vizcaya’s merger with Argentaria
• J.P. Morgan’s investment in KorAm Bank

Financial Regulatory

In addition to Bank Holding Company Act advice on matters related to the U.K. bank recapitalization program and Santander/Sovereign acquisition, other recent work includes advising:

• Morgan Stanley on the bank regulatory and compliance issues related to its conversion into a bank holding company
• Private equity funds on noncontrolling investments in banks
• Non-U.S. banks on conducting equity derivative activities in their U.S. branches
• The Federal Reserve’s merchant banking rule, 23A/23B of the Federal Reserve Act, FHC status, debanking and rebanking, anti-money laundering; anti-tying, and issues relating to the industrial bank exemption from the Bank Holding Company Act

Derivatives

Mr. Long has advised a wide range of domestic and foreign banking organizations on structured note and structured CD programs, across equity-, currency-, commodity- and rates-linked product lines.

• Listed in guides to the world’s leading business lawyers, including IFLR1000: Guide to the World’s Leading Financial Law Firms

• Partner, 2007-present
• Counsel, 2004-2007
• Associate, 1994-1997; 1998-2004

• Law Clerk, Hon. Clarence Thomas, U.S. Supreme Court 1997-1998
• Law Clerk, Hon. J. Michael Luttig, U.S. Court of Appeals, Fourth Circuit 1993-1994

• Davis Polk Advises Corsair Capital on Its Acquisition of a 9.9% Stake in East West Bank

• Davis Polk Advises J.P. Morgan on Establishment of Hedge Fund of Funds Program with Arden Asset Management

• Davis Polk Advises Citigroup on Its Wealth Management Joint Venture With Morgan Stanley

• Davis Polk Advises Banco Santander on its Acquisition of Sovereign Bancorp

• Davis Polk Is Advising Citigroup on Its Acquisition of Wachovia's Banking Operations

• President Obama Proposes Size and Activities Limits for Financial Institutions
  Client Memorandum

• President Obama Proposes Tax on Large Financial Firms
  Client Newsflash

• The FDIC Seeks Public Comment on Whether to Incorporate Compensation Programs into the Risk-Based Deposit Insurance Assessment System
  Client Newsflash

• FDIC and Private Capital: Moving the Goal Lines
  Client Memorandum

• Summary of the Wall Street Reform and Consumer Protection Act Passed by the House of Representatives, December 11, 2009
  Client Memorandum

• Summary of the Restoring American Financial Stability Act of 2009, Introduced by Senator Christopher Dodd (D-CT) November 10, 2009 Discussion Draft
  Client Memorandum

• The House and Senate Debate Resolution Authority
  Client Memorandum

• FDIC Extends Cautious Welcome To Private Capital Investments In Failed Banks
  Client Memorandum

• Obama Administration Proposes Sweeping Legislation to Regulate Over-The-Counter Derivatives
  Client Newsflash

• Davis Polk Comment Letter on the FDIC's Proposed Policy Statement on Private Equity
  Comment Letter

• The Regulatory Reform Marathon
  Client Memorandum

• FDIC Proposes Conditions for Investments in Failed Banks by Private Capital Investors
  Client Memorandum

• A New Foundation for Financial Regulation?
  Client Memorandum

• Obama Administration White Paper on Financial Regulatory Reform: Executive Summary and Outline of Key Proposals
  Client Newsflash

• The Debate Over Federal Insurance Regulation
  Client Memorandum

• Treasury's Proposed Resolution Authority for Systemically Significant Financial Companies
  Client Memorandum

• Treasury's Rules of the Road for Regulatory Reform
  Client Memorandum

• The Public-Private Investment Program
  Client Memorandum

• Limited TLGP Extension and New Surcharge
  Client Newsflash

• FDIC to Discuss Guaranteeing Mandatory Convertible Debt Under the Temporary Liquidity Guarantee Program
  Client Newsflash

• The Financial Stability Plan and its Impact on Financial Institutions and Private Capital
  Client Memorandum

• UK and US Financial Rescue Packages - A Survey
  Client Memorandum

• The Struggle Over the Second Half of TARP
  Client Memorandum

• Fed Relaxes Traditional Control Rules for Private Equity and Other Minority Investments in Banks and Bank Holding Companies
  Client Newsflash