Salvador Norberto Ruiz Bachs


Salvador is an expert in debt capital markets, derivatives and structured finance and financial regulation. 

Salvador has wide experience in national and international capital markets. He is an expert in regulatory capital and mrel issuances and he regularly advises on debt capital markets, convertible bonds, GMTN and EMTN commercial paper programmes. He has also wide experience in the design, negotiation, and marketing of derivatives, synthetic securitisations, and structured products. He is an expert in financial regulation especially on the resolution regime of financial institutions. He is the head of the EU BRRD center of excellence leading the advice to resolution authorities and financial institutions on resolution planning and resolution actions. He advises financial entities, particularly, banks, investment firms, fund management companies, private equity firms, insurance and pension funds, among others, licensing and products requirements, rules of conduct, capital requirements, investment rules, major holdings in financial institutions and listed companies, transparency requirements and AML. His professional practice is also focused on contractual matters about banking, investment, insurance and other financial services. He is an expert in fintech having advised on some of the first blockchain capital markets issuances and advises on crypto currency business. 

Salvador has been ranked as leading individual in financial services regulatory and Debt Capital Markets by Chambers & Partners and also highlighted in Legal 500 and IFLR as an expert in banking and finance.


Representative matters

Regular advice on the EMTN programmes of a group of financial institutions, the structured programmes of a group of financial institutions and the SP, SNP, T2 and Green bond deals closed on those programmes. 

A group of financial institutions on the European Investment Bank (EIB)’s issue of a Luxembourg law-governed dematerialised bond in different blockchains across Europe through legal and operational engineering. This cross-border transaction is the first high-profile DLT bond issuance relying on the innovative and flexible Luxembourg legal framework. 

A global financial institution on the subscription of certain derivative transactions with Escribano Mechanical and Engineering in the framework of the recent increase by the latter of its stake in Indra Sistemas up to 8 per cent. 

A multinational financial institution in their first end to end blockchain bond carried ever by a bank at a global level. 

Banco Sabadell on the sale of its depository Business to BNP Paribas. 

Single Resolution Board (SRB) on the resolution of the European subsidiaries of the largest Russian bank, Sberbank 

Banco Sabadell on the sale of its asset management company, Sabadell Asset Management, to Amundi. 

BBVA in relation to a synthetic securitization with the European Investment Fund. 

A multinational financial institution and the pool of banks in the first syndicated issuance ever of Export Credit Agency (ECA) covered bonds (cédulas de internacionalización) of the financial institution. 

The joint lead managers on the issuance of AT1 preferred securities by CaixaBank for a value of EUR 750 million. 

A global financial institution and the rest of the Dealers in the CaixaBank AT1, the issue of Perpetual Non-Cumulative Contingent Convertible Additional Tier 1 Preferred Securities.

Pro bono

Mentoring young people through A&O’s award-winning Smart Start programme.

Advising various NGOs in the design of a custom legal umbrella called United for Ukraine NFT

Published Work

  • Around four or five publications display on your web CV, depending on length, with the remainder visible via a ‘Read more’ link.
  • Salvador Ruiz Bachs, co-author (2020) “Editions 10,11,12 and 13”, Madrid: The International Capital Markets Review.
  • Práctica Mercantil para abogados, 2020. “La Ley, Wolters Kluwer”
  • Cinco Días, 25 February 2012. "Financial reform and credit squeeze".

Speaking Engagements

  • Speaker, Regulación de valores representados en DLT en la reforma de la Ley de Mercado de Valores, FIDE, April 2023

Leadership Positions And Professional Affiliations

  • Member, Madrid Bar Association
He is a popular choice for distinguished international as well as domestic lenders, e-commerce companies and supervisory bodies
Chambers & Partners 2024
He has not only a great technical competence but also a very wide point of view of the industry.
Chambers & Partners 2024


  • Band 1 Banking and Finance Practice, Chambers & Partners 2024
  • Leading Lawyer in Financial Services Regulatory, Chambers and Partners 2024



Member Madrid Bar Association, 1996


Degree, Law, Universidad de Alcalá de Henares, 1995

Degree, Economics, Universidad de Alcalá de Henares, 1994


English, French, Spanish
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.