Bingham McCutchen LLP is expanding its renowned structured transactions practice to California with the addition of Dan Passage in the Los Angeles office.
A structured finance authority with more than 20 years of experience and a former head of O’Melveny & Myers’ securitization practice, Passage joins Bingham as a partner in the firm’s recognized Structured Transactions Group. The group ranks first in industry league tables for asset-backed securities and mortgage-backed securitization deals through the first half of 2011. Bingham combined with McKee Nelson LLP, a New York and Washington, D.C., firm known for its structured finance practice, in August 2009.
“Dan is a market leader in the securitization of various esoteric assets and is among the pre-eminent securitization lawyers in the United States,” said partner Reed Auerbach, chair of Bingham’s Structured Transactions Group. “We have known Dan for many years, and he is a terrific fit. His arrival further reflects our strategy of continuing to diversify and extend our recognized practice by attracting the best talent.”
Passage’s arrival to Bingham comes nearly a year after the firm launched its structured transaction practice in Hong Kong with partners Larry Isaacson and Vincent Sum. In late 2009, Bingham expanded its Washington, D.C., securitization presence with the addition of of counsel Marty Teckler and extended the market-leading practice to London with the arrival of partner Sarah Smith.
Passage’s move to Bingham also demonstrates the firm’s investment in California and continued success of the combination with McKee, also known for its tax controversy work. In August, Bingham announced the expansion of its leading tax practice to California with the arrivals of partners Bob Kirschenbaum, Beth Williams and John Ryan in the firm’s Silicon Valley office.
“The firm is making significant investments in adding strong talent on the West Coast to extend the reach of our key practices,” noted Rick Welch, managing partner of Bingham’s Los Angeles office. “We certainly welcome Dan and the opportunity to build our structured finance practice in California and on the West Coast.”
Bingham’s reputation and substantial platform were key factors in Passage’s decision to join the firm.
“An opportunity to work with Reed and members of his team, whom I have known for many years, and to help Bingham extend its world-class structured transactions practice to the West Coast doesn’t come across often,” said Passage. “I’m looking forward to joining a team known for its deep talent and diversified client offerings across continents.”
Passage has received national recognition for his work structuring programs for the origination, financing and securitization of novel asset classes such as life settlements, premium finance loans, annuities, patent and trademark license royalties, and trade receivables. He also advises issuers and underwriters in public offerings and private placements of equity, debt and convertible securities. Passage has handled offerings listed on European and Asian securities exchanges as well as offerings utilizing offshore entities to achieve tax and other investment objectives.
