Global law firm Norton Rose Fullbright has announced the arrival of a four-person insurance corporate regulatory team, comprised of partner Robert Romano, counsel Jonathan Bank and insurance specialists Al Bottalico and Stewart Keir.
Joining from Locke Lord, Romano and Keir will practice in Norton Rose Fulbright’s New York office, and Bank and Bottalico will be based in the firm’s Los Angeles office.
The team joins Norton Rose Fulbright’s renowned global insurance practice, with leading practices in the UK, Australia, Singapore and South Africa as well as continental Europe.
Romano brings extensive experience with insurance regulatory and corporate matters, towards the role. He has assisted clients in numerous M&A, corporate finance and restructuring transactions, with special attention to methods of entry into new and specialty markets for domestic and international insurers.
In addition, he spent two years in the London office of a prior law firm assisting the Corporation of Lloyd’s and clients in the Lloyd’s and company markets. Romano is the third US lateral partner to join the corporate, M&A and securities practice in the past month, following Rajiv Khanna and Eric Rauch.
Bank’s career has seem him focus on reinsurance & insurance matters, insurance company restructuring and regulatory related matters for both the domestic and foreign/alien as well as captive insurance markets.
Additionally, he spent three years employed by UK market participants, including one of the major accountancy firms, working on a number of major UK insurer liquidations.
At the same time, both Keir and Bottalico are non-lawyer insurance financial and regulatory specialists. They both served in senior positions in insurance regulatory agencies in the US.
Keir, who is also a chartered property and casualty underwriter (CPCU), served for 32 years in the New York Insurance Department – now known as the Insurance Division of the New York Department of Financial Services – his last position being that of Assistant Deputy Superintendent and Chief Insurance Examiner.
Meanwhile, Bottalico served for 38 years in the California Insurance Department ending his service as Deputy Insurance Commissioner of the Financial Surveillance Branch.
Jeff Cody, Norton Rose Fulbright’s US Managing Partner, said: “Robert, Jonathan, Al and Stewart are all seasoned professionals in insurance law who are also highly regarded in the regulatory community. Their practices blend well with our existing insurance capabilities and also supplement our overall strength in the financial institutions sector in the US and globally.”
Scarlet McNellie, Norton Rose Fulbright’s US Head of Corporate, M&A and Securities, commented: “The regulatory landscape is everchanging, and insurers rely on our global team to advise them on complex issues. Robert, Jonathan, Al and Stewart have impressive experience which expands Norton Rose Fulbright’s service offerings for our insurance industry clients, especially in the highly-regulated US insurance market.”
Romano, added: “Norton Rose Fulbright has an unmatched global reach that will greatly benefit my international practice, especially in Brazil. I’m excited to join the US insurance regulatory team and get a chance to expand our practice with colleagues across the globe.”
Bank, also added: “I have practiced together with many lawyers at Norton Rose Fulbright for a long time, and moving our practice to this world-class firm is a great opportunity for our team and our clients.”
