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David Wakeling

Partner, Head of MIG

London

Wakeling David
David Wakeling

Partner, Head of MIG

London

David heads A&O's Markets Innovation Group (MIG), a group of lawyers and developers who are focused on the creation of innovative solutions for clients to meet large-scale legal and regulatory challenges.

David was shortlisted as one of the most Innovative Lawyers in Europe by the Financial Times. He was picked as a "Rising Star" of up-and-coming executives under 40 in finance by Financial News, a Dow Jones publication. David has also been named in The Lawyer Hot 100.

David has created and chaired industry initiatives and working groups relating to various large-scale challenges, most recently with respect to the transition away from LIBOR and other interest rates.

David recently devised:

  • IBORMatrix- a system designed to facilitate the transition away from LIBOR and other interest rates, involving a cutting edge approach to the use of artificial intelligence.
  • BrexitMatrix- a system designed to implement a large financial institution’s Brexit strategy, covering core areas of the business, including lending, derivatives, stock lending, clearing and repos;
  • BondMatrix- a system which reviews bond documentation using artificial intelligence; and
  • MasterMatrix- a system which codifies trading terms for derivatives, repo and stock lending transactions, allowing data to be integrated at a systems level by buy-side clients.

Previously, David also created MarginMatrix™, an online regulatory compliance tool, and spearheaded a joint venture with Deloitte to help several global banks with the negotiation of thousands of contracts which have been auto generated by the system. MarginMatrix was ranked "Standout" in the FT Innovative Lawyer Awards.

He also created Default Management, an online tool which helps manage major counterparty defaults, and OpinionNet, an on-line tool for the delivery of netting opinions. These were ranked "highly commended" and "commended" (respectively) in the FT Innovative Lawyers Awards.

David specialises in derivatives and structured finance transactions linked to credit, equity, rates, currencies and commodities, including with sovereign counterparties. He has advised leading financial institutions on major counterparty defaults, on the integration or disposal of derivatives businesses and the clearing of derivatives. David is a member of various ISDA working group committees. He has advised leading financial institutions on their Eurozone crisis contingency planning and on banking crises in Greece, Portugal and Cyprus. Most recently, David has advised financial institutions at an industry and individual level on issues relating to LIBOR.

Experience highlights

Office

London

Allen & Overy LLP
One Bishops Square
London
E1 6AD

View office →

Qualifications

Professional

Admitted as solicitor, England and Wales, 2003

Academic

BA (Hons), Law, University of Southampton, 1999

Pro-bono experience

  • David is a founder and trustee of Alice’s Arc, a children’s cancer charity and has advised on its incorporation, its governance and on certain areas of EU law relating to drug trials.

Recognition

News & insights

Publications: 07 APRIL 2020

Covid-19 coronavirus: commercial papers in the ECB pandemic emergency purchase programmme of 750 billion euros

In order to deal with the economic emergency resulting from the spread of the Covid-19 coronavirus, the European Central Bank ("ECB") has announced a temporary programme for the purchase of financial instruments amounting to EUR750 billion by the Eurosystem's central banks. 

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LCD panel of lights

News: 22 MARCH 2020

Allen & Overy advises JP Morgan on EUR 300 million high yield bond offering for Sazka Group

Allen & Overy announced that it represented J.P. Morgan, HSBC, Société Générale, UniCredit, Erste Group, and J&T BANKA as initial purchasers on the issuance of EUR300mn 3.875% Senior Notes due 2027 by SAZKA Group. The transaction followed a successful entry by SAZKA Group of international capital markets in November 2019, when the company issued its first high yield bond worth EUR300mn, bearing a fixed coupon of 4.125% due in 2024. 

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coronavirus

Publications: 16 MARCH 2020

Coronavirus - what is the current situation in Germany?

In order to contain the Coronavirus the German federal states as well as the German government have put strict measures into place. Schools and kindergartens have been closed as well as borders to most neighbouring states for private travel. In order to mitigate the economic consequences, the German government announced a comprehensive package of measures.

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Publications: 11 MARCH 2020

FCA proposes enhanced climate-related financial disclosure for companies with listed equity

New Listing Rules applicable to premium listed commercial companies.

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