Job Purpose:
- The individual’s main responsibilities will include broad based derivatives coverage to our public side business units in the Institutional Equities Department (IED) and the private side strategic equity derivatives team within Global Capital Markets (GCM).
Your Responsibilities:
- Experienced lawyer in the Morgan Stanley EMEA Sales & Trading Legal Division providing broad advisory coverage on structured and flow equity derivatives and structured equity margin loans. The role, which reports into a senior Executive Director, will have a broad focus, providing general legal support and regulatory advice to a diversified range of business units
- Corporate Equity Derivatives desk within GCM (“private side”)
- This business typically deals with holders of significant stakes in listed companies looking to enter into strategic transactions aimed at hedging, financing or monetising their equity stake or increasing their exposure through a variety of instruments, including equity derivatives and margin loans
- The desk also facilitate and structure both vanilla and complex share buy back programmes for issuers looking to hedge or optimise buy back programmes
- The transactions are of a sensitive nature and may be linked to broader capital markets or M&A transactions. The lawyer will be expected to advise the business units with respect to the marketing, structuring, negotiation, execution and risk management of the transactions from a regulatory and contractual perspective in a number of European and Middle Eastern jurisdictions, with a key focus on the regulatory aspects (including market abuse) and netting and enforceability of the relevant security packages
- Bespoke structured equity derivative transactions and flow equity derivatives within IED (“public side”)
- This business involves the structuring and execution of OTC derivative transactions with financial institutions (including other dealers) and institutional investors (including insurance companies and hedge funds) on shares, ETFs, funds, managed accounts, indices and bespoke indices
- These may be “flow” derivatives or more structured transactions (e.g. transactions with structured pay-outs and/or collateral packages and/or where counterparties have atypical requirements)
- The legal coverage provides legal and regulatory advice to both the Sales, Trading, Financial Engineering and Documentation teams with respect to the trade documentation and structuring issues
- The geographical remit includes developed and emerging markets
- The lawyer will be required to liaise with internal Legal and Compliance colleagues, other control functions (Risk, Credit, Treasury, etc.), and to instruct and manage external counsel
- Candidates are expected to be flexible and adapt their coverage to meet the demands of the business.
Skills and Qualifications:
- The ideal candidate must be a qualified lawyer (expected to be 4 PQE or above but we will consider any candidates regardless of actual PQE) and have solid grounding in English security and contract law and have OTC derivatives experience
- In particular, the candidate should either have experience in a major law firm and/or in-house as a transactional lawyer in OTC ISDA based equity derivatives
- Additional relevant experience may also include: prime brokerage, equity capital markets, corporate law, banking law and relevant financial regulation
- The candidate is expected to be an English qualified lawyer although we will also consider lawyers qualified in other jurisdictions who have significant English law experience
- Additional skills that we are looking for include:- Strong academic credentials
– Enthusiasm, willingness to learn on the job and the ability to manage his/her time efficiently
– Ability to engage with internal stakeholders/functions with different backgrounds and skill sets
– Confident self-starter
– Excellent judgment and analytical skills
– Excellent oral and written communication skills
– Strong interpersonal and team work skills are a must.
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