We are a non-traditional set of barristers' chambers practicing English law and specialising in financial services related work.
We use our knowledge and practical experience of working at a senior level with investment banks and funds and our expertise in the field of financial law to provide legal and outsourcing solutions for our clients.
We advise a wide variety of clients including investment banks and investment management firms, hedge fund managers, overseas law firms, UK legal and accountancy firms and investors.
We work in a different way: whilst we can, and do, work on an hourly rate basis we also offer capped fee and fixed fee options for projects, advice and outsourcing. This allows clients to know in advance the costs of any work to be carried out.
Dr. A. Lorraine Newbold, Head of Minerva Chambers.
LLB, PHD (University of London)
Dr. Newbold was called to the bar by Lincoln's Inn in 1990 and practised as a tenant of Essex Court Chambers.
Her in house legal career began in 1993 at BZW/Barclays Capital, the investment banking arm of Barclays. She joined as a derivatives, capital markets and securities financing specialist and was responsible for all derivatives, capital markets and securities financing work until 1995 when she became legal director of BZW/Barclays Capital with responsibility for all investment banking related legal work.
She subsequently joined the Japanese investment bank Nikko as general counsel and the Dutch investment bank, Rabobank International, also as general counsel. She continued to specialise in derivatives, capital markets and securities financing related work. She then moved to Citigroup Alternative Investments where she was European general counsel specialising in derivatives, structured investments and alternative investments.
She retuned to the Bar in 2004 and was a founding member of Minerva Chambers which is a niche set specialising in financial markets related work. She is head of Minerva Chambers and has undertaken a wide variety of advisory work involving OTC and exchange traded derivatives and securities financing including advisory and negotiation work on master agreements and clearing, clearing rules and clearing agreements together with legal reviews of market standard legal opinions required for CRD IV purposes including Article 305 opinions.
For the past 5 years Dr Newbold has been working almost exclusively on regulatory change as that applies to derivatives under EMIR, MiFID 2, securities financing under SFTR and capital rules under CRD IV. She has been seconded to both RBS and Credit Suisse to work on regulatory change programmes and has been a member of a number of ISDA and FOA working groups during that time and well as a member of a number of CCP dealer legal working groups.
She acts as an expert witness on legal and regulatory matters in respect of derivatives.
Iona J. Levine qualified as a barrister in 1981 and has practised as a lawyer specialising in areas such as derivatives, clearing, related markets and alternative investments for over 27 years. She has worked for some of the most prestigious global financial institutions as well as leading city law firms and is one of the original founders of Minerva Chambers.
Prior to rejoining Minerva Chambers, she was the group general counsel and managing director of the LCH.Clearnet group (one of the world’s largest global clearing houses). She was a director of their Luxembourg subsidiary and a member of the SwapClear board. She played an extremely active role in developing the global SwapClear business, in particular in establishing their US FCM offering and their European client clearing model. She spent a considerable amount of time working to reconcile differences between the US Dodd-Frank program and the EU legislative programme.
She has a wealth of front line experience in managing crises and defaults such as Lehman. She also led the legal aspects of LCH’s corporate finance initiatives. She is an acknowledged legal expert on all aspects of clearing having been invited at various times to sit on FSA advisory committees and CFTC round tables. She gained her original in-house experience at Citibank, Barclays Capital and HSBC. At HSBC, she was the global head of the treasury and capital markets legal team and specialised in derivatives, emerging markets, netting, collateral and related matters. Whilst at HSBC she chaired the London end of the BBA/New York foreign exchange legal committee which was responsible for producing the original IFEMA terms. She also spent two and a half years as the chair of the legal committee of the exchange clearing house (ECHO, now CLS), which resulted in the launch of the first global foreign exchange multilateral netting exchange clearing house.
Her career in private practice saw her establishing and heading up the derivatives practice at Hammonds before joining Baker and McKenzie as head of the derivatives practice in London. Subsequently she held the position of executive director of derivatives and funds at SJ Berwin, where she specialised in working with hedge funds, fund of funds, structured product providers, custodians and asset management companies. She then co-founded Minerva Chambers where she advised on all aspects of derivatives, assisted in establishing hedge funds, an oil trading joint venture, and spent time in Dubai helping to establish the Dubai International Financial Exchange (DIFX), a vertical exchange, clearing house and CSD (now NASDAQ Dubai).
Rupert is a barrister, economist and expert adviser on complex cases in: financial markets and derivatives, competition and anti-trust, risk management, quantum and damages, pricing and valuation, commercial litigation, international arbitration and transfer pricing.