8 (a plan that has been proposed since 2016 ).
9 At a Treasury Select Committee meeting on February 24, Andrew Bailey, Bank of England Governor, warned the EU of what he considers to be a very serious escalation over UK financial services, and added that “there’s a point beyond which the deal is not worth having”. The temporary equivalence for UK clearing houses and CCP to be able to clear euro denominated trades ends mid-2022.
February 2021 has therefore shown that the sensitivities on financial services still continue post-Brexit. For all types of financial services firms, regardless of their post-Brexit operational readiness, these developments matter as they impact structuring and resourcing options, as London’s European business flows to a more multi-financial center based model.
Among lawyers, disputes practitioners have always been a special breed, revered for not just their presence and quick-wittedness in court, but also for their out-of-the-box strategizing to beat the odds when needed, and deliver the ideal outcome for their client. But this past year has needed them to be on the top of their game than ever before, as economies reeled under the effects of the pandemic, and even the old ways of settling disputes having to be rethought in the face of the deadly virus.
Keith Brandt, managing partner of Dentons Hong Kong, feels that dispute resolution saw a significant increase in activity in the earlier parts of 2020, with international arbitration coming to the fore on the back of the uncertainty surrounding the courts being open for business. “Sadly, significant activity can be directly attributed in some way to COVID-19, arising from the mass disruption to commercial activity due to the global pandemic,” notes Brandt. “Liquidity in the market
Keith Brandt, managing partner, Dentons Hong Kong
The managing partner and head of the litigation and dispute resolution group at Dentons Hong Kong, Brandt joined the firm in 2011 and has more than 35 years of experience in dispute resolution, including high court/commercial court litigation, domestic and international arbitration, expert determinations, alternative dispute resolution, and mediations with particular focus on the energy, construction and financial services sectors.
ALB: Tell us about your role. What does the average day look like for you?
Brandt: I am the firm s Hong Kong office managing partner. I am responsible for its day-to-day operations on the ground and through chairing our Hong Kong Advisory Board and I tie in the Hong Kong office to the firm’s operations and affairs globally. I report directly to the firm’s global leadership, our Global CEO and chairman. I hold membership and sit on the firm s Global Advisory Committee. I am also a leader (includi