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

Telephone icon+44 20 3088 2092
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  Paul Cluley

Partner

London

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.  Most notably Paul has been a lead partner for Allen & Overy’s MarginMatrix product (for variation margin) and the Margin Xchange collaboration (for initial margin) with IHS Markit and Smart Communications. 

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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