Henning von Sachsen-Altenburg

Henning von Sachsen-Altenburg

Mobile: 07770 885 609

Henning qualified in Germany in 1996 and has been a member of the German bar association ever since. After practicing four years as Rechtsanwalt in Germany, specializing in litigation, asset finance and general commercial law, he qualified as Solicitor in England and Wales in 2000 and spent several years in private practice in London. During this time, Henning acquired extensive expertise as structured finance, securitization and derivatives specialist, focusing on UK-German cross-border transactions.

Since 2004 Henning has practiced law in-house at several well-known investment banks and has gained hands-on and business relevant advisory and transactional experience in the areas of real estate finance, distressed debt and restructuring whilst deepening his expertise in OTC derivative documentation and all legal and regulatory issues relating to a variety of derivative products (including structured notes) and prime brokerage. He is familiar with the legal aspect of clearing and has worked extensively with recent financial services regulation, including its analysis and implementation.

Expertise:

Henning’s Expertise includes a) analysing and interpreting relevant legislation and regulation, b) advising on a broad range of issues, products, structures or transactions, and c) preparation, negotiation and completion of transaction documentation, relating to the following areas of English and German law:

  • General Commercial law
  • Banking
  • Derivatives (including all OTC derivatives and SFT transactions with a range of underlying asset classes, in particular fixed income and commodities)
  • Financial Services Regulation
  • Structured Finance and Securitisation/Repackagings
  • Cross-border transactions
  • Real-Estate Finance
  • Distressed Debt
  • Restructuring
  • Contentious Matters

His considerable experience as team-leader and head of a legal department in an investment bank also enables Henning to advise on issues relating to the establishment, structure and strategic direction of a legal department.

Who he works for:

Henning works for the following clients in the UK, Switzerland, Austria and Germany:

  • Financial Institutions (including Commercial and Investment Banks and Insurances)
  • Institutional Investors (including Asset and Investment Managers)
  • Funds
  • Corporate Entities
  • Private Equity
  • Advisers

Expertise in:

  • Advising on the development of an IT data model for the collation and extraction of legal terms contained in the ISDA Master Agreement documentation and the German law Rahmenvertrag für Finanztermingeschäfte to enable financial institutions to comply with regulatory reporting requirements in the EU and the US
  • Advising in relation to, and leading the interpretation and implementation of, legislative and regulatory changes in several jurisdictions (including the adjustment of manuals, policies, procedures, team structures and monitoring programmes) with particular experience in relation to MiFID I, MiFID II, EMIR and BRRD, but also Dodd-Frank
  • Analysing, interpreting and advising on the regulatory requirements for OTC derivative clearing and establishment of a client clearing documentation for international and German clients
  • Advising on all legal aspects of, and preparing, drafting and negotiating, documentation in relation to, a wide range of OTC derivative transactions, including repurchase and securities lending transactions with various underlying asset classes
  • Publishing the chapter "Die ISDA Master Dokumentation", a summary and analysis of the ISDA Master Agreement documentation (Master Agreement with CSA and CSD) in "Ausserbörsliche (OTC) Finanzderivate", a publication in German language by Jean-Claude Zerey (and others), NOMOS, 4th edition 2016
  • Advising, drafting and supervising the update and partial establishment of a number of prospectuses as part of the Barclays Bank PLC Global Structured Securities Programme (GSSP) and its German sister-programme, the Barclays Bank PLC Retail Structured Securities Programme (RSSP) to make the existing Barclays structured notes issuance programmes compliant with EU directive 2010/73/EU (Prospectus Directive)
  • Advising on the establishment of a passported full-service branch of an investment bank in Sweden
  • Advising and documenting a number of true-sale and synthetic securitisation transactions, including
    • Several auto-loan receivable securitisation transactions under the securitisation programme of a major European auto-loan originator and continuous maintenance and update of the programme, and
    • several synthetic securitisation drawdowns from German KfW’s Promise and Provide SME securitisation platform – governed by English or German law
  • Advising and documenting several debt issuance transactions for German SME clients governed by English or German law and a number of hybrid debt transactions structured as trust preferred securities for German financial institutions
  • Advising on, and negotiating several sizeable loan transactions, including
    • the purchase of several large portfolios of sub- and non-performing loans from two large German lending institutions, advising in relation to the ongoing disposal of single loans and Schuldscheine out of these portfolios to several European and US market participants
    • several >£100 Mio syndicated LMA loan facilities with Borrowers in Germany, Austria, Switzerland and Scandinavia
    • the unwind of a £480,000,000 secured loan to the operator of a shopping centre located in Germany which resulted in a controlled insolvency and a restructuring of the funding and ownership structure, and
    • the unwind of and enforcement into a 1.2 bn Euro residential and commercial real estate portfolio located in Germany by the lender and the successful disposal of the portfolio out of the enforcement structure
  • Advising in relation to, and negotiating a €400 Mio joint venture and a €100 Mio joint venture for the acquisition of a portfolio of residential properties located in Germany
  • Advising on and documenting the financing of an off-shore windfarm project located in the Baltic Sea through a structured securities programme
  • Establishment of a fund-linked Notes and Schuldschein issuance Programme governed by English law (except for the Schuldschein module) for a major European bank

Previous in-house roles:

  • Acting Global Head of Legal – Fixed Income, FX and Commodities at UniCredit S.p.A, London Branch
  • Legal Director at Barclays Bank PLC (Barclays Capital)
  • First Vice President and member of the Office of General Counsel at Merrill Lynch International London
  • Legal department of Debis Financial Engineering, part of the Daimler Chrysler Group, Stuttgart

Previous Law Firms:

  • Linklaters London and Frankfurt a.M.
  • Lovell White Durrant (now Hogan Lovells) London
  • Bau, Maiss, Widmayer, Imo Heidelberg

Education and Qualifications:

  • Qualification as Solicitor in England and Wales
  • Qualification and admission as Rechtsanwalt in Germany
  • Ruprecht-Karls University Heidelberg, Germany

Recent awards