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Contact details

Allen & Overy LLP
One Bishops Square
E1 6AD
United Kingdom

Telephone icon+44 20 3088 2092
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  Paul Cluley



Paul specialises in derivatives and structured products and has worked as a partner in Allen & Overy's Tokyo, Hong Kong and London offices. He has extensive derivatives transactional, contentious and advisory experience. Transactional work includes a wide range of structured finance, including structured repo and securities lending in the context of large scale funding and equity transactions and derivative portfolio disposals. Paul’s contentious practice covers disputes arising from all areas of derivatives practice – valuation and XVA, close-out and collateral disputes and allegations of invalidity and market-manipulation. Advisory work has in recent years focused on the imposition of margin requirements for uncleared derivatives. Paul also advises on sales of derivatives books and businesses, including the purchase by Société Générale of Commerzbank’s equity derivatives business, the purchase of a synthetic prime brokerage business and many large and complex derivative portfolio sales and purchases.

Professional qualifications

Admitted as solicitor, England and Wales, 1995

Registered foreign lawyer, Japan, 2003

Registered foreign lawyer, Hong Kong, 2006

Academic qualifications

Law & European Legal Studies

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