Arthur S. Long

Partner

arthur.long@davispolk.com

Mr. Long is a member of Davis Polk’s Financial Institutions Group. He has a reputation as a leading bank regulatory lawyer in the United States, having represented domestic and foreign banking organizations in New York since the late 1990s. He advises on the regulatory implications of mergers and acquisitions transactions; private equity and fund investments; the offering of new financial products, including derivatives; compliance and enforcement issues; bank insolvency issues; and, in the case of foreign banks, establishing U.S. branch and other offices.

He has provided bank regulatory advice to a large number of significant foreign bank clients, including Banco Santander, Barclays, Credit Suisse, Deutsche Bank and Royal Bank of Scotland; U.S. domestic banks, including J.P. Morgan, Morgan Stanley and State Street; and private equity firms that focus on investing in banks, including Corsair and Carlyle.

Mr. Long has recently taken a leading role in advising foreign and domestic financial institutions on Dodd-Frank implementation matters and has continued an active transactional practice, including advising on Sovereign Bank’s conversion from a federal thrift to a national bank; Chuo Mitsui Trust Holding’s $15.8 billion management integration with Sumitomo Trust and Banking Co., Ltd.; and Sandler O’Neill’s role in the $525 million recapitalization of First BanCorp, a Puerto Rico-based bank holding company.

Contact

Add to Outlook
New York
450 Lexington Avenue
New York, NY 10017
P: 212-450-4742
F: 212-701-5742

Related Practices

Financial Institutions

Bar Admissions

State of New York

Education

A.B., Harvard College, 1989
- magna cum laude
J.D., Harvard Law School, 1993
- magna cum laude
- Supreme Court Editor, Harvard Law Review

Languages

French

Work Highlights

REGULATORY REFORM

Mr. Long has taken a leading role in advising foreign and domestic financial institutions on Dodd-Frank implementation matters, including:

Assistance to a number of leading domestic and foreign banks regarding Dodd-Frank Act regulatory implementation, including the formulation of substantive input to regulators
Advice to banking organizations and asset managers with respect to the Volcker Rule

FINANCIAL REGULATORY

Recent financial regulatory matters include advising:

Morgan Stanley on the bank regulatory and compliance issues stemming from its conversion into a bank holding company in September 2008
Banco Santander on the conversion of its U.S. subsidiary Sovereign Bank from a federal thrift to a national bank and related Federal Reserve applications
Private equity funds on noncontrolling investments in banks
Foreign banks on conducting equity derivative activities in their U.S. branches
U.S. domestic and foreign banks on the Federal Reserve’s merchant banking rule, 23A/23B of the Federal Reserve Act, financial holding company status, debanking and rebanking, anti-money laundering; anti-tying, and issues relating to the industrial bank exemption from the Bank Holding Company Act

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
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

Recognition

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

Professional History

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

News

Dodd-Frank Progress Report Highlighted on CNBC

Davis Polk Issues Summary of Volcker Release

Davis Polk Advises Chuo Mitsui Trust Holdings on Its $15.8 Billion Management Integration With Sumitomo Trust and Banking

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Publications

forthcoming 2012

Deskbook on the Dodd-Frank Act | Practising Law Institute

May 2005

Costly U.S. Laundering Rules Must Change | International Financial Law Review

2004

United States of America | Global Financial Services Regulators: The Americas

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Client Publications

Dodd-Frank Progress Report

Dodd-Frank Progress Report

Summary of the Federal Reserve’s Proposed Rules for Enhanced Prudential Standards and Early Remediation Requirements for Covered Companies
Client Memorandum

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Practices ALL PRACTICES Antitrust Asia Practice Bankruptcy Litigation Board of Directors Litigation and Strategic Counseling Capital Markets China Practice Commercial Dispute and Contract Compliance and Advisory Compliance and Advisory Consumer Class Action Consumer Products Corporate Corporate Governance Credit Derivatives and Structured Products Energy/Utilities Environmental Europe Practice Executive Compensation and Employee Benefits Financial Crisis and Subprime Lending Financial Institutions Foreign Corrupt Practices Act Health Care Health Care/Life Sciences Hedge Funds India Practice Insolvency and Restructuring Intellectual Property Intellectual Property Litigation Internal Investigations International International and Domestic Arbitration International Litigation and Enforcement Investment Funds Litigation and Investigations Investment Management Leveraged Finance Litigation M&A-Related Litigation Mass Torts and Product Liability Media and Telecom Mergers and Acquisitions Private Equity Professional Liability Project Finance Real Estate Securities Class Actions Securities Enforcement Spain and Latin America Practice Tax Tax Controversy Technology Trading and Markets Trusts and Estates White Collar Criminal Defense
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