Fabien Carruzzo
Fabien Carruzzo, Head of Derivatives and Structured Products, US at Herbert Smith Freehills Kramer, counsels asset managers, investment banks, commodity traders and other market participants in the full spectrum of transactional and regulatory derivatives matters.
Fabien’s work covers a wide range of equity, credit, currency, commodity, and fixed-income derivatives and bespoke structures, as well as structured financing swaps, repos and other asset-based financing arrangements. Fabien has been recognized by Chambers Global and Chambers USA as one of the leading practitioners in derivatives and structured products.
Drawing on his experience advising clients on high-profile financial insolvencies, including Lehman Brothers, Fabien counsels clients in assessing and mitigating the liquidity, credit, insolvency and regulatory risks inherent in trading financial products. He also advises market participants on the implementation of regulatory reforms affecting the derivatives and futures industry globally.
Fabien’s work with credit derivatives has involved advising traders on numerous prominent credit and succession events over the years. Recently, he also led the firm's engagement as counsel for the members of the International Swaps and Derivative Association (ISDA) Determinations Committee in Sears, securing a landmark decision to include a syndicated leveraged loan in the list of instruments that can be used to settle Sears’ Credit Default Swap (CDS) contracts.