DLA Piper announced today the launch of its LIBOR Transition practice, which will focus on assisting companies with impact assessment and advising on benchmark reform implementation across multiple jurisdictions and products. The practice will be led by partners Claire Hall (Los Angeles), Richard Hans (New York), Marc Horwitz (Chicago) and Isabelle Ord (Los Angeles).

The transition from interbank offered rates to alternative reference rates presents multiple challenges for companies in the areas of operations, legal, tax, accounting and compliance. In an effort to assist clients with these issues, DLA Piper lawyers are actively monitoring developments spanning numerous industry working groups and addressing benchmark transition across jurisdictions, including ISDA, SFIG/SFA, LSTA, SIFMA and the ARRC.

"As a global firm with significant and broad experience across the finance industry, we are well-equipped to assist with benchmark transition issues arising out of multiple asset classes," said Hans, who is also US co-chair of DLA Piper's Financial Services sector and managing partner of the New York office. "Our LIBOR transition team will be able to assist clients in creating and implementing strategic and customized action plans that lay out the steps needed to implement benchmark transition."

DLA Piper is at the forefront of providing legal counsel and business support to some of the largest financial services companies and institutions on both their day-to-day operations and wider strategic objectives. The firm has the worldwide resources to represent clients in large banking and commercial transactions, as well as to meet their needs in regulatory, public policy and enforcement areas. The launch of DLA Piper's LIBOR Transition practice is the latest effort by the firm to meet the evolving and increasing needs of clients in the financial services sector.

The firm's global Financial Services sector lawyers work across practice areas and offices to represent asset managers, building societies, capital markets and their participants, investment banks, national regulators, private banks, private equity firms, professional services organizations engaged principally in financial services and retail banks.