David L. Portilla
Advises on financial services M&A, regulation, policy, enforcement and governance matters. Was a senior policy advisor to FSOC at its launch.
David advises non-U.S. and U.S. banking organizations and nonbank financial institutions on a range of M&A, regulation, policy, enforcement and governance matters – including the full gamut of the prudential regulatory framework. He has a notable reputation in enhanced prudential standards for large banks, the Volcker Rule, the prudential regulation of nonbank firms, and innovation-related and cryptoasset issues. He is well known for thought leadership and spearheading advocacy efforts for clients.
David served as a senior policy advisor to the Treasury Department’s Financial Stability Oversight Council at its launch following the 2010 Dodd-Frank Act. He helped develop the FSOC’s initial substantive agenda, procedures and governance, and worked on Dodd-Frank implementation and other financial regulatory issues.
His work has been recognized by Chambers, Legal 500, IFLR1000 and Law360, which named David a 2022 Fintech MVP. He co-chairs the ABA Banking Law Committee’s SIFI subcommittee.
David’s representations before joining Davis Polk include the following:
- Texas Capital Bank on its $3.4 billion sale of BankDirect Capital Finance to Truist
- Cowen on its $1.9 billion acquisition by TD Bank Group
- SMBC Aviation Capital on its $6.7 billion acquisition of Goshawk Aviation
- GreenSky on its $2.24 billion acquisition by Goldman Sachs
- ECN Capital on its $2 billion sale of its Service Finance Business to Truist Bank
- Afterpay on its $29 billion acquisition by Square
Chambers USA – Financial Services Regulation: Banking (Compliance)
Legal 500 U.S. – Financial Services Regulation
IFLR1000 – Banking and Financial Services Regulatory, United States, Rising Star
National Law Journal – “Cryptocurrency/Blockchain/Fintech Trailblazer,” 2022
Law360 – “Fintech MVP of the Year,” 2022
Global Banking Regulation Review – “45 Under 45,” 2020
- with highest honors
- Order of the Coif
- with honors
- Partner, Davis Polk, 2023-present
- Partner, Cravath, 2021-2023
- Partner, Debevoise, 2016-2021
- Associate, Debevoise, 2013-2016
- Senior Policy Advisor, Financial Stability Oversight Council, U.S. Treasury Department, 2011-2013
- Davis Polk, 2006-2011
Qualifications and admissions
- District of Columbia
- State of New York