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Patrick Clancy

Of Counsel

Patrick advises on the full range of English law derivatives transactions. He also advises on complex and bespoke structured finance products and capital markets transactions.
Patrick has notable expertise in equity financing transactions involving equity derivatives and margin loans and in Credit Default Swaps (CDS). His client base includes a mix of financial institutions, hedge funds and infrastructure providers.


Representative matters

Clients on preparing and publishing the ISDA netting opinion for Abu Dhabi Global Market.

Orange on the sale of BT Shares and a financing at a negative interest rate.

The lenders on negotiating and agreeing the hedging provisions of the senior finance documents related to the debt financing of the Sweihan Solar PV Independent Power Project, located near Sweihan in Abu Dhabi.

The lenders on negotiating and agreeing the hedging provisions of the senior finance documents related to the debt financing of the Fadhili Gas Complex in Saudi Arabia.

Published Work

  • Clancy. P (2019) “LIBOR Update: What is Happening as a Matter of Fact and Law?”, London: Thomson Reuters Regulatory Intelligence
  • Clancy. P (2017) “Hague Securities Convention - The Right Way Forward”, London: International Financial Law Review
  • Clancy. P (2016) “Participation Agreements, Bridge Across the Pond”, London: International Financial Law Review

Speaking Engagements

  • Speaker, Transition from IBOR - Will the Industry be Ready in Time?, 10th Annual City Week International Financial Services Forum, September 2020
  • Speaker, Pros and Cons of LIBOR and SOFR, Absolute Priority Podcast, October 2019
He is an excellent lawyer across multiple disciplines. He distils complex legal concepts into understandable and commercial language and is a trusted adviser
Chambers UK, 2024
Patrick is the smartest lawyer in London, hands down. He has a phenomenal brain and is able to handle the most stressful crisis in a calm and clear-headed manner
Chambers UK, 2023


  • Senior States people for Capital Markets: Derivatives, Chambers UK, 2023 – 2024
  • Hall of Fame for Derivatives and Structured Products, Legal 500 UK, 2023



Solicitor, England and Wales, 1990


M.A., Oxford University, 1987

Graduate Diploma Law/CPE (UK), Law, College of Law, Guilford, 1988

M.Sc. (Distinction), Finance, London Business School, 2000


A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.