Overview Of BNY Mellon:
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 35 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.
The successful candidate will join the EMEA investment management legal team in London which currently consists of 9 lawyers and 1 admin assistant. The EMEA investment management legal team is part of the broader BNY Mellon EMEA Legal team.
The investment management legal team's primary role is to provide legal advice and assistance and to act as a business partner to BNY Mellon Investment Management's investment boutiques in EMEA, which include Alcentra, Newton, Walter Scott, and BNY Mellon Investment Management EMEA. These are separately run firms each with their own investment strategies and philosophy, all operating within the BNY Mellon group. There are also two fund management companies operating in each of the UK and Luxembourg. These fund management companies operate and manage a number of funds. These are both UCITS (UK and Irish ranges) and regulated and unregulated alternative investment funds established in a variety of different jurisdictions, including, the UK, Ireland, Luxembourg, the Channel Islands and Cayman. The team also works closely with and provides assistance to colleagues based in continental Europe, the US, Asia and Brazil where relevant.
Founded in 2002, Alcentra is one of Europe's largest and longest tenured managers of private debt with circa US$40 billion under management. Strategies include senior loans, high yield bonds, direct lending, structured credit, distressed debt, and multi-strategy credit. Alcentra has two principal product offerings - CLOs and private funds spread across a range of different strategies. In recent years there has been an increasing focus on funds work. Alcentra is a subsidiary of The Bank of New York Mellon Corporation and is headquartered in London, with offices in the United States.
The current legal team supporting Alcentra is comprised of two lawyers in London and 2 lawyers in New York with support from the wider legal team as needed. Owing to the departure of one of the team in London, there is a need to hire a lawyer in London whose primary focus will be Alcentra.
The role will principally involve the provision of legal advice and assistance to Alcentra's fund ranges and CLOs, including: fund structuring and establishment; fund maintenance; negotiation of side letters; advice regarding CLOs; special projects; providing advice regarding regulatory, contractual and other legal matters as well as dealing with day to day ad hoc queries. The role will be varied and the successful candidate should feel comfortable working on a range of different issues at any one time and by happy to learn new areas of law. The role will also include instructing and overseeing outside counsel.
• Ideally a 3-7 year English qualified lawyer with experience of unregulated funds and ideally CLOs. Particular experience in the sub-investment grade debt market would be ideal. The successful candidate is most likely to have worked for a well established private practice firm and may already have worked in-house although this is not a requirement.
• Strong technical skills.
o Must have a sound knowledge of unregulated fund structures and their vehicles (general partners, limited partnerships, LLCs, holding company SPVs, etc.) in different jurisdictions, including, in particular Luxembourg and Cayman;
o Familiarity with marketing restrictions for unregulated funds;
o Familiarity with tax issues that impact such funds;
o Ideally a good knowledge of CLOs;
o Good knowledge of the more general regulatory environment within which investment management firms operate; and
o Familiarity with US law/regulation applicable to private funds and investment advisers a plus.
• Ability to deal with a varied workload in a fast-paced environment. Must be able to prioritise matters and be adaptable.
• Ability to build relationships with a variety of different internal clients.
• Pragmatic, someone who looks for solutions rather than obstacles. The legal team is seen as a business partner and the successful candidate will be someone who is comfortable relating to and dealing with business colleagues as the role will involve frequent interaction with business colleagues.
• Ability to identify and manage legal risks.
• A clear communicator, concise and able to deliver legal advice in layman's terms.
• A team player. The legal team and Alcentra work in an open-plan environment and the ability to work harmoniously and responsively with one's colleagues and clients is an essential pre-requisite for the role.
• Enthusiastic, with a desire to develop one's career in one of the world's largest investment management businesses.
What we can offer you:
• Challenging, fun and supportive environment
• 25 days holiday (in addition to Bank Holidays) plus opportunity to purchase up to 5 extra days
• Highly competitive benefits package including pension and private medical cover