David Shearer
Partner
Norton Rose Fulbright LLP
Related services and key industries
Biography
David Shearer is a capital markets lawyer based in our London office. He focuses on securitizations, structured finance and covered bond transactions encompassing a range of jurisdictions, underlying asset classes (including residential mortgages, commercial real estate, auto loans, consumer receivables, trade receivables, corporate debt and whole businesses) and transaction structures. His clients include arrangers, issuers, originators and service providers.
David was recognized in The Legal 500 UK, 2021 as a "leading individual" in securitization, who "provides the trust, confidence and subject matter expertise that a first-time issuer needs in the complex universe of securitization".
His recent experience includes advising: Olympic Commercial & Tourist Enterprises Single Member SA (a joint venture between Koç Holdings (one of the largest conglomerates in Türkiye) and Avis Rent-a-Car, on a €186.4m securitization of auto leases; Attica Bank SA on a restructuring of existing NPL securitization; a UK specialist lender to small businesses on a COVID-19 financing accreditation and a number of warehousing facilities; a major international insurer on trade receivable and supply chain financing transactions (both as funder and as insurer); two securitizations of shipping loans (for Alpha Bank and Amsterdam Trade Bank, respectively); an international bank on its covered bond program; and Al Rayan Bank on the UK's first ever shariah-compliant RMBS transaction. David has also advised on the establishment of a number of covered bond programs (e.g. for National Bank of Greece, Alpha Bank and EFG Eurobank and Bank of Cyprus).
David has 28 years' experience of working for major law firms in New Zealand, England and Japan, with a particular focus on securitization since 1997. He was a partner with another major international law firm from 2002 to 2011, and joined Norton Rose Fulbright LLP as a partner in 2012.
Professional experience
Collapse all- Solicitor, qualified in England & Wales
David's recent experience includes advising: Olympic Commercial & Tourist Enterprises Single Member SA (a joint venture between Koç Holdings (one of the largest conglomerates in Turkey) and Avis Rent-a-Car, on a €186.4m securitization of auto leases; Attica Bank SA on a restructuring of existing NPL securitization; a UK specialist lender to small businesses on a COVID-19 financing accreditation, and a number of warehousing facilities; a major international insurer on trade receivable and supply chain financing transactions (both as funder and as insurer); two securitizations of shipping loans (for Alpha Bank and Amsterdam Trade Bank, respectively); an international bank on its covered bond program; and Al Rayan Bank on the UK's first ever shariah-compliant RMBS transaction. He has also assisted with the establishment of a number of covered bond programs (e.g. for National Bank of Greece, Alpha Bank and EFG Eurobank and Bank of Cyprus).
David has also worked on a number of major CMBS and Whole Business Securitizations, including: the establishment and several tap issues of the Canary Wharf Finance II plc securitization; the GHG Finance Ltd securitization of private hospitals; the Unique Pub Finance Company PLC securitization of the Unique Pub Company's portfolio of tied pubs; the Picts plc securitization of HBOS's headquarters; the Anglo Irish Bank Corporation plc/Anglo Irish Covered Bonds LLP, which was the first cross-border UK/Irish covered bond transaction backed by commercial real estate loans; and Amethyst Finance PLC which was a securitization of Mark's & Spencer's retail property portfolio. In addition, David advised Morgan Stanley in Tokyo on the JLOC Three Ltd and JLOC XI Ltd commercial mortgage backed conduit transactions.
- Legal 500, Recommended Lawyer, Structured Finance – Securitization, The Legal 500, 2021
Insights
Has the Budget finally levelled the playing field for UK Islamic finance?
Publication | November 15, 2024
Legal considerations relating to asset-backed tokens
Podcast | October 10, 2024
How is tokenization impacting liquidity and collateral management?
Podcast | October 10, 2024