CMS

The CMS capital markets group is ‘extremely responsive and flexible’, and its expanding workload on derivatives and structured products for investment banks, clearing banks, insurers, alongside asset and investment managers, corporate clients, trustees and pension schemes cements its strong market position. Head of capital markets and derivatives Chris Clark is called upon by corporates, major investment banks, and other financial institutions to advise on OTC derivatives, DCM transactions and structured products, with a specific focus on derivative securities and regulatory issues. Will Dibble and ’technical, commercial and pragmatic’ David McCallum, who made partner in 2025, are ‘go-to partners for credit-linked structured products’. The ’extremely approachable’ Michael Cavers has notable expertise in retail structured products, and securitisation, hedging for clients including BNP Paribas. Dibble recently acted for Deutsche Bank AG London as lead counsel on its programmes for credit-linked securities, and for Citigroup in the establishment of proprietary indices on assets including commodities, gold and futures contracts.