We are pleased to welcome Adam Cohen and Mark Chorazak to our Washington, D.C. and New York offices, respectively, as partners and co-heads of our Financial Institutions Regulatory Group. Mr. Cohen and Mr. Chorazak will advise U.S. and international banks, nonbank financial institutions and fintech companies on bank regulatory matters, legislative developments, corporate governance, enforcement and compliance issues and banking-as-a-service arrangements. In addition, they will counsel clients on mergers and acquisitions, strategic (noncontrolling and controlling) investments, equity and debt offerings and other transactions.
“We are thrilled Adam and Mark have joined us,” said Jeremy London, Skadden’s executive partner. “They share a cutting-edge vision for our financial institutions regulatory practice that reflects their substantial experience and deep knowledge of the financial services space. Their leadership will ensure that our financial institutions clients are well positioned to respond to the evolving regulatory landscape and global economy.”
Mr. Cohen most recently served as the general counsel of SoFi Bank, where he played a key role in managing the company’s transition from a fintech company to a federally regulated banking organization. He was previously a partner at another global law firm, where he provided regulatory advice on numerous large and complex mergers and acquisitions and other corporate transactions. He has also held several positions in the federal government, including at the Federal Reserve Board, where he was a primary author of the regulation governing private equity investments in banking organizations and investments by banking organizations in nonbank companies. During his time at the Federal Reserve Board, he advised on the development and implementation of prudential requirements applicable to systemically important financial institutions and led the review of a number of significant mergers and acquisitions, strategic investments and novel activities.
Mr. Chorazak has led the U.S. bank regulatory practice at another global law firm and served as the co-chair of its fintech initiative. He advises international and domestic banks and nonbank financial institutions on a range of transactional, regulatory and governance matters. Recognized by Chambers and Business Insider as one of the top financial services and fintech lawyers in the United States, Mr. Chorazak has advised on some of the largest bank mergers and fintech transactions of the last decade. He regularly counsels clients before the Federal Reserve Board, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, as well as state banking regulators. Mr. Chorazak has served in leadership positions in several professional organizations, including on the American Bar Association’s Banking Law Committee.
“Adam and Mark will meaningfully enhance our capabilities in an increasingly complex financial institutions regulatory space,” said Jessica Hough, global head of Skadden’s regulatory practices. “Guiding financial institutions to successful outcomes often hinges on the ability to navigate the financial regulatory regime with a sophisticated understanding of how international, federal and state rules historically have been applied and where changes are anticipated.”
“Adam’s and Mark’s perspectives and skills perfectly complement the support we deliver to our clients as financial technology continues to develop and new challenges arise,” said Jeffrey Brill, co-head of Skadden’s Financial Institutions Group and global fintech practice.
We recently announced that Sebastian Barling will be joining our Financial Institutions Regulatory Group as a partner in London. Mr. Barling focuses on U.K. and EU financial regulatory advice, with extensive experience counseling financial institutions on complex regulatory change. The combined additions of Messrs Cohen, Chorazak and Barling will enhance the firm’s ability to provide our global clients integrated regulatory guidance that reflects a transatlantic perspective.
Mr. Cohen received his J.D. from Columbia Law School and a B.A. from Duke University.
Mr. Chorazak received his J.D. from Duke University School of Law, an M.Sc. from the University of Oxford and a B.A. from Syracuse University. Prior to private practice, he clerked for the Hon. John W. Noble on the Delaware Court of Chancery.