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Michael Sholem
Counsel

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.

Work Highlights

  • 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

  • The lead financial adviser, sponsor and underwriters to Just Retirement Group on its proposed £1.7 billion merger with Partnership Assurance Group, £150 million standby underwriting arrangement and £101.1 million placing and open offer
  • Lightyear Capital LLC and Clarion Partners Holdings LLC on the sale of Clarion Partners to Legg Mason Inc.

Before joining Davis Polk, Mr. Sholem’s work highlights include advising

  • 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
  • RenaissanceRe Holdings, on the acquisition of Spectrum Partners, whose principal operating subsidiary was Spectrum Syndicate Management, a Lloyd’s Managing Agent.

Of Note

  • Co-Author, European Union chapter, The Banking Regulation Review, 2014, 2013, 2012 and 2011
  • Author, “European Overview,” The Asset Management Review, 2012, 2013, 2014
  • Interviewed by Lexis Nexis Financial Services in 2013 on “The future of the financial services sector”
  • Author, “EMIR’s unanswered questions,” International Financial Law Review, April 2014
  • Author, “European Financial Services for the Treasurer,” The International Treasurer’s Handbook, ACT, 2014

Professional History

  • Davis Polk since 2015
  • Special Advisor, Slaughter and May, 2012-2015

  • Associate, Slaughter and May, 2007-2012

Contact

  • Davis Polk & Wardwell London LLP
    5 Aldermanbury Square
    London
    EC2V 7HR
    P: +44 20 7418 1027
    F: +44 20 7418 1053

    Davis Polk & Wardwell London LLP is a limited liability partnership formed under the laws of the State of New York, USA, and is authorised and regulated by the Solicitors Regulation Authority with registration number 566321.

Bar Admissions

  • England and Wales

Education

  • M.A., Politics and Modern History, University of Edinburgh, 2001